KBC to Boost Triple Bottom Line Performance of Middle East Oil Refineries

Jul 08, 2019  

Three oil refineries to benefit from enhanced resilience from KBC’s Profit Improvement Program® amid growing risk of oil demand under-performance

To combat imminent global economic headwinds, KBC (A Yokogawa Company) announces it has been awarded the work for a Profit Improvement Program for three oil refineries in the Gulf Cooperation Council (GCC) region. The Profit Improvement Program methodology, which focuses 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 projects global economic growth to soften in 2019 to 2.9 percent; a 10-year low. This is based on forecast weakening of international trade and manufacturing activity, elevated trade tensions, and substantial financial market pressures (being experienced) in some large emerging markets. Therefore, Middle Eastern refineries are embarking on value chain optimization efforts to increase asset productivity and associated supply chain efficiency, thereby boosting resilience to market volatility.

Via the Profit Improvement Program, KBC will identify and implement a series of on-site productivity and efficiency improvements across each of the refineries focusing on capacity utilization, molecular management, yield improvement, corrosion and fouling mitigation and energy efficiency.

"Our observation is that global forecasts for refined products are being revised down, especially gasoil / diesel, gasoline and fuel oil cracks," explains Andrew Howell, CEO of KBC. "The Profit Improvement Program 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."