Hydrocarbon Processing - June 2022 - 4

www.HydrocarbonProcessing.com
PUBLISHER
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. 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 to restart activities. At the time of this publication,
the Gulf Energy Information Global Energy Infrastructure
database was tracking more than 1,000 active projects in the
refining, petrochemicals and gas processing/LNG industries
around the world. A breakdown of active project numbers by
region includes the following:
* Africa-102
* Asia-Pacific-437
* Canada-27
* Western Europe-72
* Eastern Europe, Russia and the Commonwealth of
Independent States-132
* Middle East-115
* U.S.-146.
These projects will be instrumental in many countries
around the world to satisfy increasing demand for certain
transportation fuels and petrochemical products, as well as
provide natural gas for power generation. In total, these projects
represent a total capital investment of more than $1.8 T.
Forecast. What nations are investing in these projects? Why
are they investing in new capacity? What major trends are
driving the HPI globally? These questions are some of the
topics that will be discussed during Hydrocarbon Processing's
Mid-Year Forecast webcast.
Presented each year, this webcast provides an update to Hydrocarbon
Processing's Market Data forecast. The webcast, to be
held on June 24, will provide global HPI personnel with the latest
capital project numbers; major trends, initiatives and company/government
programs that are driving change in the industry;
and an update on projected spending in capital markets.
More information or to register for the complimentary webcast
can be found by visiting www.HydrocarbonProcessing/
com/webcasts.
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This plan provides full access to all information and data Hydrocarbon Processing
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access to all posted articles (current and archived), process handbooks, the
HPI Market Data book, Construction Boxscore Database project updates and more.
Because Hydrocarbon Processing is edited specifically to be of greatest value to
people working in this specialized business, subscriptions are restricted to those
engaged in the hydrocarbon processing industry, or service and supply company
personnel connected thereto.
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4 JUNE 2022 | HydrocarbonProcessing.com
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Hydrocarbon Processing - June 2022

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