Petroleum Coke (Petcoke) Market continues to grow as ExxonMobil Catalysts and Licensing LLC enters into a licensing agreement with Axens to provide FLEXICOKING Technology and Integrated Resid conversion solutions
Petroleum coke, also abbreviated as petcoke or coke, is a by-product of crude oil production and is among one category of the group of fossil fuels called combustible substances are known as combustibles. Like other fossil fuels, petroleum coke is subject to a range of environmental concerns including climate change, air pollution, acid rain, and global warming. Many oil & gas corporations are focused on the expansion of their refinery capacity, for which significant investment is being made. With rising industrialization and urbanization, the demand for oil & gas has increased globally, making refinery expansion an imperative process. Recently, in February 2021, Indian Oil, an Indian government-owned oil and gas corporation, announced to invest US$ 4.5 billion in Panipat, India refinery. Thus, such factors can augment growth of the petroleum coke (petcoke) market. The demand for petroleum coke is based on its ability to substitute oil and gasoline. Many automobile manu...