Americas target petrochemicals
The region is playing a more prominent role in global petrochemical capital investments
The global petrochemical sector continues to expand exponentially as developing nations' demand for petrochemical/chemical products continues to increase. In its Oil 2018 report, the International Energy Agency (IEA) forecasts that approximately 25pc of the increase in oil consumption to 2023—nearly 1.7mn bl/d—will be from demand for petrochemical feedstocks. Growing demand centres in the Asia-Pacific region will be met by billions of dollars of new petrochemical production capacity in Asia, the Middle East and—crucially—North America. These three regions are investing heavily to boost petrochemical processing capacity to satisfy demand, and the US and the Middle East will export products to
Also in this section
17 October 2024
Experts debate carbon pricing and fossil fuel subsidies in the MENA region on second day of summit
17 October 2024
In our final look back into the Petroleum Economist archives, we turn the clock back to September 2016
17 October 2024
Keynotes on first day of Dii Desert Energy Leadership Summit celebrated 15 years of progress and outlined strategies for accelerating clean energy
16 October 2024
The impact from Libya’s lost barrels versus the threats to Iranian supply highlight the type of buffer in the oil market and the demand implications