U.S. plans to impose steel tariffs on imports from Canada, Mexico and the EU could threaten production of natural gas liquids (NGLs) as well as oil and natural gas, a big risk for capital investment, the American Petroleum Institute (API) said.
New downstream capital projects are expected to increase U.S. petrochemical capacity by more than 50 million tonnes of new chemical output each year, driving the need for further supply chain investment, the American Chemistry Council (ACC) said.
Oil price recovery, growing demand and increased feedstock supply are driving additional oil and gas capital projects globally, but the U.S. is now capturing the largest share of global energy industry investment, according to data released this week.
As capital projects become larger and more complicated, requiring numerous work packages distributed across multiple contractors, some owners are improving the outcome through interface management solutions.
Canada is becoming an increasingly-attractive area in North America for chemical-related investments because of a highly skilled and educated workforce, a competitive tax system and government subsidies for chemical investments, and cheap and plentiful...