According to an industry report published by McKinsey and Co., accelerating the decarbonization of the U.S. economy to achieve net-zero targets by 2050 will require approximately $275 T of cumulative capital spending over the next 30 yr.1
The refining business needs to change dramatically over the next decade.
The increase in heavy crude production, together with the diversity of heavy crude characteristics and sources, leads to technical challenges in accurately predicting production and refining process performance.
Several improvements are on the horizon, which will add powerful optimization capabilities into the process modeler’s simulation work space in areas like heat integration, column optimization and economics.
The cross-discipline integration of modeling and analysis tools can help select the best design options and ensure the safe and profitable operation of process plants.
This approach to modeling and economics cuts through the complexity of project capital investment