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New market data highlights growth of stainless steel
Pump Industry Analyst
NEW MARKET
April 1997
USA with annual shipments of approximately 5.1 million
an increase of 1 million bid on current output.
cal literature, patent information and business, economic
tons.
The target BP set last year to
and environmental news.
DATA
improve underlying annual in-
HIGHLIGHTS
come by US$1.5 billion a year
US FIRST QUARTER
GROWTH
by the end of the decade could be delivered at least a year
STATISTICS
STAINLESS
OF STEEL
WESTERN
According to Brian Leslie, Director of Stainless Steel M a r k e t Development for the Specialty Steel Industry of North America (SSINA), there is broader public acceptance ~ff stainless steel in a wide range of products. Speaking at tile American Metal Market's annual stainless steel conference m Pittsburgh, Leslie predicted that stainless steel consumption growth in 1997 will be moderately strong at about 6 per
L)
©
M <
cent. He stated that the ,,rowing areas of construction, food, and transportation continue to be key markets for stainless steel sheet and strip, plate, and bar. He noted that another growth year is expected for the industry' s major product line, sheet and strip. This product line is driven more by consumer goods and is expected to grow in the range of 6 to 7 per cent in 1997. Stainless steel bar and plate, both more responsive to the capital goods market, saw little or no growth in 1996, but Leslie slated that the trend for 1997 indicates an improving picture. US STEEL GROUPS END MERGER
TALKS
US Steel and Inland Steel have confirmed that they had been conducting merger talks which have now been called off. US Steel is a division of USX Group and is the largest sleel producer in the USA with annual shipments of 11.4 million tons. Inland Steel is Ihe fifth largest steel producer in the
ll
ATLAS
ahead of schedule.
SEPARATES
BP is confident it can grow Western Atlas Inc is to separate into two independent public corporations. The US$1.6 billion revenue
production by 5 per cent per annum over the next decade
oilfield services business will
reserves.
continue to operate under the
As well as maintaining output from its two established provinces, the North Sea and Alaska, at approximately their current levels of 0.5 million b/d each, ihe company ex-
Western Atlas Inc identity and will continue to be based in Houston, Texas. The new industrial automation company, which has yet to be named, will consist of Western Atlas's
and replace its higher output with annual additions of new
current automated data collec-
pects to boost daily production to 250 000 b/d in both the
tion, mobile' computing and
Gulf of Mexico and South
manufacturing systems activi-
America. BP's capital spend during 1997 is expected to total US$5.6 billion, with some US$1.5 billion going to projects due to generate income before 2000 and more than US$0.5 billion going to activities that will pay back later. Most of the spend will be on exploration and production, but significant investment is also planned in marketing and chemicals in growth regions of the world, most notably Asia.
ties and will be headquartered in Beverly Hills. ESSO AFFILIATES EXPAND IN CHINA Essn
(Tianjin)
Company
Limited and Esso (Zhejiang) Company
Limited
are to
build their first two lube oil blending plants (LOBPs) in China. Tile two plants, each with a capacity i)1 250 000 barrels per year, will be located in Tianjin and Ningbo. The two plants are part ofEsso's ovdrall strategy to expand its participation in China's rapidly growing lubricants market and to better serve its customers.
SIGNIFICANT GROWTH
IN
PRODUCTION According to British Petroleum plc chief executive J o h n Browne, B P could be producing 2.5 million barrels of oil and gas per day (h/d) within the next decade,
GAZPROM LAUNCHES RESTRUCTURING PLAN Gazprom, the Russian natu-
API ENCOMPASS LAUNCHES
TM
WEB SITE
API EnCompass
TM, a divi-
sion of the American Petroleum Institute, has a new
BP SIGNALS
According to figures from the American Petroleum Institute, US imports of crude oil and petroleum products rose 8 per cent to 9.6 billion barrels per day (b/d) in the first quarter of 1997 compared with the corresponding quarter a year ago. Petroleum products supplied to the domestic market averaged 18.3 million b/d for the quarter, a 0.3 per cent increase on 1996's first quarter. Domestic crude oil production for the quarter averaged 6.4 million b/d, down 1.4 per cent from a year ago while natural gas liquids production was up 6.5 per cent to an average of 1.8 million b/d. Refinery utilization for the quarter was 90 per cent. Stocks of crude oil and petroleum products at the end of March 1997 were 925.7 million barrels, up from 892.8 barrels at the end of March a year ago.
World Wide Web site. The site's address is http://www.apiencompass. org and is devoted to disseminating general information about the products and services provided internationally by API EnCompass rM, whose subscriber-based services offer on-line databases and print publications covering techni-
ral gas group, has launched a
widescale
restructuring
programme. A plan to divide the company into four divisions - production, finance, marketing and social services - and to sell off the unprofitable social service operation has been devised. CHEVRON DISCOVERY
IN OFF
ANGOLA Chevron has announced a significant discovery of crude oil in waters more
NEW MARKET
April 1997
USA with annual shipments of approximately 5.1 million
an increase of 1 million bid on current output.
cal literature, patent information and business, economic
tons.
