Refining Majors Plan Ways to Identify Growth Opportunities & Prioritize Projects Amid Market Uncertainty
Houston, TX (PRWEB) August 09, 2016 -- Experts from energy majors including CHEVRON, VALERO, SHELL OIL and PHILLIPS 66 will reassess best practices for project selection, prioritization and execution during market uncertainty at North America’s largest and most highly-regarded refining industry event - Refining Engineering & Construction (REC 2016), November 14-15 at the Omni Houston.
According to market research firm INDUSTRIAL INFO RESOURCES (IIR). U.S. and Canada refinery capital spending is expected to hit $6 billion for those projects beginning construction in 2016, with another $14.49 billion planned for construction kick-off in 2017 and $17.32 billion planned for 2018, despite the current low-cost oil environment.
With such large budgets and conception to completion timelines spanning years, refining owners must continue to make well informed, low risk investments to stay ahead, while also safeguarding their businesses against ongoing uncertainty. Whether it is choosing to delay or shelve a planned project, or deciding between a large new capital investment and a smaller budget maintenance activity, refiners must reevaluate corporate and plant-based decision-making processes to succeed in the current climate.
This shift can already be seen as many of the major refiners are pushing towards smaller, shorter term and lower risk project investments. For midsized and mega projects, more stringent selection processes are being developed and are very variable from company to company.
For example, VALERO is using a collaborative team approach to determine which projects will move ahead right away. Management screens ideas and performs an in-depth analysis to see how the project would perform in a variety of environments, including high-oil price, low-oil price, volatile prices, high and low crack spreads, supply, demand and more. HOLLYFRONTIER uses a three-step approach in determining project viability. The company’s development group do a full analysis and provide best- and worst-case scenarios. It will then use logic to figure out where to go from that point, according to an engineer at HOLLYFRONTIER.
VALERO and HOLLYFRONTIER, along with 70+ of North America’s leading specialists in engineering, construction, modularization and commissioning and start-up have been handpicked to share their experiences on the above in more detail at Refining Engineering & Construction 2016. Other key takeaways will consist of optimized front-end planning, scope definition and supercharged project execution strategies, which will dramatically improve productivity and unlock savings on on-going and future projects.
Speakers include: Carlos Camera, Senior Advisor - Major Capital Projects at CHEVRON; Kane Hittle, VP & Project Manager at HOLLYFRONTIER; James Kleiss, Director - USGC Supply Chain Optimization at VALERO; Manny Walters, Global Contracts Manager at PHILLIPS 66; Ralf Bellaire, Head of Engineering, Executive Vice President at LINDE AG; Michael Van Swol, Vice President, Project Delivery at JACOBS; Steve Coffee, VP Maintenance, Reliability & Turnarounds at DELEK US; and Martin Champagne, Corporate Manager - Motiva Capital Projects at SHELL.
Scott Lawn, Global Capital Efficiency Advisor, Project Development Division at EXXONMOBIL - “I am pleased to be a part of the Advisory Committee for Refining Engineering & Construction 2016. The event is designed to provide insights and strategies for addressing current industry challenges delivered by subject matter experts, and bring key players from across the industry together under one roof.”
More than 700 key decision makers from the world’s top petrochemical and refining stakeholders will be at Refining Engineering & Construction 2016, including SABIC, AKZONOBEL, EXXONMOBIL, SHELL OIL, LYONDELLBASELL, BP, VALERO, KBR, CHEVRON, HEXION, COVESTRO, PHILLIPS 66, MOTIVA, FLUOR, LUBRIZOL, HOLLYFRONTIER, HUNTSMAN, WESTLAKE CHEMICAL, WOOD GROUP MUSTANG, JACOBS and more.
The Refining Engineering & Construction 2016 conference is co-located with the Downstream Modular Construction conference and the Downstream Commissioning & start-up conference, bringing together more than 600 industry leaders in engineering, construction, commissioning, start-up and operational professions.
For more information, download the conference brochure here: http://1.petchem-update.com/LP=12373 or get in touch with Conference Director, Karla Sharp via details below.
Karla Michelle Sharp
Senior Conference Director
Petrochemical Update
T: +44 (0)20 7422 4321 (UK Office)
USA Toll Free: 1800-814-3459 ext. 4321
E: karla(at)petchemupdate(dot)com
Karla Sharp, Petrochemical Update, http://www.petchem-update.com/shutdown-turnaround/, +44 207 422 4321, [email protected]
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