March 2015

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HP Boxscore Construction Analysis: How low oil prices are affecting new project announcements

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?

Nichols, Lee, Hydrocarbon Processing Staff

In Hydrocarbon Processing’s December 2014 Boxscore Construction Analysis article, “2014 global construction year in review,” it was stated that new project announcements climbed to over 500 in 2014. This number represented a 72% increase in new project announcements over the previous year. Fig. 1 shows a Boxscore Database trends analysis on new project announcements from 2012–2014. The US showed significant growth, mainly due to the shale boom that has brought about a surge in new project investments along the downstream construction train.     Fig. 1. Total new project announcements by   region, 2012–2014. Note: European project   to

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