Greenhouse gas emissions occur alongside an inflection point for global refined product consumption. Since the 1850s—when the first oil refineries were constructed—the world has changed dramatically as refined product demand has continued inexorably upward.
Oil and gas, petrochemical and chemical companies face the difficult challenge of maximizing profitability while achieving aggressive decarbonization objectives set for 2030 and beyond.
This two-part article will cover the seven pathways to decarbonizing the oil and gas and petrochemical industries.
Investing in firms that champion environmental, social and governance (ESG) issues (TABLE 1) has been discussed for decades but is now moving to the forefront of corporate initiatives.
Pressure instrumentation is crucial for the functionality and safety of hydrocarbon processing facilities worldwide.
Le Grange, P.,
Tekebayev, K.,
Goettler, L.,
Kiebert, J., Sulphur Experts;
Sheilan, M., Amine Experts
Diesel with a portion of biologically sourced carbon is being produced at an increasing number of conventional crude oil refineries.
In recent years, growing concern about increasing atmospheric carbon dioxide (CO2) levels has put mounting pressure on governments and on processing industries to curb carbon emissions.
The marine shipping industry, which accounts for 80% of global trade and 3% of annual global carbon emissions,1 must adhere to stringent International Maritime Organization (IMO) goals of reducing total annual greenhouse gas (GHG) emissions by at least 50% below 2008 levels by 2050.2
The U.S. Energy Information Administration projects that carbon dioxide (CO2) emissions will decrease through 2050 in Organization for Economic Co-operation and Development countries (OECD), which includes the U.S.1
In a post-pandemic economy, global governments and industry participants are increasingly committing to meeting climate action targets.