It is widely accepted that new management methods are needed to curb the frequent delays and cost overruns observed in engineering and construction projects.
During the 1960s, the global refining and petrochemical industries witnessed new processes and products that enhanced the daily lives of millions of people around the world.
This two-part article will cover the seven pathways to decarbonizing the oil and gas and petrochemical industries.
Among the dominant, far-reaching themes within the global refining and petrochemicals industries are the increase in biofeedstocks processing to produce biofuels and greener petrochemicals, the continued push towards clean fuels production, regulations and initiatives to adhere to net-zero emissions targets, and a surge in capital investments to build renewables and sustainable aviation fuels (SAF) plants.
The following is a mixture of technical articles, columns and headlines published in the 1950s by Petroleum Refiner, the forerunner to Hydrocarbon Processing.
According to an industry report published by McKinsey and Co., accelerating the decarbonization of the U.S. economy to achieve net-zero targets by 2050 will require approximately $275 T of cumulative capital spending over the next 30 yr.1
Chemical manufacturers worldwide are navigating an inflection point. Following the pandemic-fueled demand crash of 2020, a strong but stilted recovery unfolded in 2021.
New capital project announcements are down 27% in 1Q 2022 vs. 1Q 2021.