Last updateMon, 21 Jan 2019 8pm


U.S. Southwest Ranks First in North American Refinery Turnaround Spending

Industrial Info is tracking $1.87 billion in planned refinery turnaround spending in North America with kickoffs in 2019. The Southwest region, home to approximately 50% of the U.S. refining capacity, ranks the highest in terms of spending, with just over $733 million planned this year. Western Canada is in a distant second, with more than $200 million. 

Project Spending by Market Region Name

Oil Majors to Increase Offshore Spending

“After four years of cutbacks, oil companies are poised to open their purses again and develop new offshore fields, although the benefits won’t be spread equally across the companies who provide them everything from seismic surveys to pumps and turbines,” Bloomberg reports.

“The long-awaited spending rebound will re-energize oil-services providers that have survived the deepest crisis in a generation thanks to cost cuts, mergers and sometimes painful debt restructuring. But for some debt-laden suppliers, the investment pickup may come too late.” 

Oil Export Terminal Off Texas Coast Proposed

A joint venture consisting of Enbridge, Kinder Morgan and German company Oiltanking “is proposing to build an offshore export terminal that will be capable of receiving supertankers in the Gulf of Mexico just south of Freeport,” The Houston Chronicle reports.

“The proposed terminal will require approval by federal regulators, but early plans show that the facility will be supported by an underwater pipeline. If approved and completed, the terminal will be able to receive and fully load Very Large Crude Carriers, or VLCCs, which can carry up to 2 million barrels of oil.” 

Renewables, Natural Gas Make Up Most New Power Generation in 2019

According to EIA’s latest inventory of electric generators, 23.7 gigawatts (GW) of new capacity additions and 8.3 GW of capacity retirements are expected for the U.S. electric power sector in 2019. The utility-scale capacity additions consist primarily of wind (46%), natural gas (34%), and solar photovoltaics (18%), with the remaining 2% consisting primarily of other renewables and battery storage capacity. 

BP Discovers One Billion New Barrels of Oil in Gulf of Mexico

BP has approved a major expansion at the Atlantis field in the U.S. Gulf of Mexico and has also identified significant additional oil resources that could create further development opportunities around the production hubs it operates in the region.

The approval for this latest development comes after recent BP breakthroughs in advanced seismic imaging and reservoir characterization revealed an additional 400 million barrels of oil in place at the Atlantis field. Application of this technology and reservoir characterization has now identified a further 1 billion barrels of oil in place at the Thunder Horse field. 

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