Released May 04, 2023 | SUGAR LAND
en
Editorial by Geoffrey Lakings for Industrial Info Resources (Sugar Land, Texas)--Recently, the World Petrochemical Conference was held here in Houston.
IIR Energy provides comprehensive, dynamic, accurate, and easy-to-use market intelligence on the Global Petrochemical Industry, giving market participants a sound, fundamental viewpoint on the supply and logistics of this flourishing market.
Clients have access to hands-on knowledge of plant and unit operations, unit turnarounds, new capacity, and unplanned events, allowing users to have a clear understanding of market conditions from the ground level.
Where Industrial Info News weaves IIR's proprietary research into stories which shed light on what is happening "..boots on the ground.." throughout the world. And, back to what Larry presented at the World Petrochemical Conference here--in this story--is some intel on (1) of these (11) propane dehydrogenation projects.
IIR News: India's GAIL Invests $5 Billion in Chemical Projects
India's largest natural gas company, state-owned GAIL (India) Limited (New Delhi) is eyeing expansions in the country's petrochemicals, specialty chemicals and renewables sectors as it pivots toward a new strategy to expand its business beyond natural gas. GAIL is investing around US$5 billion in 26 ongoing chemical projects, including 12 projects worth US$4.4 billion in the petrochemicals sector.
Among its projects, GAIL is converting an existing liquefied petroleum gas plant at Usar, Maharashtra, into a propane dehydrogenation (PDH) complex with an estimated investment of US$606 million and expectations for completion by the end of 2024.
Also, Larry went on to talk about Black Swans and what could lie in store for the petrochemical industry.
IIR Energy supplies the fundamental market knowledge needed for success in the petrochemical commodities supply chain by delivering continuously updated market intelligence in the chemical sector.
Global petrochemical coverage includes more than 5,000 operational or under-development (new) unit profiles to include key sectors such as ethylene, propylene and butadiene, and aromatics such as benzene, toluene and xylenes. In addition, IIR Energy covers other chemicals derived from petroleum, natural gas, and downstream derivatives, including plastics, resins, and monomers.
As this continuously updated market intelligence proves to be truly invaluable as companies like Phillips 66 look to expand upon their existing supply chain throughout the world. Americas to Europe to Asia.
Phillips 66 bolsters NGL value chain 'from wellhead to market'
Growing global demand for natural gas liquids and chemicals is underpinning Phillips 66's investments, including its integration of DCP Midstream, Executive Vice President of Midstream and Chemicals Tim Roberts said at the recently held World Petrochemical Conference in Houston.
"This is an opportunity for us to build a full value chain to compete from wellhead to market," Roberts said. "Now we can pick up a barrel from a producer and take it to Asia, Europe or Baytown, Texas."
Roberts spoke on a keynote panel that headlined a feedstocks and refining integration track. The integration of DCP Midstream, a major processor of natural gas and one of the largest U.S. producers and marketers of NGLs, bolsters Phillips 66's already strong position in the latter.
Well, Phillips can indeed pick up a barrel provided their operations are not impacted--which with IIR News Headlines one always stays "in the know." Tomorrow's news. Today.
IIR News: Today's Refining Hotline Headlines: SUGAR LAND--April 26, 2023--North America
Phillips 66 continues with an unplanned shutdown of the 30,000-barrel-per-day (BBL/d) Fluid Catalytic Cracking Unit (FCCU) 40 at its 146,000-BBL/d refinery in Borger, Texas. Although an actual restart date is not known, the unit is expected to be down until at least mid-May.
Now executives at companies like the aforementioned Phillips 66 not only are looking at opportunities in their supply chain but are focused as well on sustainability.
And here upcoming in June will be providing their 2023 Mid-Year Update & Market Outlook
A growing consensus to invest capital into sustainability and decarbonization efforts is being realized across most industries. While a number of these projects are being financially incentivized, funding projects will become more difficult in retrospect of the bank failures taken place in the first quarter and economic uncertainty that looms. As we look ahead into 2024, what is the outlook for industrial plant maintenance and CAPEX investments?.
For to wrap up on petrochemicals--and touch upon investing capital--(not to mention black swans with Europe's lingering energy crisis & crunch) let's speak again to the aforementioned conference and BASF.
