Economics
Global Project Data
According to <i>Hydrocarbon Processing’s</i> Construction Boxscore Database, more than $400 B is being invested in active petrochemical projects around the world.
Business Trends: Africa—Will increasing demand spark downstream capacity builds?
Over the past decade, Africa’s oil demand has increased by more than 1 MMbpd, to nearly 3.9 MMbpd. Africa’s oil production is more than double the amount it consumes, but lack of investment, failing infrastructure and inadequate refining capacity force the continent to rely on imports to satisfy increasing fuel demand.
Industry Perspectives: Global petrochemical sector to see robust growth to 2020
The global petrochemical sector will continue to see strong growth through the end of the decade, despite a decrease in new project announcements. The crash in energy markets has shifted the industry’s mindset from bullish to optimistic.
Expand crude diet flexibility through comprehensive oil management
One of the primary means for refiners to boost profitability is to improve crude diet flexibility. Many refiners are challenged with increasing their margins while the quality of the global crude oil supply declines.
Hybrid technique for electroslag strip cladding of critical process equipment
One of the major challenges in the oil and gas processing industry is to strike a balance among handling the changing qualities of petroleum products and byproducts, increasing the productivity and service life of critical components and reducing environmental hazards. As an example, new refineries are moving to applying conversion methods, such as hydrocracking, to increase yields, while also utilizing conventional distillation. This juxtaposition translates into a higher Nelson Index rating. Greater refinery complexity makes processing low-quality crude oil difficult, if not impossible, thereby precluding bottom-of-the-barrel products.
Driving innovation in the downstream: IRPC returns to New Delhi
Gulf Publishing Company and Hydrocarbon Processing are pleased to announce that IRPC 2017 will be held April 18–20 in New Delhi.
Viewpoint: Three ways to protect the future of your workforce
With job cuts numbering in the hundreds of thousands, the oil and gas industry has been hard-hit by the massive drop in prices. While no immediate end to the crisis is in sight, there are signs that prices—and hiring—may pick up again later this year.
Engineering Case Histories: Case 95—How to avoid becoming overwhelmed in a failure situation
When you are involved with a major failure and find yourself staring at pieces of debris scattered all over the area, it can be easy to become overwhelmed.
BP announces growth plans for the next five years at presentation
LONDON -- During a presentation in London, BP updated the financial community on details of its strategy and, in particular, medium-term plans for the next five years, based on oil prices similar to where they are today.
EIA: US export to Mexico value more than twice import value in 2016
Energy trade between Mexico and the United States has historically been driven by Mexico’s sales of crude oil to the United States and by US net exports of refined petroleum products to Mexico. Through 2014, Mexico’s exports of crude oil to the United States were the most valuable component of bilateral energy trade, with the overall value of Mexico’s US crude oil sales far exceeding the value of US net sales of petroleum products, primarily gasoline and diesel fuel, to Mexico. From 2006 through 2010, for example, the value of US energy imports from Mexico were two to three times greater than the value of US energy exports to Mexico.
- KT-Kinetics Technology, NEXTCHEM awarded contracts for Petronas hydrogen unit 1/14
- Chinese, Indian refiners seek new supplies as US sanctions tighten grip on Russian oil 1/14
- Clariant to fight 1.4-B euro ethylene lawsuit from BASF 1/14
- Poland's Orlen plans to invest up to nearly $92 B by 2035 1/14
- Genesis Fertilizers, Stamicarbon partner to advance sustainable urea production 1/14
- Sinopec Shanghai Petrochemical to invest $2.9 B to upgrade Chinese operations 1/14
