Amidst the global expansion of the petrochemical production sector, the tenth anniversary edition of the Petrochemical and Refining Congress is about to outline the future of the petrochemical market. Several nations have recently been contemplating measures to expand the output capacity of the sector by upgrading refineries to produce vast amounts of essential petrochemicals.
The recent events in Venezuela have shaken the global energy industry to its core
As the world enters a new year loaded with potential to expand energy markets, the reality of the current energy industry is that the vast majority of the world is aiming to expand petrochemical production to meet an expected increase in demand on the global stage.
The ever-volatile energy industry has raised concerns over sufficient supply to meet increased demand over the coming years. The oil and gas market has been consumed by the recent events in South America. On the 2nd of January, the US launched a military operation to capture the Venezuelan President Nicolás Maduro and bring him to the United States to face prosecution.
While the official reasoning for this from the federal government is narcoterrorism, many have noted that the real reason is that the US wants to gain access to Venezuela’s vast amounts of oil. The market is reacting, and oil prices are set to reach astonishingly high levels as a result. The US is aiming to continue its rapid expansion of oil production by leveraging the huge troves of oil and gas in the South American nation.
Global cooperation is the only method to expand the petrochemical market
Regardless of the happenings in South America, the latest Petrochemical and Refining Congress is set to take place in Amsterdam in May. The event will bring together over 200 energy companies, 400+ delegates, with the specific goal of fast-tracking the petrochemical and refining partnerships in Europe.
The event will see over 300 pre-arranged B2B meetings that will provide an opportunity for petrochemical producers to meet and discuss further measures to partner up and develop new and exciting petrochemical and refining operations around the European continent.
Business-to-business meetings will shape the agenda, as the congress is designed to enable discussion over core challenges and transition paths for the refining and petrochemical sector. The top priority for the companies involved will be circular feedstocks, decarbonization, sustainable operations, and emission reduction. All of which will be viewed through real-world applications.
Some of the energy companies and speakers that will be involved in the tenth annual Petrochemical and Refining Congress are:
- Lummus Technology
- Wood and Sonatrach Raffineria Italiana
- Shell
- Petrofac
- Bayernoil Raffineriegesellschaft
- Evonik Operations
The future of the petrochemical market depends on global cooperation
As nations like China have expressed their ambitions to expand petrochemical refining through several major upgrades at older refineries, the congress is specifically designed to foster an open dialogue between energy companies, which will shape the future of the petrochemical market for the decades to come.
The reality of the global energy market is that sentiments for alternative energy products are increasing, with several nations now aiming to develop their own petrochemical sectors over the coming years to meet an anticipated increase in demand.
Even nations swept up in protests are developing the petrochemical industry
The remarkable growth of the petrochemical industry has led to nations that are currently embroiled in protests by the population to expand their own petrochemical production market, such as the Middle Eastern nation of Iran. The latest congress brings together all the relevant players on the global petrochemical stage and paints the picture of global cooperation that will expand the sector dramatically over the coming years.
