Next Meeting: Monday, October 19th Dinner Meeting
in a Feedstock Driven Market
Speaker: Marisabel Dolan, Senior Consultant, Energy & Chemicals Advisory, Nexant Inc.
Details: Monday, October 19th, 5:30 - 7:30 pm
(5:30-6:30 pm: Registration, Networking & Buffet Dinner; 6:30-7:30 pm: Program) at the Pfizer Building, 219 East 42nd Street, Manhattan. Map
Marisabel is currently responsible for the Latin American initiatives for Nexant. With this role, she has directly managed several of Nexant’s major studies in Latin America involving market research, technology assessment, and strategic plans for a series of petrochemical products. Marisabel has also participated as a guest speaker at various South/Central America & Caribbean Resin Trade, Applications & Recycling (SCAPET) conferences in South America. A Honduran native, Marisabel received a B.S. and M.S. in Chemical Engineering from Manhattan College
Abstract: For the past five years, up to mid-2014, (Brent) crude oil prices averaged about $103 per barrel. With low natural gas and NGL (natural gas liquids) prices, companies across the world regarded this high value of crude as the new norm, utilizing it to evaluate investment decisions for new plants, expansions, and debottlenecks. However, oil prices have now dropped to an average (Brent) $58 per barrel during the first half of 2015. This drastic drop in crude oil prices has been the result of a slowdown in China’s demand, production increases in the Middle East and the U.S., as well as a rise in Canada’s production (from oil sands). A poor economy in Western Europe has also contributed to the decline of oil prices.
The fall in oil prices has dramatically altered the investment landscape. This has resulted in the cancellation or delay of projects in Russia and the Middle East, a decrease in ethane exports from the U.S., and a reduction in the availability of investment funds by oil producing countries, such as Venezuela. Additionally, lower oil prices have negatively impacted many economies and crude oil producers, such as Saudi Arabia and Russia, and have shifted focus to marginal production. Cost reduction efforts by U.S. shale producers have reduced production costs to about $50 per barrel.
Major regions are focusing on several drivers to enhance a competitive feedstock position in a low crude oil price scenario. The U.S. is focusing on feedstock sourcing and cost advantages with U.S. NGL-based producers remaining the most competitive for olefins production. On the other hand, China is focusing on feedstock diversification such as coal-to-olefins (CTO) and methanol-to-olefins (MTO). Coalfield MTO in China remained highly competitive after the drop in oil prices, although MTO plants based on purchased methanol face a more challenging situation. Lastly, the Middle East is focusing on the integration and configuration of overall complexes with refineries, the production of higher value derivatives, and the use of heavier feedstocks, such as LPG and naphtha.
Costs: (for( Networking, Buffet, and Program) • Members of AIChE, Metro NY Section: $25; • Non-Members / Guests: $35; • Students (Undergraduates): Free for first 20 undergrads, who register by 10/9; $5 afterwards. You must register; • Graduate Students: $10.
Registration: ALL attendees MUST pre-register by Thursday, October 15th, 5 pm ET, although we expect to be sold out before that date. Due to room size, the number of attendees may be limited, so a first come, first serve policy will be in effect. Reserve Now. Undergraduate Student RSVP.
Questions: Contact David Deutsch at email@example.com or call (917) 684-1659. Questions: Contact David Deutsch at firstname.lastname@example.org or call (917) 684-1659.
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If you are not a Member of this Section, you can apply the $10 additional amount paid as a Guest to a full Membership for 2015. Please notify Treasurer Joel Kirman that you wish to be a Member. Register Now.
Save the Dates: Fall 2015 Meeting Dates
• Monday, October 19th Dinner Meeting
Speaker: Marisabel Dolan, Senior Consultant, Energy & Chemicals Advisory, Nexant Inc. Bio.
Topic: Staying Competitive in a Feedstock Driven Market. Details.
When: Monday, Oct. 19th, 5:30 - 7:30 pm (5:30-6:30 pm: Registration, Networking & Buffet Dinner; 6:30-7:30 pm: Program)
Where: Pfizer Building, 219 East 42nd Street, Manhattan. Map
• Thursday, November 19th Career Day at the Chem Show
(A Special Event for Juniors and Seniors attending the Chem Show)
You must also register for the Chem Show to attend this event. Exhibit Hours: 10 am - 5 pm for Tuesday (11/17) and Wednesday (11/18); and 10 am - 3 pm for Thursday (11/19).
Keynote Speaker: Jessica Stinson, Senior Consultant, at Century Associates Executive Search. Bio
Panelists: to be determined (Young Professionals in various sectors employing chemical engineers)
When: Thursday, Nov. 19th, 1- 3:30 pm (1 pm: Keynote Address; 1:45 pm Panel Discussion; 2:45 pm Q&A; 3 pm Refreshments).
Where: Javits Center, 655 W 34th Street, Manhattan.