AM-95-12 REFINERY PROCESS OPTIMIZATION: Maturing Technology Creates New Business Opporlunilies

Description:

A perfect job in extracting profit from the value adding activities associated with refining crude oil to produce products for the market would require using the knowledge of every chemical component in every potential crude feedstock to evaluate every processing path option for all the possible product states. While there is no available technology that achieves perfection just yet, there is a body of commercially proven technology which takes us well along the way. The typical refinery opportunity for profit improvement through formal, high fidelity process optimization is in the order of 30 to 50 cents per barrel of feedstock. The capability to actually capture that opportunity has been substantially enhanced by major steps forward in modeling, optimization, systems and information technology which can now be presented in a rational business structure.