When the oil price significantly drops, most of the hydrocarbons industry goes into a state of meltdown. However, in the downstream sector, the nose-diving materials costs can generate a generous increase in profitability for the part of the industry that is, traditionally, the most squeezed. Keeping your facility online and raking in the cash while times are good is of the utmost importance, so making sure your refinery is shutdown and turned around safely, within budget and on time is absolutely crucial.
The following infographic is based on a poll conducted by Oil & Gas IQ into trends in the shutdown and turnarounds space. As you will see, although things may be looking up for refining margins, it is not all plain sailing for those charged with keeping these facilities in shipshape condition….
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HAVE YOUR TURNAROUNDS BEEN SHUTDOWN IN THE OIL PRICE DEPRESSION?
After 24 months of the worst oil price depression in living memory, the global industry is reeling from a quarter of a million job losses and no end in sight for oil price lows.
A symptom of this industry-wide malaise has been the squeeze on integrity and maintenance activities across the board, with pressure heaped on turnaround crews to do more for less with a diminishing pool of available talent.
In this infographic, we take three years of statistics from the shutdown and turnarounds space to track how fortunes and attitudes have changed in the upstream and downstream sectors. With a greater burden on turnaround experts than ever, have things got better or worse in the last year?
Oil & Gas IQ have surveyed a number relevant individuals within the industry and put together three years of statistics from the shutdowns and turnarounds space. The results demonstrate that attitudes are evolving in the low oil price continuum and challenges increasingly lie in maintaining efficiency during turnaround delivery and hiring the right people to complete the task in a timely manner.