KBC (A Yokogawa Company) has announced that it has been awarded Profit Improvement Programmes (PIP) for three oil refineries in the Gulf Cooperation Council (GCC) region
The PIPs, which focus on improving techno-economic aspects of refinery operations, will deliver improved safety, reliability, and profitability outcomes that enhance triple bottom line performance.
The World Bank is planning to soften global economic growth to 2.9 per cent in 2019; a 10-year low. This is based on forecast weakening of international trade and manufacturing activity, elevated trade tensions, and substantial (experienced) financial market pressures in some large emerging markets.
Middle Eastern refineries are therefore embarking on value chain optimisation efforts to increase asset productivity and the associated supply chain efficiency, thereby boosting resilience to market volatility.
Through the PIP, KBC will identify and implement a series of on-site productivity and efficiency improvements across each refinery focusing on capacity utilisation, molecular management, yield improvement, corrosion and fouling mitigation, and energy efficiency.
Andrew Howell, CEO of KBC, said, “Our observation is that global forecasts for refined products are being revised down, especially gasoil/diesel, gasoline and fuel oil cracks.”
“KBC’s PIP campaigns are vital for assuring capital efficiency by developing the necessary operational flexibility and identifying strategic investments so that return on capital employed targets can be easily and routinely exceeded,” he added.
