U.S. Petrochemical Producers Plot Maintenance as Demand Surges
Attachment: US petrochem maint 4Q23
Researched by Industrial Info Resources (Sugar Land, Texas)--Global demand for petrochemical products isn't abating, and U.S. producers are trying to keep their facilities in the best operational shape. Demand for plastics--the most familiar branch of petrochemical products--has outpaced that of all other bulk materials (such as steel, aluminum or cement), and has nearly doubled since 2000, according to the International Energy Agency (IEA), and this is expected to drive much of the world's oil demand for the coming decades.
Industrial Info is tracking more than 50 maintenance-related projects across the U.S. petrochemical sector that are set to kick off in the fourth quarter, the bulk of which are in Texas and Louisiana. Shell plc (NYSE:SHEL) leads all other industry players in its investment in fourth-quarter maintenance kickoffs, which are attributed entirely to a pair of turnarounds at its troubled Deer Park Refinery.
Other companies featured: Occidental Petroleum Corporation (NYSE:OXY) and BASF SE.