IIR News: BASF Boosts Spending on MDI, Other Chemicals in North America
Global chemical giant BASF SE (Ludwigshafen, Germany) saw an overall decline in sales volumes in first-quarter 2023, but enjoyed strong demand in its Agricultural and Chemicals, Materials and Surface Technologies businesses. As part of its five-year capital spending (capex) plan, BASF is earmarking 4 billion to 4.5 billion (US$4.42 billion to US$4.98 billion) for its North American activities, led by a major capacity expansion in Geismar, Louisiana. Industrial Info is tracking more than $1.1 billion worth of active projects from BASF in the U.S. and Canada, about 70% of which is attributed to a pair of projects that are set to begin construction within the next 12 months.
Therefore, let IIR Energy's Dedicated Market Research place the world at your fingertips. Tomorrow's News Today. Ask us! We have Answers!
For IIR Energy supplies Chemical Marketers & Traders with the fundamental market knowledge needed for success in the petrochemical commodities supply chain by delivering continuously updated market intelligence in the chemical sector. Gain Instant knowledge of turnarounds and new capacity additions to predict price direction.
Your feedback is very important to us. Please let us know if we may provide additional color or answer any other market questions you may have by replying to this note.
Additional IIR Resources:
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 Trillion (USD).
- c&en: Top of the agenda at the World Petrochemical Conference were energy abatement and plastics circularity
At big conference, petrochemical executives talk competitiveness and energy transition
At the World Petrochemical Conference 2023...Larry Tan...delivered a presentation about the propylene market. Producers are building too much capacity, Tan said...some 11 propane dehydrogenation projects were opening in a single year...and profitability would be meager in 2023.
IIR Energy provides comprehensive, dynamic, accurate, and easy-to-use market intelligence on the Global Petrochemical Industry, giving market participants a sound, fundamental viewpoint on the supply and logistics of this flourishing market.
Clients have access to hands-on knowledge of plant and unit operations, unit turnarounds, new capacity, and unplanned events, allowing users to have a clear understanding of market conditions from the ground level.
Where Industrial Info News weaves IIR's proprietary research into stories which shed light on what is happening "..boots on the ground.." throughout the world. And, back to what Larry presented at the World Petrochemical Conference here--in this story--is some intel on (1) of these (11) propane dehydrogenation projects.
IIR News: India's GAIL Invests $5 Billion in Chemical Projects
India's largest natural gas company, state-owned GAIL (India) Limited (New Delhi) is eyeing expansions in the country's petrochemicals, specialty chemicals and renewables sectors as it pivots toward a new strategy to expand its business beyond natural gas. GAIL is investing around US$5 billion in 26 ongoing chemical projects, including 12 projects worth US$4.4 billion in the petrochemicals sector.
Among its projects, GAIL is converting an existing liquefied petroleum gas plant at Usar, Maharashtra, into a propane dehydrogenation (PDH) complex with an estimated investment of US$606 million and expectations for completion by the end of 2024.
Also, Larry went on to talk about Black Swans and what could lie in store for the petrochemical industry.
- c&en: Top of the agenda at the World Petrochemical Conference were energy abatement and plastics circularity
But prospects should start turning around in 2024, Tan predicted. "All this is conditioned on there being no black swan event," he said, using the term for an unexpected scenario that upends expectations. "We have seen over the past couple of years--let's call it what it is: we have been under attack by a squadron of swans."
IIR Energy supplies the fundamental market knowledge needed for success in the petrochemical commodities supply chain by delivering continuously updated market intelligence in the chemical sector.
Global petrochemical coverage includes more than 5,000 operational or under-development (new) unit profiles to include key sectors such as ethylene, propylene and butadiene, and aromatics such as benzene, toluene and xylenes. In addition, IIR Energy covers other chemicals derived from petroleum, natural gas, and downstream derivatives, including plastics, resins, and monomers.
As this continuously updated market intelligence proves to be truly invaluable as companies like Phillips 66 look to expand upon their existing supply chain throughout the world. Americas to Europe to Asia.
