According to Hydrocarbon Processing’s Construction Boxscore Database, more than 320 new downstream capital projects have been announced over the past year.
Refineries and petrochemical plants contain some of the harshest environments on the planet.
Hydrocarbon Processing’s Construction Boxscore Database is tracking more than 1,300 active projects in the hydrocarbon processing industries worldwide.
According to the editors of Hydrocarbon Processing, the downstream processing industry will witness substantial growth in new refining, petrochemical and gas processing/LNG capacities over the next several years.
Readers who have had the misfortune of being drawn into debates over the precise definitions of words or terms might agree that much time can be lost in unproductive squabbling.
The global hydrocarbon processing industry (HPI) continues to expand and modernize to efficiently meet growing demand for energy, transportation fuels and petrochemicals.
Regulations, feedstock advantages, supply/demand gaps, etc., are resulting in a surge of new capital investments around the world.
After several years of cutting costs to align to the reality of fewer and smaller capital projects, engineering, procurement and construction (EPC) firms are now forging ahead as the industry recovers.