Petrochemicals and gas processing/LNG sectors see largest increase in new projects.
According to Hydrocarbon Processing’s Construction Boxscore Database, nearly 450 downstream projects are under construction around the world.
The prospect of peak oil demand will put pressure on resource-rich national oil companies (NOCs).
According to Hydrocarbon Processing’s Construction Boxscore Database, Asia, the Middle East and the US contain 66% of all active downstream construction projects globally.
According to Hydrocarbon Processing’s Construction Boxscore Database and HPI Market Data 2018, total capital expenditures (CAPEX) in the global petrochemical sector are more than $440 B.
The first petrochemical-based production of ethylene occurred nearly a century ago. Since then, the industry has undergone a momentous evolution.
This issue of Hydrocarbon Processing is devoted primarily to the topic of petrochemicals; and rightly so.
According to Hydrocarbon Processing's HPI Market Data 2018,’ total capital expenditures (CAPEX) are expected to reach $144 B in 2018.
Although the refining industry is expected to add more than 7 MMbpd of new distillation capacity by the early 2020s, the global refining industry will witness a boost in secondary processing capacity, as well.
Without a doubt, digitalization is the engine fueling the growing adoption of operational excellence (OE) in hazardous industries.