Houston, TX (PRWEB) September 05, 2016
Petrochemical Update released a new whitepaper today, Unlocking Savings in Small to Midsize Capital Projects at US Refineries, with senior-level contributors from PHILLIPS 66, HOLLYFRONTIER, MOTIVE and WOOD GROUP MUSTANG. The whitepaper provides crucial progress updates on announced and delayed refinery capital projects in North America, as well as strategies for unlocking savings across project selection, project planning and project execution.
“Refining Engineering & Construction 2015 saw the industry optimistically moving forward with billions of dollars of planned capital project investment, for both small and large refinery projects, with the main focus for owners and EPCs being on improving cost margins and schedule performance.” Said Karla Sharp, Senior Project Director, Petrochemical Update. “For 2016, we have seen a major shift in industry opinion. Price volatility within the wider energy market is causing waves of uncertainty among refiners and their wider network of partners. This has meant company-wide reassessments on which projects capital should be invested in to for the highest value returns and lowest risk.”
Spending in the US refining sector will be mostly driven in the mid-term by small, quick-return optimization and reliability projects, and by facility upgrades to address octane-loss issues, according to INDUSTRIAL INFO RESOURCES, a leading provider of global market intelligence. Kane Hittle, Vice President and Project Manager at HOLLYFRONTIER’s El Dorado refinery in Kansas, seconded this notion, stating that for them there has been a shift towards smaller and midsize projects as refinery margins have been squeezed.
Optimization and upgrade projects may now be the preference among many of the major North American refiners, but with uncertainty predicted to continue in to 2017, every project getting the go-ahead could mean the difference between boom and bust for these companies. It has never been more important for companies to reassess and improve upon existing processes to capitalize on all possible gains.
With this in mind, this whitepaper addresses key areas where refiners and EPCs can unlock savings:
1. Analysis of project delays and projects going ahead
2. Unlocking savings in project selection
3. Unlocking savings in the planning process
4. Unlocking savings in contracting and procurement
To download the full whitepaper, with insight from PHILLIPS 66, MOTIVA ENTERPRISES, HOLLYFRONTIER, WOOD GROUP MUSTANG, BENTLEY SYSTEMS & MCKINSEY & COMPANY visit http://1.petchem-update.com/LP=14018
Please contact Karla Sharp using the details below with any questions or feedback.
Karla Michelle Sharp
Senior Conference Director
T: +44 (0)20 7422 4321 (UK Office)
USA Toll Free: 1800-814-3459 ext. 4321