A new day for you, a new day for us

摘要

Dear Reader, The last thing you need right now is another dreary recitation of industry statistics that show how hard hit the global oil and gas industry has been in the last 18 months. So, I will spare you the gory details. The fact is that, over the past two decades, new technologies have produced gluts of both oil and natural gas. With global oil production reaching nearly 94 MMbpd in 2016, the term "peak oil" has a whole new meaning. For the downstream industry, this has led to abundant and relatively inexpensive feedstocks for the refining, petrochemical, and gas processing/LNG industries.