[ Editorial ]
Volume 36 , September 2024
Stainless Steel World is the global magazine for corrosion resistant alloy users , suppliers and fabricators . www . stainless-steel-world . net
Group Director - KCI Media Group Director - KCI Publishing B . V Elisa Hannan e . hannan @ kci-world . com Tel : + 31 575 585 291
Editor-in-Chief Joanne McIntyre j . mcintyre @ kci-world . com Tel : + 31 575 585294
Editorial Team ( print & online ) press . ssw @ kci-world . com Iryna Mukha i . mukha @ kci-world . com Gert Wijbrans g . wijbrans @ kci-world . com Shopia Ketheeswararajah s . ketheeswararajah @ kci-world . com Melonie Dodaro m . dodaro @ kci-world . com
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Rising demand
[ Editorial ]
This month the Stainless Steel World team focused on the oil and gas industry , a sector which is enjoying a profitable time with increased demand across the globe . In August , Exxon Mobil , Shell , BP and ConocoPhillips all surpassed the expectations of analysts ’ for second-quarter earnings . A large proportion of the profit came from oil and gas production , and the companies have made no secret of the fact that they are planning to increase spending on new exploration projects in the future . This may seem at odds with ongoing pressure to decarbonise our society , but the fact remains that the demand for oil continues to rise . Last year was a record-breaker in that respect , with Statista reporting that the global demand for crude oil ( including biofuels ) in 2023 amounted to 102.21 million barrels per day . Forecasts suggest that this could increase to more than 104 million barrels per day , with motor fuels make up majority of oil demand . This is all good news for stainless steel manufacturers and distributors who supply to the oil and gas industry . It ’ s an industry that continues to evolve , and stainless steel continues to optimise industrial operations by ensuring long-lasting and reliable performance . From downstream to midstream to upstream , stainless plays a pivotal role in the safe and efficient extraction , processing and distribution of hydrocarbons . This month , we are delighted to welcome Nippon Steel to the cover of the magazine once more . It , too , has continued to evolve over the years .“ We have navigated various crises driven by changes in the external environment by proactively anticipating change and reforming ourselves ,” stated Mr Hiroshi Matsuo . Still on the topic of oil and gas , I was spurred to write an update on the Prelude Floating LNG vessel on the fifth anniversary of its first gas offload . This incredible feat of engineering – it is still the largest marine structure ever built – is extracting vast quantities of LNG off the coast of Australia . Within the article is a link to my interview with SBM and Shell during the vessel ’ s construction , which included some groundbreaking duplex and stainless forgings . Something special this month is our feature on the unique Spitfire Memorial Project in the UK . The Spitfire became an emblem of victory during and after the Second World War , and this project honours all those involved in the design , production and flying of this iconic airplane – all in stainless steel . I hope you enjoy the magazine , and as always , your feedback is welcome .
Best wishes , Joanne McIntyre Editor-in-Chief of Stainless Steel World j . mcintyre @ kci-world . com
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