Refining has entered a new performance race. Across global markets, margins have retreated significantly from post COVID highs while capital flexibility continues to tighten. The industry is being asked to do more with less: increase already slim margins, improve energy efficiency, reduce emissions and crude costs, and sustain reliability without relying on large-scale expansions.
Our Profit Improvement Program® (PIP) provides a structured framework for margin recovery, resilience, and decarbonization readiness. Rather than episodic optimization sprints, PIPs establish a steady cadence, transforming isolated efforts into continuous, performance-driven operating models built for endurance. Well executed PIPs have delivered tens of millions of dollars in annual benefits and over USD 100 million in sustained value over five years.
At the core of an effective PIP is first-principles optimization: establishing economically optimal operating targets through a non-linear, kinetic virtual refinery model before value can be sustained. This foundation enables refiners to not only distinguish true optimization from margin leakage but also address both systematically.
This article explores: