Tags
Industry News

Price fluctuations, shale gas success shift market dynamics: Frost & Sullivan

The global oil and gas market is currently witnessing a dynamic shift in the trade flow of many refinery products. While the dip in crude oil prices is forcing major suppliers to look toward diversifying their oil and gas portfolios to include refinery products and petrochemicals, the success of shale gas and oil in the US has created self-sufficiency and is pushing the market toward increased exports. Demand, driven by Asian countries, and implementation of regulations related to sulphur and other pollutants, especially in the developed economies, are further factors affecting supply and demand and the long-term product trade flows across the globe. 

Frost & Sullivan's industry docket, Global Oil Markets Outlook, 2017, examines the factors that will affect the global market for refinery products such as gasoline, diesel, jet fuel, LPG, fuel oil, and naphtha. Current supply and demand across North America, Latin America, Europe, Asia, Africa, and the Middle East have been analyzed. Economic, technological, and regulatory factors were taken into consideration to forecast the future demand, supply and trade flow of major refinery products. 

"While gasoline demand is likely to be driven by emerging markets, developed markets will see a drop in traditional fuel use as they move toward responsible consumption, fuel-efficient automotive and electric vehicles," said Frost & Sullivan Visionary Science Consultant David Anil.

Further trends driving global oil market growth include: 
  • North America and the Middle East dominating gasoline export and targeting Latin America, Africa, and Asia with surplus; 
  • Asia driving diesel demand growth due to the boom in the industrial sector; 
  • Increased shale gas production in North America leading to lower costs and availability of raw materials; 
  • Demand for jet fuel in China due to increase in low-cost airlines; and 
  • High demand for LPG in Asia due to use as residential fuel and chemical feedstock. 

"While Asia is expected to increase refining capacity through 2020, especially in India and China, and become a dominant refiner, lack of competitiveness in Western European refiners and capacity constraints in Africa and Latin America is  pushing the refining industry to look toward other regions," noted Anil.

Latest News

Tags
Industry News

Canadian equipment rental revenue expected to reach $5.35 billion in 2018

Canadian equipment rental revenue  expected to reach $5.35 billion in 2018

In its latest five-year forecast, the American Rental Association (ARA) expects equipment rental industry revenue to continue to grow consistently in the United States over the next five years, resulting in total revenue of $59.6 billion in 2021. According to the ARA Rental Market Monitor™ five-year forecast updated in February, total rental revenue in the U.S. is expected to grow by 4.5 percent in 2018 to reach $51.5 billion, 5.6 percent in 2019, 5 percent in 2020 and 4.4 percent in 2021. The February forecast is identical to the previous forecast released in November 2017 for 2018, with slight upticks in the expected revenue growth rates for 2019 through 2021.

Read More

Atlas Copco PAS Pumps Make First Appearance at The Rental Show

Atlas Copco PAS Pumps Make First Appearance at The Rental Show

Three high-flow pumps from Atlas Copco Power Technique North America are on display at The Rental Show for the first time. The PAS open frame pump systems consist of a highly efficient diaphragm pump with a semi-open impeller and a large separator, allowing the pumps to pass true 3-inch spherical solids. Air is separated from the liquid and sucked by the vacuum pump, making automatic and efficient priming possible. Both wet prime and dry prime options are offered.

Read More

Tags
Drilling & Production

Vermeer and Mincon form distribution alliance for rock tools

Vermeer and Mincon will work together to provide rock tooling to the HDD industry and others around the world.

Two of the horizontal directional drilling (HDD) industry's leading equipment and tooling manufacturers, Vermeer Corporation and Mincon Group PLC, have formed a distribution alliance to expand contractors' access to quality rock tooling worldwide. As part of the agreement, Vermeer dealers are now the exclusive channel for Mincon HDD air hammer systems, HDD pull reaming hammers and HDD support equipment, including HDD support stations and oilers.

Read More

Unique-to-Canada Ram 1500 Sport released at Canadian International Autoshow

Debuting during media day of the Canadian International Autoshow, the all-new and exclusive-to-Canada 2019 Ram 1500 Sport is designed specifically for Canadian truck buyers, who have made the ‘Sport' trim the country's most popular Ram light-duty model. The all-new Ram Sport features unique exterior design cues, interior treatments and custom options.

Read More

Tags
Pipelines

NETZSCH expands NEMO PC pump line

NETZSCH expands NEMO PC pump line

NETZSCH has added to its line of FSIP (full service-in-place) NEMO progressive cavity pumps. Ideal for wear-intensive applications, the maintenance-friendly FSIP design has been re-engineered to provide full access to all the pumps' rotating parts. NEMO FSIP is now available in six sizes (NM045 to NM105) for flow rates up to 180 m3 per hour. NEMO FSIP models are now offered with differential pressures up to 6 bar (1-stage) up to 12 bar (2-stage), identical to the performance parameters of the standard series.

Read More

Tags
Industry News

Cenovus records strong earnings for 2017

Cenovus records strong earnings for 2017

Cenovus Energy Inc. delivered strong cash from operating activities and adjusted funds flow in 2017. Through its continued focus on capital discipline and reliable operational performance, the company generated almost $1.3 billion in free funds flow last year. Cenovus also completed the divestitures of its legacy conventional oil and natural gas assets within its expected timeframe. 

Read More

Tags
Instrumentation, Systems & Automation

Wireless inclinometer from SignalFire monitors tank hatches and pump jack motion

SignalFire Wireless Telemetry introduces the TiltSCOUT, a new, patent-pending, intrinsically safe wireless inclinometer for tank hatch detection and pump jack motion monitoring. The innovative device helps mitigate environmental and safety risks associated with accidental emissions from tanks by monitoring and reporting the status (opened, partially opened, closed) of the tank's hatch. The built-in, three-axis sensor continually monitors the hatch and wirelessly transmits status if the tank hatch is moved. This feedback can help operators avoid or minimize environmental and unsafe gas emissions from a tank. 

Read More

Tags
Industry News
Instrumentation, Systems & Automation
Occupational Health & Safety

Honeywell offers mixed-reality simulation for plant personnel training

Honeywell now offers a cloud-based simulation tool that uses a combination of augmented reality (AR) and virtual reality (VR) to train plant personnel on critical industrial work activities. With as much as 50 percent of industrial plant personnel due to retire within the next five years, the Honeywell Connected Plant Skills Insight Immersive Competency is designed to bring new industrial workers up to speed quickly by enhancing training and delivering it in new and contemporary ways. 

Read More