MRC Global provides a broad range of valves that are available in a wide variety of materials from today’s leading valve manufacturers to fully meet even the most complex and unique requirements.
The MRC Global Projects team adds value through our project execution expertise, global sourcing capabilities, comprehensive products and commercial strength to deliver your project’s unique solution
MRC Global is the chemical industry's source for a complete range of PVF products in carbon steel, stainless steel and special alloys.
Andrew R. Lane
President & CEO
Andrew R. Lane has served as our president and chief executive officer since September 2008. He has also served as a director of MRC Global Inc. since September 2008.
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MRC Global's market-focused magazine, InSight, is published bi-annually for our customers and features product lead times, data, market sector information and price trends.
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Activity levels have increased in general across the EMEA region. The uptick is primarily driven by larger shutdowns and turnarounds in Europe and capital projects in the Middle East and Caspian regions. Although demand has increased, there has been no significant impact on lead times. There is inflation in the market, particularly for products imported from China.
Activity levels have increased in general across the EMEA region.
In Europe, Engineering, Procurement and Construction (EPC) companies and Original Equipment Manufacturers (OEM) are busy working on a strong funnel of MRO projects, which were originally placed on hold due to oil and gas market conditions. These projects are now positively passing the final investment decision and are moving forward at a brisk pace. While France continues to battle tough economic conditions caused by extremely low project activity, the overall European downstream sector has picked up as a result of significant shutdowns and turnarounds. MRC Global has increased inventory of commodity valves to cope with increased demand.
The upstream sector in the UK and offshore North Sea is another bright spot in the overall recovery. Recently released figures, indicate oil and gas production from Scottish waters has fallen by 1.7%, after two consecutive years of growth. However, the value of the oil and gas production grew by 18.2%, to approximately £20B, thanks to rising oil prices. Further confidence in the upstream offshore sector is illustrated by the approval of six major capital projects in 2018, two more than the total number of approved projects in 2016 and 2017 combined. In the Norwegian Continental Shelf, Phase 2 of the Castberg and Sverdrup mega projects are in full execution.
Investment in the Caspian region continues to be robust as operators of the Tengiz, Kashagan and Karachaganak fields continue to expand oil production to meet the Kazakhstan government’s expectations. Supply of PVF to this region can be challenging, and is impacted by high import duties. Currency fluctuation also drives inflation.
In the Middle East region, activity continues to be strong and there is a potential for approximately 200 new oil and gas projects to be approved by the end of 2018 with a collective value of $127B. In 2018, 45 offshore projects have been approved, which is nearly double the activity levels of 2017. High activity levels continue onshore as well, with approximately $34B in projects expected to be approved by year-end. As the influence of OPEC over the global oil price wanes, the levels of production in the Middle East region remain buoyant and the supply chain continues to be stable and secure.
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