Phillips 66 bolsters NGL value chain 'from wellhead to market'
Growing global demand for natural gas liquids and chemicals is underpinning Phillips 66's investments, including its integration of DCP Midstream, Executive Vice President of Midstream and Chemicals Tim Roberts said at the recently held World Petrochemical Conference in Houston.
"This is an opportunity for us to build a full value chain to compete from wellhead to market," Roberts said. "Now we can pick up a barrel from a producer and take it to Asia, Europe or Baytown, Texas."
Roberts spoke on a keynote panel that headlined a feedstocks and refining integration track. The integration of DCP Midstream, a major processor of natural gas and one of the largest U.S. producers and marketers of NGLs, bolsters Phillips 66's already strong position in the latter.
Well, Phillips can indeed pick up a barrel provided their operations are not impacted--which with IIR News Headlines one always stays "in the know." Tomorrow's news. Today.
IIR News: Today's Refining Hotline Headlines: SUGAR LAND--April 26, 2023--North America
Phillips 66 continues with an unplanned shutdown of the 30,000-barrel-per-day (BBL/d) Fluid Catalytic Cracking Unit (FCCU) 40 at its 146,000-BBL/d refinery in Borger, Texas. Although an actual restart date is not known, the unit is expected to be down until at least mid-May.
Now executives at companies like the aforementioned Phillips 66 not only are looking at opportunities in their supply chain but are focused as well on sustainability.
- c&en: Top of the agenda at the World Petrochemical Conference were energy abatement and plastics circularity
Coming out of this difficult period, the chemical industry is planning for the long term. Executives from some regions, notably Europe and Japan, fretted about competitiveness. But the biggest theme was sustainability. Reducing carbon dioxide emissions and plastic waste was the subject of most of the talks from consultants and company executives.
And here upcoming in June will be providing their 2023 Mid-Year Update & Market Outlook
A growing consensus to invest capital into sustainability and decarbonization efforts is being realized across most industries. While a number of these projects are being financially incentivized, funding projects will become more difficult in retrospect of the bank failures taken place in the first quarter and economic uncertainty that looms. As we look ahead into 2024, what is the outlook for industrial plant maintenance and CAPEX investments?.
For to wrap up on petrochemicals--and touch upon investing capital--(not to mention black swans with Europe's lingering energy crisis & crunch) let's speak again to the aforementioned conference and BASF.
- c&en: Top of the agenda at the World Petrochemical Conference were energy abatement and plastics circularity
BASF, the world's largest chemical maker, was hit directly by the run-up in gas prices. Its flagship site in Ludwigshafen, Germany, uses as much natural gas as all of Switzerland. At the conference, the firm's chairman, Martin Brudermüller, said economic recovery as the pandemic eased helped set financial records for the company in the first half of 2022, while the subsequent energy price spike and demand slowdown made the fourth quarter its worst quarter since 2008. BASF managed to reduce its gas consumption by 30%--largely by idling plants.
IIR News: BASF Boosts Spending on MDI, Other Chemicals in North America
Global chemical giant BASF SE (Ludwigshafen, Germany) saw an overall decline in sales volumes in first-quarter 2023, but enjoyed strong demand in its Agricultural and Chemicals, Materials and Surface Technologies businesses. As part of its five-year capital spending (capex) plan, BASF is earmarking 4 billion to 4.5 billion (US$4.42 billion to US$4.98 billion) for its North American activities, led by a major capacity expansion in Geismar, Louisiana. Industrial Info is tracking more than $1.1 billion worth of active projects from BASF in the U.S. and Canada, about 70% of which is attributed to a pair of projects that are set to begin construction within the next 12 months.
Therefore, let IIR Energy's Dedicated Market Research place the world at your fingertips. Tomorrow's News Today. Ask us! We have Answers!
For IIR Energy supplies Chemical Marketers & Traders with the fundamental market knowledge needed for success in the petrochemical commodities supply chain by delivering continuously updated market intelligence in the chemical sector. Gain Instant knowledge of turnarounds and new capacity additions to predict price direction.
Your feedback is very important to us. Please let us know if we may provide additional color or answer any other market questions you may have by replying to this note.
Additional IIR Resources:
- IIR Team Email: iirteam@iirenergy.com
- Latest IIR Crude & Products Market Scorecard
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 Trillion (USD).
