January 2016

Trends and Resources

Industry Perspectives: Is 2016 the year when crude oil bounces back?

With both West Texas Intermediate (WTI) and Brent crude oil prices tumbling almost 50% from 2014 to 2015 due to a global supply glut, this past year was one of great uncertainty in the downstream sector.

DuBose, Ben, Hydrocarbon Processing Staff

With both West Texas Intermediate (WTI) and Brent crude oil prices tumbling almost 50% from 2014 to 2015 due to a global supply glut, this past year was one of great uncertainty in the downstream sector. Downstream development slows While some major projects are going forward, like ExxonMobil’s new petrochemicals expansion in Baytown, Texas, several others have paused as companies readjust their forecast models. Within the US petrochemicals space alone, delays have been reported for project developers including Axiall, Lotte Chemical, Odebrecht and Appalachian Resins. Likewise, the CEO of industrial gases supplier Linde said in December that his petrochemical customers were shying away fr

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