India is emerging as the world’s new oil demand center. Complementing its thirst for crude oil, the country has the potential to become a hotbed for natural gas consumption over the next few years.
According to Hydrocarbon Processing’s Construction Boxscore Database, over 1,000 new projects have been announced since 2014. Nearly half of these projects were announced in 2014, and the trend shows a steady decline in new project announcements since that time.
Throughout its overview series of the global refining industry, Hydrocarbon Processing has provided a look at the state of the refining industry, new project developments, demand outlooks for the refining sector and the move to low-sulfur fuels. The previous sections have taken a detailed look at the refining sectors of Asia-Pacific, North America and South America. This fourth and final installment analyzes major trends in Africa, Europe and the Middle East, and offers data on planned refinery capacity additions, upgrades and grassroots facilities.
What is the state of the global hydrocarbon processing industry (HPI)? Which regions and sectors are seeing growth, and which are stagnant, or possibly shrinking? These were some of the questions that Hydrocarbon Processing editors tackled at the 43rd Annual Hydrocarbon Processing Forecast Breakfast.
Details on high-impact refining and petrochemical projects presently under construction, as chosen by HP editors and readers.
Hydrocarbon Processing’s Construction Boxscore Database is tracking more than 700 active refining projects around the world. The majority of these projects are located in the Asia-Pacific and Middle East regions.
Hydrocarbon Processing continues its series on the global refining industry. This series provides a detailed outlook on the state of the global refining sector, active and new project developments, and an overview of major refining trends in each region. Part 3 provides an overview of the refining sectors of Canada, Latin America and the US.
As mentioned in the editorial comment of the October issue of Hydrocarbon Processing, the nominees for the 2016 Top Project awards are out.
As the world continues to see more vehicles on the road, and as emerging economies invest in civil, industrial and energy projects, global fuels demand is forecast to increase through the end of the decade.
New project announcements have hovered in the low teens for several months.