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Hydrocarbon Loss costs individual refineries millions of dollars per year and occurs daily in refinery operations when improper systems, processes, and behaviours are in place. Best-in-class targets are under 0.25% loss while under 0.5% loss is considered an achievable target for the average refinery. If your refinery is performing worse than these targets or, worse,… read more →
In refineries, an Operating Expense hides in plain sight – Hydrocarbon Loss. Hydrocarbon Loss occurs daily in refinery operations because improper systems, processes, and behaviours are in place. This is a preventable loss that often costs individual refineries millions of dollars per year. Best-in-class targets are under 0.25% loss, while under 0.5% loss is considered… read more →
While its existence is undesirable, gasoline giveaway is often regarded as a necessary evil. Most refineries have some sort of system in place to record octane and volatility giveaway and track their own performance against industry metrics. However, many refineries fall short of doing everything they can to actively track giveaway, set aggressive targets to… read more →
There is a famous quote, “insanity is doing the same thing over and over again but expecting different results.” By this definition, it is senseless for a refinery to all allow major equipment to fail the same way multiple times. These types of failures can lead to expensive production stoppages and result in unplanned overtime,… read more →
For a long time, the realities of the Oil & Gas industry could be summed up in one word – unpredictability. Recent events in the oil market have once again proven how volatile the industry is. In this environment, every stream of financial benefit into the bottom line gives oil & gas companies an… read more →
Two common expense reduction strategies that companies in any industry often pursue are abandoning long-term projects and cutting corners, but both are a mistake. In refineries, one of these mistakes is often made by reducing one of the largest operating expenses – preventative maintenance costs. Refinery maintenance costs are broken-down into preventative and reactive. Preventative… read more →
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