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April 13, 2022

Contract activities in petrochemicals segment in North America up 300% in March 2022

By Carmen

The petrochemicals segment contracts in North America registered an increase of 300% with four contracts in March 2022, when compared with the previous month’s total of one contract, according to GlobalData’s oil and gas contracts database.

A total of four contracts were registered in the petrochemicals segment of North America during the month, when compared with the last 12-month moving average of three contracts.


In terms of the number of contracts in North America, the upstream segment contributed the most with 82 contracts in March 2022, followed by midstream and petrochemicals segments with 17 and four contracts, respectively.


Contract award activity in North America’s petrochemicals segment during March 2022

In March 2022, the US held four contracts and a 100% share of the petrochemicals oil and gas contracts in North America. It saw an increase of 400% over the previous month’s no contracts and an increase of 100% when compared with the last 12 month-average of two contracts in the US.

Based on 12-month moving average of the contracts in the petrochemicals segment of North America, the US took the top spot with two contracts, followed by Canada with one contract.

Contracts by scope of work in North America’s petrochemicals segment during March 2022

During the month, the majority of petrochemicals segment contracts awarded in the North America were in the design & engineering with three contracts, followed by procurement and construction with two and one contract, respectively.

Methodology

All publicly announced contracts are included in this analysis, which is drawn from GlobalData’s oil and gas contracts database that provides insights into awarded and expired contracts globally.

More in-depth reports and analysis on all reported contracts are available for subscribers to GlobalData’s oil and gas database.

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