The target BP set last year to
and environmental news.
DATA
improve underlying annual in-
HIGHLIGHTS
come by US$1.5 billion a year
US FIRST QUARTER
GROWTH
by the end of the decade could be delivered at least a year
STATISTICS
STAINLESS
OF STEEL
WESTERN
According to Brian Leslie, Director of Stainless Steel M a r k e t Development for the Specialty Steel Industry of North America (SSINA), there is broader public acceptance ~ff stainless steel in a wide range of products. Speaking at tile American Metal Market's annual stainless steel conference m Pittsburgh, Leslie predicted that stainless steel consumption growth in 1997 will be moderately strong at about 6 per
L)
©
M <
cent. He stated that the ,,rowing areas of construction, food, and transportation continue to be key markets for stainless steel sheet and strip, plate, and bar. He noted that another growth year is expected for the industry' s major product line, sheet and strip. This product line is driven more by consumer goods and is expected to grow in the range of 6 to 7 per cent in 1997. Stainless steel bar and plate, both more responsive to the capital goods market, saw little or no growth in 1996, but Leslie slated that the trend for 1997 indicates an improving picture. US STEEL GROUPS END MERGER
TALKS
US Steel and Inland Steel have confirmed that they had been conducting merger talks which have now been called off. US Steel is a division of USX Group and is the largest sleel producer in the USA with annual shipments of 11.4 million tons. Inland Steel is Ihe fifth largest steel producer in the
ll
ATLAS
ahead of schedule.
SEPARATES
BP is confident it can grow Western Atlas Inc is to separate into two independent public corporations. The US$1.6 billion revenue
production by 5 per cent per annum over the next decade
oilfield services business will
reserves.
continue to operate under the
As well as maintaining output from its two established provinces, the North Sea and Alaska, at approximately their current levels of 0.5 million b/d each, ihe company ex-
Western Atlas Inc identity and will continue to be based in Houston, Texas. The new industrial automation company, which has yet to be named, will consist of Western Atlas's
and replace its higher output with annual additions of new
current automated data collec-
pects to boost daily production to 250 000 b/d in both the
tion, mobile' computing and
Gulf of Mexico and South
manufacturing systems activi-
America. BP's capital spend during 1997 is expected to total US$5.6 billion, with some US$1.5 billion going to projects due to generate income before 2000 and more than US$0.5 billion going to activities that will pay back later. Most of the spend will be on exploration and production, but significant investment is also planned in marketing and chemicals in growth regions of the world, most notably Asia.
ties and will be headquartered in Beverly Hills. ESSO AFFILIATES EXPAND IN CHINA Essn
(Tianjin)
Company
Limited and Esso (Zhejiang) Company
Limited
are to
build their first two lube oil blending plants (LOBPs) in China. Tile two plants, each with a capacity i)1 250 000 barrels per year, will be located in Tianjin and Ningbo. The two plants are part ofEsso's ovdrall strategy to expand its participation in China's rapidly growing lubricants market and to better serve its customers.
SIGNIFICANT GROWTH
IN
PRODUCTION According to British Petroleum plc chief executive J o h n Browne, B P could be producing 2.5 million barrels of oil and gas per day (h/d) within the next decade,
GAZPROM LAUNCHES RESTRUCTURING PLAN Gazprom, the Russian natu-
API ENCOMPASS LAUNCHES
TM
WEB SITE
API EnCompass
TM, a divi-
sion of the American Petroleum Institute, has a new
BP SIGNALS
According to figures from the American Petroleum Institute, US imports of crude oil and petroleum products rose 8 per cent to 9.6 billion barrels per day (b/d) in the first quarter of 1997 compared with the corresponding quarter a year ago. Petroleum products supplied to the domestic market averaged 18.3 million b/d for the quarter, a 0.3 per cent increase on 1996's first quarter. Domestic crude oil production for the quarter averaged 6.4 million b/d, down 1.4 per cent from a year ago while natural gas liquids production was up 6.5 per cent to an average of 1.8 million b/d. Refinery utilization for the quarter was 90 per cent. Stocks of crude oil and petroleum products at the end of March 1997 were 925.7 million barrels, up from 892.8 barrels at the end of March a year ago.
World Wide Web site. The site's address is http://www.apiencompass. org and is devoted to disseminating general information about the products and services provided internationally by API EnCompass rM, whose subscriber-based services offer on-line databases and print publications covering techni-
ral gas group, has launched a
widescale
restructuring
programme. A plan to divide the company into four divisions - production, finance, marketing and social services - and to sell off the unprofitable social service operation has been devised. CHEVRON DISCOVERY
IN OFF
ANGOLA Chevron has announced a significant discovery of crude oil in waters more