Industry shows sparks as new or revived projects’ list grows

Each day, the GetSmart! bloggers receive a summary of articles published by financial and industry magazines and Web sites. We’ve noticed something very interesting over the last few months: The list of articles announcing new projects or big awards is growing.

This may only be empirical evidence. Yet, it is hard to ignore. Six months ago, this summary may have had three or four project-based items – and almost all of those were “bad” news. A project has been suspended, even canceled. A company reports substantial revenue loss. Another firm announces layoffs.

Today’s news summary is telling a different story: Nine project-type announcements, and only one is negative. (Even that one is a delayed refinery upgrade – not a project cancellation.) Numerous Intergraph customers are winning business or investing to do so:

  • Eni and INA start gas production at Annamaria A platform in Croatia”
  • Linde & Algenol: algae-to-biofuel R&D”
  • CB&I wins refinery project in Colombia”
  • Mitsubishi wins CCGT order from Spain's INITEC Energia for Uzbek plant”
  • Shaw selected to provide technology and design services for Yanchang Petroleum Group's olefins recovery unit in China”
  • Technip and SaudConsult to establish an engineering center in the Kingdom of Saudi Arabia”

And, on Tuesday, we covered Suncor Energy’s decision to resume the Firebag oil sands project’s third stage.

Group these kinds of observations with talk around what’s in store in 2010, and the industry is more optimistic that times are turning. 2010 may not be a boom year and instead be growth-flat. As the U.S. Thanksgiving holiday approaches, we can be thankful to be headed there vs. a repeat of late 2008 and early to mid-2009.