CC-00-161 BUILDING A WORLD-CLASS LP MODEL

Description:

Deregulation of the refining industry in Japan has put new competitive pressures on the refiners to survive in the excess capacity business environment. Among many initiatives to improve their competitiveness, Koa Oil Company, Ltd. recognized the importance of the refinery LP model to provide accurate crude evaluations and to optimize the utilization of their assets. Koa worked with KBC Process Technology, Ltd. to upgrade their LP models to incorporate state-of-the-art modeling techniques and data generation with calibrated non-linear simulation models and provide LP data maintenance tools. This paper discusses the LP project execution, the economic benefits realized and the factors that made the project a success.