Today's landscape for engineering, procurement, and construction (EPC) companies working in the oil and gas sphere is mired with project complexity, rising costs, exposed risk and low oil & natural gas prices.
In 2008, PayPal co-founder Peter Thiel gave half a million dollars to a Google engineer named Patri Friedman, the grandson of economist Milton Friedman. The money was to establish the Seasteading Institute, which aims to spearhead the development of politically autonomous, floating "seasteads" in unregulated international waters. This was to be the beginning of a long experiment in civilization building. It also turned out to be the origin of many, many puns.
Oil prices are down nearly 10 percent over the past month, leading some to wonder if we're set for a resumption of the plunge seen between 2014 and early 2016. Executives at oil companies, however, are optimistic.
Five years ago, the thought of $55-a-barrel oil would have given Piotr Galitzine heartburn. Now it's keeping one of his steel-pipe shops in Houston open 24/7 and fueling a flurry of orders.
China's government pledged to dramatically slow a coal-power building binge that is threatening its environment, saying it would shut down dozens of coal-power plants and stop some new construction.
Analyst Insight: The chemical industry is a critical partner to many other industries, with nearly 96 percent of all manufactured products being touched in some way by chemistry. The accelerating pace of product life-cycles, driven by demand for new and innovative products, plays an important role in driving the need for innovation in the chemical industry. To drive innovation and improve business performance, chemical companies are looking at the role of digital transformation as a lever to improving the innovation process. – John Santagate, Research Manager, IDC
Analyst Insight: The chemical/energy industry market is ripe with mergers and acquisitions on a global basis as a way for businesses to position themselves for sustained growth. With low fuel prices, foreign competition and an uncertain economy, processors are shuffling their portfolios to offset losses. – Simon Hardy, senior supply chain evangelist, Elemica
Royal Dutch Shell Plc. will build seven fueling stations for hydrogen cars in California through a partnership with Toyota Motor Corp., laying down their latest bet on the demise of the internal-combustion engine.
The latest supply-chain news, analysis, trends and tools for executives in the chemicals and energy industries. Learn how chemical and energy companies and their suppliers around the world are managing the flow of products across all channels of the enterprise. Experts sound off on forecasting and demand planning, supply-chain visibility, logistics outsourcing, inventory optimization, transportation management, warehouse management, supply-chain security, corporate social responsibility and more.
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