Demand Growth Lifts 2011 Prospects for Refiners and Refinery Service and Equipment Companies

SUGAR LAND--November 29, 2010--Written by John Egan for Industrial Info Resources (Sugar Land, Texas)--Petroleum refiners have had a difficult 2010, but "I expect 2011 to improve, and 2012-15 will be a heyday for refining," said Chris Paschall, Industrial Info Resources' vice president of global research for the Petroleum Refining Industry, at the company's 2011 Industrial Market Outlook in Baton Rouge. One reason for Paschall's optimism: 59 projects with combined total investment values of $6.7 billion have been restarted at U.S. and Canadian refineries since January 2009. These projects had all previously been delayed or postponed.