Expert Insights
Energy Outlook: Predictions Shaping the Downstream Industry in 2024
Published 25th March 2024

As we come to the close of Q1 of 2024, the downstream energy industry finds itself at the nexus of transformation, propelled by a mosaic of innovations, challenges, and aspirations. Reflecting on the insights gleaned from industry leaders, it becomes evident that the year ahead holds immense promise and complexity. From the imperative of decarbonization to the transformative potential of AI and catalytic advancements, the industry stands poised to embrace a future defined by sustainability and resilience.
In this article, we dissect the top predictions for the downstream energy industry in 2024, distilled from conversations with key figures within our network; Eric Koeing (Schneider Electric), Louis Burns (Exxon Mobil Corporation), and Tom Ventham (Unicat). As we navigate the currents of change, these predictions serve as beacons illuminating the path forward in a landscape defined by adaptability and foresight.

Decarbonizing Supply
The Oil & Gas industry has taken commitments on its NetZero Roadmap. But the industry gets under pressure to demonstrate they walk the talk, while at same time they want to generate money from their legacy business.
Many start to realize that Energy Efficiency, Electrification and plugging Methane Leaks represent very easy solutions to decarbonize their operations. The solutions may range from simple, low tech ones to advanced optimization algorithms, but their common point is that they are available, off-the-shelf and often pay for themselves.
We see this Oil & Gas operations decarbonization materialize in 2024, with eg refiners deploying heating electrification, upstream operators ensuring methane leak detection and players across the board integrating GHG accounting into their Unified Operations Center.
Eric Koenig – Schneider Electric
How can process technology and catalysts help enable you drive the energy transition in transportation?
Energy – in all its forms – enables growth and prosperity. As economies grow, as technology advances, as consumers become more environmentally aware, and as policies adapt, global energy demand will evolve to meet changing needs.

Today, transportation accounts for about 25 percent of CO2 emissions. The vital task of reducing greenhouse gas emissions across the transportation sector requires a portfolio of solutions.
By 2050, demand for biofuels is expected to quadruple. Efficient, economic production of transportation fuels from renewable/bio feedstocks is an important step in the energy transition.
ExxonMobil’s vision is to lead industry in innovations that advance modern living and a net-zero future. To this end, ExxonMobil offers a portfolio of advantaged technologies that convert renewable/bio feeds into lower emission transportation fuels to support the efforts of refiners and project developers who want to help commuters, travelers, and shippers achieve the energy transition goals.
Louis Burns- Exxon Mobil Corporation

Catalyst advances that present immediate solutions for refiners facing new challenges as part of the transition to sustainability.
As the industry moves rapidly towards a fundamental shift in products required by the market and feedstocks and methodologies permitted to produce those end-use products, it is clear catalysts will play a significant role.
In previous revolutions, catalysts made the difference between dumping around 50% of a typical barrel of medium-sweet crude by minimising or eliminating wastes through ingenious applications using heterogeneous catalysts such as Fluid Catalytic Cracking. It is from these past experiences that it can be seen how cutting-edge catalysts will once again help shape the refining industry’s future. This will require close collaboration between catalyst suppliers, process licensors, and refiners or manufacturers to hone in on critical requirements and implement optimum solutions.
In transitioning to sustainability the role of catalysts could be claimed to be even more important to allow competing novel technologies to achieve viability versus traditional methods that it is hoped they will replace. An example is green ammonia cracking, where sustainably produced ammonia is transported to hubs of high activity and population density to be cracked into constituent components of N2 and H2, providing sustainable sources of hydrogen for future fuels production, chemicals manufacturing, or heat and energy requirements for heavy industry and local communities. As an endothermic process catalysed by known active metals, ammonia dissociation requires energy input as well as a need to raise temperatures of reactant gases to achieve a favourable equilibrium position for conversion to nitrogen and hydrogen.
When it comes to heat demands, this presents challenges to the industry where clean fuels should be used and feasibility must be retained when comparing to existing methods with abundant fuel sources. Whether heat input is provided by electrical heating; bio-gas; or a slip stream of reactant or product; efficient use of that heat will be critical in maintaining viability of the process. In this way the challenge becomes that of chemical engineering rather than purely chemistry, to optimise a catalyst carrier in terms of heat & mass transfer; fluid dynamics; and thermodynamics to achieve optimum outcomes.
Innovative catalyst suppliers have been going beyond traditional methods using novel catalyst manufacturing techniques to enhance the potential of future sustainable processes. It is this aspect, and others that catalyst suppliers are also working on, that requires collaboration with stakeholders mentioned to ensure any final package is sized, scoped, and quantified through the full life-cycle to ensure important desired outcomes become fully realised.
Tom Ventham – Unicat
In conclusion, the downstream energy industry finds itself at the centre of transformation, propelled by a mosaic of innovations, challenges, and aspirations. From the imperative of decarbonization to the transformative potential of AI and catalytic advancements, the industry stands poised to embrace a future defined by sustainability and resilience. Reflecting on the insights gleaned from industry leaders, outlined in this article, it becomes evident that the year ahead holds immense promise and complexity.
As we navigate through 2024, these predictions serve as a compass, guiding industry stakeholders towards a more sustainable and efficient energy future.

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