Reuters Events: Recent Report Finds the US Downstream Industry Suffered 20% Productivity Losses During the Pandemic

HOUSTON, July 12, 2021 – The twin shocks of the oil price crash and the coronavirus pandemic in 2020 has led some major shifts in downstream OPEX and CAPEX planning trends, says a new report released by Reuters Events.

These shifts that have affected downstream operations and maintenance practically from day one—and the sector has generally responded well to the challenges. BP, for example, has more than 10,000 staff in China and yet was able to carry on with operations as normal despite COVID-19.

“We developed a plan, we had workarounds, and we had maintenance and still excellent reliability,” says Walter Pesenti, BP’s global manufacturing operational excellence manager, speaking at Reuters Events’ Downstream Virtual conference last year.        

The Downstream US Market Outlook, 2021 & Beyond, confirms that US Downstream industry suffered 20% CAPEX productivity losses during the pandemic.

“In the USA over 70% of Contractors have experienced project delays & disruptions in last 12 months, more than 80% of Contractors have suffered delays in obtaining domestic & international construction components, and over 75% of construction related companies have suffered project cancellations, suspensions or major delays” says the report.?

Other key themes covered in the complimentary report include –

• COVID-19 Productivity Losses in CAPEX related Projects: An exclusive case study into the cost of the pandemic on the Gulf Coast Downstream Industry, including never-seen-before data on where CAPEX productivity was lost and the cost of it.
• Project Execution Trends in 2021 & Beyond: The most in-depth insight to future project execution trends helping overcome the impact of COVID-19, including exclusive insight from Borealis, Freeport LNG, CII, Shell, Air Liquide, Chemours and Chevron.
• Maintenance & Reliability Trends in 2021 & Beyond: The most comprehensive study of the impact of COVID-19 on downstream operations and how reliability & maintenance leaders look to overcome the biggest challenges to OPEX ROI post pandemic.??

The Downstream US Market Outlook, 2021 & Beyond is being launched in the run-up to the Reuters Events: Downstream USA 2021, taking place virtually October 12 to 15 and in person October 21 and 22 2020, at the NRG Center in Houston, Texas.

For a copy of?the report?click here?and?for more information about Downstream?USA 2021?download?the event brochure or write to [email protected].??