Refinery
In this period of social and economic confusion, Gas projects seem to benefit from an exceptional stability.
The level of investment for gas projects is equal in 2020 to 2019.
As part of the underlying Oil & Gas and Petrochemical market revolution, the business model for projects is changing.
In fact, the new business model is a return to the basic of ROI (Return on Investment) calculations.
Thus, the new business model aims to shorten project timeline while controlling costs. Delivering “Fast-track” projects in 2-3 years.
Surprisingly, the Oil & Gas and Petrochemical market stands robust on Q3 2020 by reaching 12 months 2019 capital expenditure.
Where do we stand 6 months in 2020?
we decided to investigate the reality of data and crunch our numbers from www.projectsmartexplorer.com to make an inventory halfway through the year.
Today trends on the market give us the forecast Capital Expenditures for 2020 should end-up at the same level or above compared to 2019. Previsions for 2021 are also high, fueled by projects postponed.
Medias have largely covered the last weeks Ups and Downs of the Oil & Gas and Petrochemical industry. Well, mostly the Downs in fact.
To figure out the reality, we crunched the numbers from our database www.projectsmartexplorer.com
In fact, the outlook of the Petroleum industry is rather different than what has been massively reported.
All crises are creating threats and opportunities, but the accumulation of a double crisis in energy prices and pandemic Covid-19 generates a unique situation.
In this unusual context, we try to evaluate the consequences of this double crisis on the Oil & Gas and Petrochemical market, especially the areas under threats and in opposite way where we should see opportunities.
Did you see the Oil & Gas and Petrochemical Market Shift and Upturn?
The volume of Oil & Gas and Petrochemical engineering, procurement and construction (EPC) contracts awarded in 2018 is about to double compared with 2017 as a consequence of the market shift from the international oil companies (IOCs) to the national oil companies (NOCs) and independent companies.
Already more than double the 2017 business From the numbers we collected at the end of June, the LNG market has already awarded in 2018 twice more business than the entire 2017 year. At the beginging of the year our market analysis was already promising a boom for 2018 and the figures extracted from www.projectsmartexplorer.com data […]
