Navigating the Future of Petrochemicals
Petroleum companies must prepare for an increasingly challenging and uncertain period to capture the new round of value-creating opportunities ahead. It is vital for companies to reduce costs and increase efficiency while investing in next-generation technologies and digital solutions to help them remain competitive in an increasingly complex and unpredictable market.
They must also pay attention to the sustainability of their operations and ensure that they are taking steps to reduce their environmental impact.
Sourcing of gas-linked chemicals: There were significant shutdowns worldwide, as well as a decrease in the production of gas-linked chemicals, such as ammonia and methanol, due to the reduction in gas supply. There was a 35 percent reduction in operating rates of ammonia in 2022 compared with 2020. There was a 20 percent reduction in methanol operation rates. Additionally, the availability of gas-linked chemicals was adversely affected by reduced Russian exports, especially ammonia and urea, used as fertilizers.
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22-Apr-2024 04:27 pm
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