May 2016

Columns

President's Letter: A new day for you, a new day for us

The last thing you need right now is another dreary recitation of industry statistics that show how hard hit the global oil and gas industry has been in the last 18 months.

Royall, John, Gulf Publishing Company

Dear Reader,

The last thing you need right now is another dreary recitation of industry statistics that show how hard hit the global oil and gas industry has been in the last 18 months. So, I will spare you the gory details.

The fact is that, over the past two decades, new technologies have produced gluts of both oil and natural gas. With global oil production reaching nearly 94 MMbpd in 2016, the term “peak oil” has a whole new meaning. For the downstream industry, this has led to abundant and relatively inexpensive feedstocks for the refining, petrochemical, and gas processing/LNG industries.

Recently, we have seen a time of dislocation in the industry. This includes vast layoffs in the upstream sector, as well as the reduction of capital investments and abrupt changes in global production and consumption patterns. But, out of this time of change comes many opportunities.

For the industry, it means that we will emerge leaner, meaner and more profitable. To lower costs, operators will adapt new technologies to make crude oil and natural gas processing much more efficient, safe and clean. This includes the widespread application of data analytics, which is new and very exciting. From low-sulfur transportation fuels to power generation and plastics, these innovations will provide the world with the highest-quality products.

For Gulf Publishing Company, publisher of Hydrocarbon Processing, we have had the opportunity to buy the company from the previous owners. During our 100th anniversary year, we are now an independent company with headquarters in Houston and offices in Houston and London. Our global media brands cover the entire market: Petroleum Economist for industry business and strategy, World Oil for the upstream, Hydrocarbon Processing serving the downstream and Gas Processing in the midstream.

Hydrocarbon Processing is well-known for its annual HPI Market Data book, which provides major trends in downstream project activity and spending in every region of the world for the coming year. Hydrocarbon Processing is also well-known for the Construction Boxscore Database, which tracks and provides detailed information on thousands of downstream projects around the world. Over the years, our editors’ forecasts have proved to be very accurate in projecting downstream investment. As you know,
a lot of forecasters have not fared well over the last few years.

Nevertheless, we at the new Gulf Publishing Company make these forecasts, which you can count on:

  1. Global demand for transportation fuels, natural gas and petrochemicals will continue to increase. In turn, the industry
    will continue to process hydrocarbons in ever more efficient and safe ways.
  2. New technologies and processes will be developed and applied to increase efficiencies, as well as produce high-quality products.
  3. Hydrocarbon Processing will serve the industry for decades to come. We will continue to provide the latest advances in technology and best practices, as well as lead the industry in providing executive, engineering and operating management with information to help oil and gas industry professionals do their jobs better.

So, dear reader, I thank you for your devotion to Hydrocarbon Processing. As I travel around the world, it is gratifying to hear from readers about the publication, the website and our newsletters, and how the information is interesting and, more importantly, beneficial in their work. I also thank all of the advertisers who support this publication. During our 100th anniversary year, I invite you to dive deeper into Hydrocarbon Processing and HydrocarbonProcessing.com, and to let us know what you think. We highly value your feedback. After all, our objective has been, and will continue to be, to help you do your job better.

 


John Royall
President/Chief Executive Officer
Gulf Publishing Company

The Author

From the Archive

Comments

Comments

{{ error }}
{{ comment.comment.Name }} • {{ comment.timeAgo }}
{{ comment.comment.Text }}