Hydrocarbon Processing - September 2021 - 7

Editorial
Comment
LEE NICHOLS, EDITOR-IN-CHIEF/ASSOCIATE PUBLISHER
Lee.Nichols@HydrocarbonProcessing.com
Refining's evolution: Technology driving innovation
INSIDE THIS ISSUE
8 Business Trends.
Since its inception in 1922, Hydrocarbon
Processing-originally called Petroleum
Refiner when first published-has
focused on delivering the latest refining
technologies to readers around the world.
Whether it is the latest in new processing
technologies, maintenance, best practices,
case studies, tools and services, etc.,
the publication strives to provide
hydrocarbon processing personnel with
the knowledge and know-how to optimize
safer and more efficient, profitable and
sustainable operations.
Throughout the decades of
publishing, trends and technologies have
evolved significantly within the refining
industry. Needless to say, no one could
have predicted the demand destruction
that entailed due to the response to the
COVID-19 pandemic. Travel restrictions
and lockdowns had a detrimental effect
to refined fuels demand globally, forcing
several refineries to close or convert
to storage terminals. Forecasts show
that 3 MMbpd-3.5 MMbpd of refining
capacity could cease operations due to
depressed margins caused by declines in
refined fuels demand.
Market volatility has also led many
owner-operators to rethink capital
investments. Many projects have been put
on hold, have delayed final investment
decisions, halted construction activities
due to safety concerns or even canceled/
abandoned refining capacity builds. For
example, the refining sector witnessed
a nearly 23% decline in active projects
year-over-year, according to Gulf
Energy Information's
Global Energy
Infrastructure (GEI) database.
Not all doom and gloom. Despite
the significant declines in global fuels
demand, several forecasts show fuels
demand increasing in the future. For example,
according to the U.S. Energy Information
Administration's Short-term
Energy Outlook, August 2021, global oil
consumption is forecast to average nearly
98 MMbpd in 2021 and increase to more
than 101 MMbpd in 2022. In the International
Energy Agency's Oil 2021, global oil
demand is forecast to surpass 104 MMbpd
by 2027. This is a stark contrast from
2020 consumption when demand fell below
85 MMbpd in April 2020. Although
the refining sector has witnessed its fair
share of project cancellations, the sector is
forecast to add a significant amount of primary
and secondary unit capacity over the
next several years. According to various
reports, global crude distillation capacity
is forecast to increase by approximately 5
MMbpd by 2026.
Secondary unit capacity additions are
forecast to be even more robust, increasing
by 10 MMbpd within the same timeframe.
Globally, the largest gain in secondary unit
capacity will be for desulfurization capacity
to curb sulfur in transportation fuels.
Technology driving innovation. Refining
expansions, revamps and grassroots
facilities are being built not only to produce
cleaner transportation fuels but also
to improve operations, safety, efficiency
and profitability, while boosting energy
efficiency and mitigating carbon intensity.
The technologies being used to conquer
these challenges are the primary focus
within this issue's Special Focus section.
Conventional refining technologies
continue to evolve, while energy transition
technologies integrate into existing refining
operations. This evolution includes the
increase production of biofuels, renewable
and alternative fuels, as well as the use of
new digital technologies to monitor, adjust
and optimize workflows, supply chains
and processing units for optimal efficiency.
The industry's brightest minds
continue to provide the technologies
and services to ensure production
targets are met and workers remain safe,
while increasing margins and building
sustainable operations. In essence,
this is the true meaning of optimizing
performance.
This month's Business Trends
explores the key concepts of blockchain,
the use case and evidence for blockchain
technology in the oil and gas industry,
the current state and future of the
blockchain patent landscape, and what
this could mean for the sector.
13 Reliability. Bearings are
precision components; to
survive, they require clean lubricants
in adequate amounts. Even seemingly
small amounts of contamination can
greatly reduce equipment reliability and
uptime. Using bearing housing protector
seals as a typical example, this article
shows how the business case can be
made for improvements.
16 Refining Technology.
This month's Special Focus
explores several technologies that are
advancing the global refining industry.
From new processing technologies
to incorporating digital software/
platforms into control systems, refiners
around the world are investing in ways
to optimize facility performance.
59 Catalysts.
This month's Catalysts
section explores the commercialization
of a new fluid catalytic cracking
additive technology for sulfur oxides
reduction and best practices to avoid
common pitfalls in upscaling catalytic
fixed-bed reactors.
88 IRPC Operations
Show Preview.
IRPC Operations will be held virtually
September 21-22. This global, virtual
event will feature three tracks that focus
on optimizing refining and petrochemical
plant operations. Nearly 70% of the
event's presentations will be led by
owner-operator organizations from
nearly 20 countries around the world.
Hydrocarbon Processing | SEPTEMBER 2021 7
Hydrocarbon Processing - September 2021

Table of Contents for the Digital Edition of Hydrocarbon Processing - September 2021
