2021 North American Industrial Market Outlook: $15.5 Billion of Potential Refinery Kickoffs Tracked in U.S., Canada
Industry Segment: Petroleum Refining | Word Count: 933 Words
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SUGAR LAND January 22, 2021 Researched by Industrial Info Resources (Sugar Land, Texas) Industrial Info has identified $15.5 billion worth of petroleum refining project activity in the U.S. and Canada that is proposed to start construction this year through 2022. Refiners took a drubbing in 2020 as a result of the COVID-19-induced drop in demand, and the amount of project activity proposed at the beginning of any year usually drops significantly as the year progresses. Still, in-plant capital projects and unit additions have a good chance of moving forward, said Chris Paschall, Industrial Info s vice president for refining & crude research, during last week s 2021 North American Industrial Market Outlook event.