Oil & Petrol Industry Trends

Duration - 1:46

• View Transcript

  SSPC Bruce Toews 8-10 2997.mp4 GFX: Sherwin-Williams - Bruce Toews � Global Market Director Oil & Gas Sherwin-williams protective and marine Hi I'm Bruce Toews, global market director for oil and gas at Sherwin-Williams protective and marine. In my 33 years in the protective coatings industry I've held a variety of global sales and marketing leadership roles and I'm also a NACE level 3 certified Inspector. GFX: Increasing life of oil tank assets One trend I would like to highlight within the oil and gas space is the extension of the life cycles for coatings in tank assets. We are enabling the industry to move from 20 years to 30 years for lining service life and from five years to 20 years for external floating roof service life. This owner driven trend will save millions of dollars in inspection and lining removal and installation costs. GFX: New pipelines and storage terminals In the U.S. market, as gas and oil production continues to grow, expect that new pipeline assets and storage terminals will be built to handle the extra production load. This means that owners will need to increase refinery capacity by building new refineries, expanding existing facilities, or by shipping excess crude outside the U.S. to be refined. GFX: LNG Plant Expansions Finally, with a number of Canadian and U.S. LNG plants planning new construction projects or expansions, these new facilities will likely be built using modular construction in Asia and then shipped to North America for erection. However, stick steel and tank work will still take place in the U.S., providing a good source of revenue for fabricators and contractors. GFX: bruce.a.toews@sherwin.com I'd love to share our market expertise with you. So let's talk. Thank you. GFX: Sherwin-Williams Oil & Gas

Watch Bruce Toews, Global Market Director for Oil & Petrol at Sherwin-Williams Protective & Marine, discuss current trends in the oil and petrol industry. Bruce highlights the extension of the life cyles for coatings in tank assets from 20 years to even 30 years for lining service life, and the construction of new pipeline and storage terminals to accommodate growing oil and petrol production. Also, learn more about new construction and expansion of LNG plants as an opportunity for fabricators and contractors in North America.