February 2019

Trends & Resources

Industry Perspectives: What opportunities will 2019 bring to the global HPI?

To continue communication and feedback with Hydrocarbon Processing’s global audience, the editors have posted a new poll to HydrocarbonProcessing.com.

Nichols, Lee, Hydrocarbon Processing Staff

To continue communication and feedback with Hydrocarbon Processing’s global audience, the editors have posted a new poll to HydrocarbonProcessing.com. Over the past two months, Hydrocarbon Processing has gauged our readers on major issues in the downstream processing industries. These issues included polls on the International Maritime Organization’s Sulfur Cap regulation and major challenges the hydrocarbon processing industry (HPI) may witness in 2019.

To recap, nearly 80% of Hydrocarbon Processing readers believe that marine shippers will comply with upcoming IMO sulfur regulations by burning low-sulfur, compliant fuels. Regarding additional routes to compliance, the use of alternative fuels or the installation of scrubbers came in at 13% and 10%, respectively.

In January’s poll, Hydrocarbon Processing asked its readers to vote on the major challenges the HPI will witness this year. The HPI witnessed its fair share of challenges in 2018. From new regulatory announcements and enactments to the continued buildout of new refining, petrochemical and gas processing/LNG capacity, 2018 epitomized the ever-changing global HPI marketplace. With several hundred votes, regulations—representing nearly 30%—were the top challenge the industry will see in 2019. However, the oversupply of refined fuels, knowledge transfer and surplus capacity buildout had strong showings. A final breakdown of votes is listed below:

  • Oversupply of refined fuels—20%
  • Regulations—28%
  • Surplus capacity (e.g., is the industry building too much?)—16%
  • Increasing costs—6%
  • Knowledge transfer or lack thereof—20%
  • Feedstock availability—2%
  • Other—6%.

In February’s poll, we want to know what the biggest opportunities in the HPI are in 2019. Visit HydrocarbonProcessing.com and cast your vote for the following:

  • Processing margins
  • New engineers joining the workforce
  • Increase in refining/petrochemical integration
  • Increased use of digital operations
  • New capacity builds
  • Increasing fuels/petrochemicals demand
  • New demand centers
  • Room for newer process technologies
  • Increased safety measures
  • Other.

The editors of Hydrocarbon Processing will provide the results in an upcoming issue. HP

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