June 2022

Trends and Resources

Industry Perspectives: Hydrocarbon Processing’s Mid-Year Update webcast to be held in late June

Over the past several years, the hydrocarbon processing industry (HPI) has been engaged in a whirlwind of peaks and valleys.

Nichols, Lee, Hydrocarbon Processing Staff

Over the past several years, the hydrocarbon processing industry (HPI) has been engaged in a whirlwind of peaks and valleys. In the late 2010s, capital expenditures for new refining, petrochemicals and gas processing/LNG capacity were robust, especially in regions such as Asia, Russia, the Middle East and parts of the U.S. However, the onset of the COVID-19 pandemic and subsequent lockdowns and travel restrictions negatively affected global demand for transportation fuels and several petrochemical product chains. This significant event caused many capital investment projects to be put on hold, reevaluated and even canceled. As the world emerges from lockdowns, many projects are beginning t

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