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Released June 09, 2023 | SUGAR LAND
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(Editor's note: This is an excerpt from a blog by IIR Energy and Refinitiv, a provider of financial technology, data and expertise.)
Researched by Industrial Info Resources (Sugar Land, Texas)--Looking ahead, what are the likely developments within the North American refining industry over the coming 12 months?
IIR Energy's Senior Director of Energy Market Intelligence, Hillary Stevenson, sees potential for a grassroot refinery final investment decision (FID), explaining that IIR Energy is tracking five grassroot projects.
Jim Mitchell, Head of Americas Oil Analysts, Refinitiv, contends that of the five U.S. grassroot projects on IIR's watchlist, Red Leaf Resources Incorporated's (Salt Lake City, Utah) Duchesne Refinery in Utah--which will consume local waxy crude production--is arguably the most viable. That said, he points out that Meridian Energy Group Incorporated's (Belfield, North Dakota) Davis Refinery in North Dakota and MMEX Resource Corporation's Fort Stockton Refinery in Texas may be best placed to take advantage of the regulatory incentives already outlined. Subscribers to Industrial Info's Global Market Intelligence (GMI) Petroleum Refinery project and plant databases can click here for the project reports and click here for the related plant profiles.
Stevenson goes on to say, however, that the market is more likely to see some in-plant capital projects, which could potentially add 112,500 barrels per day (BBL/d) of capacity over the next several years. This so-called refinery creep is in part driven by the simple fact that it is generally easier to grow capacity by expanding existing footprints rather than opening new refineries.
In addition, IIR Energy is tracking a selection of refinery restarts, which could add back capacity of up to approximately 497,000 BBL/d.
Given the many variables that impact the North American refinery landscape and the highly dynamic nature of this industry, there is a fundamental need for market players to equip themselves with equally dynamic, trusted data that can power better decisions against a complex global backdrop.
Those that do so will be best placed to minimize risk, solve the challenges that currently define this space and maximize the opportunities on offer within the sector.
Click here for the entire blog.
In subsequent blogs within this series, we will unpack other anticipated projects and developments across the globe, as well as their potential impact on international crude and fuel markets.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 Trillion (USD).
Researched by Industrial Info Resources (Sugar Land, Texas)--Looking ahead, what are the likely developments within the North American refining industry over the coming 12 months?
IIR Energy's Senior Director of Energy Market Intelligence, Hillary Stevenson, sees potential for a grassroot refinery final investment decision (FID), explaining that IIR Energy is tracking five grassroot projects.
Jim Mitchell, Head of Americas Oil Analysts, Refinitiv, contends that of the five U.S. grassroot projects on IIR's watchlist, Red Leaf Resources Incorporated's (Salt Lake City, Utah) Duchesne Refinery in Utah--which will consume local waxy crude production--is arguably the most viable. That said, he points out that Meridian Energy Group Incorporated's (Belfield, North Dakota) Davis Refinery in North Dakota and MMEX Resource Corporation's Fort Stockton Refinery in Texas may be best placed to take advantage of the regulatory incentives already outlined. Subscribers to Industrial Info's Global Market Intelligence (GMI) Petroleum Refinery project and plant databases can click here for the project reports and click here for the related plant profiles.
Stevenson goes on to say, however, that the market is more likely to see some in-plant capital projects, which could potentially add 112,500 barrels per day (BBL/d) of capacity over the next several years. This so-called refinery creep is in part driven by the simple fact that it is generally easier to grow capacity by expanding existing footprints rather than opening new refineries.
In addition, IIR Energy is tracking a selection of refinery restarts, which could add back capacity of up to approximately 497,000 BBL/d.
Given the many variables that impact the North American refinery landscape and the highly dynamic nature of this industry, there is a fundamental need for market players to equip themselves with equally dynamic, trusted data that can power better decisions against a complex global backdrop.
Those that do so will be best placed to minimize risk, solve the challenges that currently define this space and maximize the opportunities on offer within the sector.
Click here for the entire blog.
In subsequent blogs within this series, we will unpack other anticipated projects and developments across the globe, as well as their potential impact on international crude and fuel markets.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 Trillion (USD).
