The U.S. downstream sector is being affected by four major trends in 2022. And only one of them is helping the industry, according to a Reuters Events report published in conjunction with the multinational engineering and consulting leader Wood.
The key trends shaping downstream growth in the United States, released in advance of the Reuters Events Downstream USA 2022 conference and exhibition in Houston on June 8 and 9, highlights four major headwinds for the industry:
- The role of government regulations and policies – including exclusive insight from Chevron EVP & Chemours CEO.
- Maintaining competitiveness– contributors include Chevron Phillips Chemical SVP & Baystar (Total Energies Petrochemicals & Refining USA, Borealis and Nova Chemicals JV) President.
- How technology is enabling transformation – discussed by Shell VP, BASF Asset Lead & LyondellBassell Turnaround Lead.
- Unlocking innovation and skills – explored by Dow SVP, Shell CIO & Braskem CIO.
On the plus side, digital technology is being used as an enabler for transformational change. The downstream sector is no stranger to using technology as the key to new opportunities, and many players are already using digital tools to maintain and improve competitiveness.
“Who you partner with is key. Operators need to leverage the right technology and expertise to convert data into actionable insights to drive, sustainability, performance and efficiency,” says Azad Hessamodini, president of strategy & development at Wood.
Plus, said Bridget Robinson, global project director for downstream at Reuters Events, “there is a sense that the downstream sector’s digital journey has only just begun. Recent challenges have forced companies to dig deeper into digital innovation, uncovering new benefits and efficiencies.”
The key trends shaping downstream growth in the United States report features insights from leaders at BASF, Baystar, Braskim, Chevron, Chevron Phillips, Chemours, Dow, LyondellBassell and Shell and is available for download for free now by clicking here.
It is being released in conjunction with the Downstream USA 2022 conference and exhibition, which takes place on June 8 and 9 at the NRG Center, Houston, with more than 5,000 petrochemical, refining, chemical and liquified natural gas industry executives.
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