SOURCE: Industrial Info Resources

Industrial Info Resources

March 07, 2012 06:35 ET

U.S. Refinery Project Spending Seen Rising in 2012, a "Navigating the Currents of Change" Webcast on

SUGAR LAND, TX--(Marketwire - Mar 7, 2012) - Written by John Egan for Industrial Info Resources (Sugar Land, Texas) -- Project spending in the U.S. Petroleum Refining Industry will increase about 4% this year, to about $18.34 billion, up from last year's outlays of $17.56 billion and 2010's spending level of $16.4 billion, according to Chris Paschall, Industrial Info's vice president of research for the Petroleum Refining Industry. In an exclusive "Navigating the Currents of Change" webcast, Paschall predicted refiner capital project spending will increase 1.6%, to $12.66 billion, in 2012. U.S. refiners have scheduled about $5.68 billion of maintenance spending this year, a 5.8% increase over last year's maintenance spending levels, he added.

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