December 2020

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Editorial Comment: HPI spending forecast to reach $491 B in 2021

Who could have known that the hydrocarbon processing industry (HPI) would have been hit with such market volatility entering the new decade?

Nichols, Lee, Hydrocarbon Processing Staff

Who could have known that the hydrocarbon processing industry (HPI) would have been hit with such market volatility entering the new decade? Global oil demand reached record highs in 2019, with most forecasts predicting increases in global fuels and petrochemicals consumption. This topic, among others, was the focus of Hydrocarbon Processing’s 47th annual forecast presentation “What does 2021 hold for the downstream HPI?” The annual webcast provided attendees with insights into major trends affecting the downstream HPI, including the editors’ forecast for capital, maintenance and operating expenditures in 2021. Market Data 2021 The event also included the launch of Hydrocarbon Processing’

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