The future comprises a world of value chain optimized transportation fuels refineries, refinery-integrated petrochemical plants and crude oil to chemicals (COTC) complexes.
Value chain optimization involves the agile optimization and alignment of feedstocks, products and operations to reflect market demand and prices. The vision for future business should be one of a portfolio of assets, which are synchronized with their supply chains and surrounding business environment. The whole supply chain – not just parts of it – will continuously respond to market signals and disturbances and optimize holistically on a minute-by-minute basis. The outcome is a fast-automated operation that responds dynamically with changing plant and market conditions.
The key enabler of the evolution towards more autonomous operations is a 1st principle-based Integrated Asset Model (IAM), operationalized with real-time data to create a process digital twin. The IAM digital twin constitutes the heart beat of the asset, from which its “pulsations” drive all other applications.
Value chain optimization is one of the most important activities for refineries and petrochemical facilities to focus on to improve profitability, enhance capital efficiency and reinforce license to operate. In this webinar we’ll cover: