Industrialinfo.com Highlights Capital Spending for Petroleum Refiners and Petrochemicals on Industry Today Radio Program

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Researched by Industrialinfo.com (Industrial Information Resources, Incorporated; Houston, Texas). Together, the petroleum refining and chemical processing industries are forecast to spend approximately $31 billion in capital dollars for the year 2003, representing almost 16% of the total capital forecast for the entire year across all industries here in the U.S. In the upcoming broadcast of Industry Today, a weekly radio program broadcast live from Detroit, Michigan and on the internet at Industrialinfo.com Radio, two of Industrialinfo.com's industry managers will talk about upcoming projects and trends that are driving spending in these industries.

Chris Paschall, Petroleum Refining Group Manager with Industrialinfo.com will discuss the largest projects currently taking place in the refining industry and explain what is driving many of these projects during a time that the price of oil is so volatile. "There are currently over 160 operating refineries in the United States and most all of these refiners are aiming capital dollars at clean fuels program initiatives or environmental compliance projects," commented Mr. Paschall. "Of the nearly $15 billion that is forecast for this year in the industry, I estimate that over half of those dollars will be spent on NOx compliance and low sulfur fuels projects," added Mr. Paschall.

Trey Hamblet, Chemicals Group Manager with Industrialinfo.com will join this segment of Industry Today to provide insight on the top petrochemical projects and upcoming trends. Petrochemicals such as olefins and some acids are produced both in traditional chemical plants as well as in petroleum refineries. The largest portion of spending in this segment is in ethylene as producers scramble to employ the newest and most efficient technologies to reduce NOx emissions. In a recent article NOx Reduction Requirements Along the Gulf Coast Drive Capital Spending, Industrialinfo.com identified fifty (50) projects totaling nearly $2 billion in capital spending related to NOx compliance projects.

Join Crazy Al of Crazy Al's Radio Party right here on Industrialinfo.com at 7:30 am (CST) Monday March 31st for an informative half hour discussion on these trends and more.