While US petrochemical companies prepare to export more chemicals than ever before, a new report found that supply chain budgets are surging as the industry catches up to the profound downstream growth.
Land-locked oil producers are running out of options to get key feedstock to market as pipeline and rail capacity fills up and the truck driving shortage intensifies.
The U.S. downstream industry is rapidly responding to the energy renaissance with pipelines and infrastructure to transport refined products to the Gulf Coast, northeast or nearby consumers.
Rapidly growing U.S. ethylene production and investment in new derivative capacity has increased the number of ports exporting plastics and opened new markets for U.S. producers, ClipperData told Petrochemical Update.
Port Houston is the first port to participate in a pilot program led by IBM and Danish shipper Maersk which aims to commercialize blockchain technology in the global oil, gas and petrochemical supply chain.
