WORLD NEWS
June
2016
HYDROCARBON
ENGINEERING
10
US DOE |
Biorefinery project funding
T
he US Department of Energy (DOE)
has announced up to US$90 million
in project funding focused on integrated
biorefinery facilities. Project
Development for Pilot and
Demonstration Scale Manufacturing of
Biofuels, Bioproducts and Biopower is a
funding opportunity meant to assist in
the construction of bioenergy
infrastructure to integrate cutting edge
pretreatment, process and convergence
technologies. This will support efforts to
improve and demonstrate processes that
break down complex biomass feedstocks
and convert them to gasoline, diesel and
jet fuel, as well as plastics and chemicals.
The DOE and the US Department of
Agriculture estimate that the US could
sustainably produce more than 1 billion t
of biomass that could be converted to
biofuels, bioproducts and biopower. This
could potentially displace over 25% of
US petroleum use and reduce greenhouse
gas emissions by 550 million t.
IEA |
Global oil market trends
G
lobal oil supplies rose 250 000 bpd in
April from the preceding month to
96.2 million bpd, according to the
International Energy Agency (IEA)
Oil Market Report (OMR) for May.
However, world output grew by just
50 000 bpd y/y in April, versus the rise of
more than 3.5 million bpd a year earlier.
Non-OPEC supply is forecast to drop by
800 000 bpd in 2016 to 56.8 million bpd.
OPEC crude output rose by
330 000 bpd in April to 32.76 million bpd
as a 300 000 bpd jump in Iranian flows
and a boost in supply from Iraq and the
UAE offset outages in Kuwait and Nigeria.
Global oil demand growth for 1Q16 is
1.4 million bpd, led by strong gains in
India, China and Russia. For the year,
growth will be around 1.2 million bpd,
with demand reaching 95.9 million bpd.
Stock builds are beginning to slow in
the OECD: in the first quarter they grew
at their slowest rate since 4Q14, and
February saw the first draw in a year. In
March, OECD commercial inventories
fell by 1.1 million bpd, with initial data for
April suggesting that stocks rebounded
while oil held in floating storage rose.
Global refinery throughput for the
current quarter is forecast at
79.6 million bpd, with the
700 000 bpd y/y gain falling below
anticipated demand growth of
1.2 million bpd. The estimate for the
previous quarter has been revised higher
by 200 000 bpd to 79.5 million bpd.
Freedonia |
Corrosion inhibitor demand
U
S demand for corrosion inhibitors is
forecast to rise 3.1%/y to
US$2.8 billion in 2020, while volume will
approach 1.7 billion lbs, according to the
new Corrosion Inhibitors study from
The Freedonia Group. The oil and gas
market, which remained in a severe
downturn entering mid-2016, is
expected to see recovery take hold by
2020, leading to greater demand for
corrosion inhibitors in drilling and
hydraulic fracturing applications. While
healthy growth is expected overall, the
presence of several relatively mature
markets, such as lubricant and fuel
additives, will prevent stronger
advances.
Chemical manufacturing will present
the most rapid growth in demand over
the next few years as the industry
benefits from low feedstock and energy
prices. The petroleum refining industry
will remain the largest market for
corrosion inhibitors, despite below
average growth. Corrosion inhibitor treat
rates in lubricants and other products will
increase in some cases despite market
maturity, as lubricants are expected to
provide longer change intervals in
automotive and other applications.
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