Refinery projects totaling hundreds of billions of dollars are underway in countries which were formerly just oil producers, according to a report by McIlvaine Company.
McIlvaine says there are a number of projects in South America, including a $13 billion project in Ecuador, as well as in the Middle East, where Kuwait has two projects under way for a total of $30 billion. Nigeria and South Africa are also investing heavily in refineries.
These projects typically involve a coordinated sales effort, says McIlvaine. The owner is likely to be in one country, while the engineering company is in another country. The EPC contractor can be in a third country, and the plant location in a fourth country. The sale of common components, such as pumps and valves, may also entail pursuing sub-system contractors in multiple countries.
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