From Hydrocarbon Processing: Global HPI spending likely to jump 15% in 2014

Newfound optimism stems from rising availability of gas supplies in several nations, rich shale reserves in North America, and a new expansion wave for petrochemicals.

HOUSTON -- The outlook for the global hydrocarbon processing industry (HPI) is upbeat. Global spending is expected to exceed $279 billion in 2014, and spending in the US alone is forecast to reach nearly $78 billion.

The publisher and editors of Hydrocarbon Processing released this information at the magazine’s 40th annual HPI Forecast and Breakfast, held Friday at the River Oaks Country Club in Houston. 

The $279 billion in overall spending is up nearly 15% from $244 billion in 2013.

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