January 2004

Trends and Resources

HP Impact: Consumption of many key petrochemicals to exceed capacity

US oil and gas producers continue toenjoy relatively high prices for their production. “While this isbeneficial for the upstream industry, it is pressuring consumers ofenergy and feedstocks,”..

Weirauch, Wendy, Hydrocarbon Processing Staff

US oil and gas producers continue to enjoy relatively high prices for their production. “While this is beneficial for the upstream industry, it is pressuring consumers of energy and feedstocks,” notes a recent commentary from Nexant/ ChemSystems (www.nexant.com). Nevertheless, there is a brighter picture of demand growth for many petrochemicals. Olefins and intermediates.Ethylene demand is continuing to grow. Increases in US demand are expected to be between 1 million and 2 million metric tons per year, and for the foreseeable future will exceed US capacity growth. The gap may be viewed as caused by, or resulting in, a decline in US exports of petrochemicals.

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