October 2003

Process Economics/Refining

New methodology enhances planning for refined products

A unique analytical tool collectively applies value information from various end-product and intermediate streams and identifies the best profit-making operation

Anxue, L., PetroChina Daquing Refining & Chemical Co.; Hui, C., Wenkai, L., Hong Kong University of Science and Technology, Clear Water Bay

Marginal value analysis (MVA) is a unique tool. It can provide economic information for all streams within a refinery. Three values are defined that represent respectively the debottlenecking effect, production cost and product value of individual streams. Users can generate important insight to the total operation of the production facility and identify production bottlenecks, assist in decision-making, price intermediate materials, etc. Several case studies demonstrate the flexibility of MVA. View of profitability. Marginal values have been used in various economic evaluations and accounting activities for a long time. MVA provides a way to get information for debottlenecking, retrofitti

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