SOURCE: Industrial Info Resources

September 30, 2009 07:01 ET

Petroleum Refining Industry Capex Perched for Rebound in 2010, a "Navigating the Currents of Change" Webcast on Industrialinfo.com

SUGAR LAND, TX--(Marketwire - September 30, 2009) - Researched by Industrial Info Resources (Sugar Land, Texas) -- The Petroleum Refining Industry, like other heavy industrial industries, is currently coping with a slump in product demand, but the outlook is optimistic as 2010 emerges on the horizon. The industry is poised for an uptick in spending next year, as several large multi-billion dollar projects are scheduled to resume construction activity. According to Chris Paschall, Industrial Info's VP Refining, "These projects were delayed in 2008 or this year to conserve cash, but I think spending overall will increase around the mid to latter part of 2010. We are already seeing an increase in proposals at companies providing licensing for technology." All in all there's a renewed optimism for capex projects over the next two to three years.

Will maintenance spending improve in 2010? For an answer to this question and other trends in the Petroleum Refining Industry, click here to join Mr. Paschall on this week's video webcast edition of "Navigating the Currents of Change."

Industrial Info Resources (IIR) is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy related markets. For more than 26 years, Industrial Info has provided plant and project opportunity databases, market forecasts, high resolution maps, and daily industry news. For more information, send inquiries to refininggroup@industrialinfo.com or visit us online at www.industrialinfo.com.

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