July 2013

Special Report: Refinery of the Future

Enhance refinery profitability with modeling innovations

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.

Beck, R., Ajikutira, D., Herrmann, L., Ye, V., Aspen Technology Inc.

Refining operations continue to be a crucial but challenging element in the petroleum value chain; critical to the ability to bring hydrocarbons to market, but, in many instances, still a challenge in terms of attaining targeted levels of profitability. Fortunately, there have been rapid innovations and advances in several of the key enabling modeling technologies that contribute to the ability to react to technical and business changes. There are more innovations on the horizon. Refinery assets and operations are in the midst of an evolution, both in terms of the worldwide distribution and age of refining capacity, and the demand for flexibility in crude selection and product portfolios. So

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