Two new steam-cracking processes developed by ExxonMobil and Saudi Aramco, respectively, allow petrochemical producers to essentially skip the refining process in converting crude oil directly to light olefins. These new processes could potentially save refiners as much as $200-per-ton of ethylene produced, according to a comprehensive engineering analysis conducted by IHS.
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IHS has released its outlook for Canadian oil sands production through 2025. IHS expects continued oil sands production growth through the period, with oil sands growth entering a new phase driven primarily by the expansion of existing facilities with more attractive economics.
In low-price world, Canadian oil sands and U.S. tight oil remain twin pillars of North American energy security, IHS report says
Canadian oil sands and U.S. tight oil production have become the twin pillars of North American energy security, accounting for nearly 95 percent of North American production growth from 2009-2015 and reducing offshore oil imports during that period by 40 percent, says a new report by IHS. Despite expected declines due to low oil prices, total North American production this year (on an annualized basis) is expected to remain far above the 2009 level of 8.5 mb/d, around 13 million barrels per day (mbd).
ExxonMobil Chemical leveraging feedstock advantages to deliver new capacity for servicing growth in developing countries
ExxonMobil Chemical, the world’s fourth-largest chemical company, continues to ensure its competitiveness in a low oil-price environment, according to a new report from IHS Inc. This competitiveness, the report says, is due largely to the status of ExxonMobil Chemical as a leader in proprietary technology, a geographically diversified portfolio, its access to advantaged feedstocks, its ability to upgrade co-products, and its strong refinery integration.
US bulk chemical exports to increase in 2016 and beyond as shale gas-derived production expansions come online
Despite low crude oil prices, new U.S. shale gas-derived chemical expansions continue to move forward, and more than 100 million metric tons (MMT) of new capacity will be added in the U.S. chemical industry by 2025. Much of that new capacity will be converted to plastics, significantly increasing the U.S. net export position for these materials, according to new research from IHS, the leading global source of critical information and insight.
IHS, a leading global source of critical information and insight, announced the release of IHS ASME BPVC Advantage, an advanced version of the Boiler and Pressure Vessel Code. The Advantage version of the ASME (American Society of Mechanical Engineers) Code is available online allowing users to work more efficiently with sophisticated and easy-to-use research, reference and collaborative tools. ASME is a not-for-profit professional organization for the mechanical and multidisciplinary engineering and allied sciences communities. “The Advantage version of the ASME Boiler and Pressure Vessel Code gives engineers the electronic capability to use and share the technical information they’ve been asking for,” said Michael Merker, managing director, C&S Operations of ASME. “The collaboration tools alone will create significant efficiencies across any organization.” Rapid access menus, innovative tracking and annotating features allow users to find, manage and share critical technical information from their desks or mobile devices. “We knew this was going to have a great impact on workflow improvement for our customers,” said Tom Littman, senior vice president, IHS Technical Publishing. “The product was developed with their input, as we took the traditional version of the BPVC from a read-only reference material to a dynamic, interactive tool.”