Hydrocarbon Processing - August 2022 - 7

Editorial
Comment
LEE NICHOLS, EDITOR-IN-CHIEF/ASSOCIATE PUBLISHER
Lee.Nichols@HydrocarbonProcessing.com
Although more than 170 yr old, the modern
refining industry continues to evolve
As detailed in Hydrocarbon Processing's
History of the HPI series, the modern oil
refining industry traces its origin back
nearly 170 yr. The industry has not only
propelled much of the world to a higher
standard of living, but has also created
new products and technologies that have
extended life expectancies, created modern
societies and lifesaving equipment,
and revolutionized the way people travel
and communicate.
Due to oil demand, global refining
capacity has increased to more than
102 MMbpd. Over the past several decades,
these capital-intensive facilities
have invested hundreds of billions of
dollars in new units and technologies to
increase clean fuels production, mitigate
emissions, increase energy efficiency and
incorporate new plants to provide products
society demands.
According to Hydrocarbon Processing's
Industry Market Outlook: 2022 Update
webcast, the refining industry continues
to hold the greatest market share vs. other
processing industries; however, the sector
has witnessed a slowdown in total active
projects globally. Active refining projects
have fallen since 2020, a direct effect of
100
200
300
400
500
600
2018
2019
2020
2021
2022
FIG. 1. Active refining projects globally, 2018-2022. Source: Global Energy Infrastructure database.
COVID-19 lockdown restrictions that
led to fuel demand destruction globally.
From 2020-2022, active refining projects
have decreased year-over-year (y-o-y) by
27% and 7%, respectively. This decline
contrasts with 2018-2020 when active
refining projects increased y-o-y 11% and
10%, respectively (FIG. 1).
Moving forward. Many of today's refining
projects are focused on producing
low- and ultra-low-sulfur fuels while
trying to mitigate carbon output. As the
world shifts towards decarbonization,
the refining industry has and continues
to invest heavily in not only mitigating
emissions from processing plants but also
incorporating the latest technologies to
produce sustainable fuels.
These major trends and the evolution
in refining technologies have been the basis
for technical coverage in the pages of
Hydrocarbon Processing for the past 100 yr.
They are also the primary reason why the
publication is devoting an entire Special
Focus to the novel techniques and processing
technologies that can assist in not
only decarbonizing oil processing but also
lead to the green refinery of the future.
INSIDE THIS ISSUE
15 Executive Viewpoint.
Hydrocarbon Processing
sat down with Jason Urso, Chief
Technology Officer, Honeywell Process
Solutions, to discuss the current state
of the process automation industry,
how new technologies are enhancing
efficiency and safety, and what the
future holds for automation.
18 Refining Technology.
New regulations and
government initiatives are putting
increased pressure on refiners. In
response, refiners are utilizing new tools
and processing technologies to increase
productivity, decrease energy usage and
emissions, and maximize production
efficiency. These technologies are
helping refiners not only reduce carbon
emissions, but also increase safety,
reliability and profitability.
44 History of the HPI.
This month's History of the
HPI section examines the major events
and technologies in the refining and
petrochemicals industry in the 1990s.
These include new fuel standards and
directives to curb emissions, high-profile
mergers and acquisitions, the world's
first commercial gas-to-liquids plant,
increased development of metallocene
catalysts and the fieldbus wars.
59 Bonus Report.
This issue's Bonus Report
details the latest advancements in the
gas processing/LNG sector, including
new actuator solutions for spaceconstrained
areas like on FSRU and
FLNG vessels, a new technology to
measure gas purity and energy content
during LNG custody transfer and
electric-drive LNG as a solution to lower
carbon emissions in liquefaction plants.
Hydrocarbon Processing | AUGUST 2022 7

Hydrocarbon Processing - August 2022

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