Beginning in July 2014, the world began to witness a widespread fall in crude oil prices. With the decrease in global crude oil prices, what has this meant for new project announcements in the downstream sector?
Capital and maintenance projects require the management of thousands of documents, which can be more easily accomplished with cloud-based solutions.
“Motiva routinely adjusts our business plans, based on company needs and evolving state and federal regulatory requirements at any given time," a company spokesman said.
In 2015, the HPI’s capital, maintenance and operating budgets are expected to exceed $324 B. Global announced project spending continues to surge to satisfy increasing demand for petroleum products.
Six large coke drums at Chevron’s El Segundo refinery, which supplies 20% of Southern California’s vehicle fuel, were showing signs of aging after 46 years in service.
A searchable database of project activity in the global hydrocarbon processing industry
Engineers and designers are highly skilled individuals. Forcing them to enter design changes using tables, forms and spreadsheets is unproductive and uneconomical, and it increases the likelihood of human error—this is the way that most instrumentation software systems currently work. For too long, software vendors have denied engineers and designers the simple practicality of a graphical visual engineering interface with “drag and drop” capability and inbuilt intelligence, ensuring changes are automatically replicated into all the associated data and databases.
D. GIBSON, AVEVA
Will previously-planned downstream investments be cut back in 2015 due to lower global oil prices?
Depends how long current prices last