To meet the rapid growth of energy demand in South Asia, KBC (A Yokogawa Company) has awarded Profit Improvement Programs (PIP) to four oil refineries in the region.
The PIPs, which are focused on improving techno-economic aspects of refinery operations, will deliver enhanced safety, reliability and profitability outcomes to enable organic re-investment and stronger delivery on respective refinery sustainability goals.
While global oil demand is expected to peak within the next 20 years, KBC expects oil demand in the South Asia region to more than double in that timeframe to more than 10 million bpd. Consequently, the South Asia refining industry continues to attract significant investment to boost production capacity through both new projects and the optimisation of existing assets. In the last three years, KBC observes that South Asian refiners have announced investment plans in excess of US$90 billion across the sector.
Andrew Howell, CEO of KBC, said: “Our PIP projects continue to assure capital efficiency for our customers by developing the necessary operational flexibility and identifying strategic investments to maintain competitiveness and deliver on their Sustainable Development Goals.”
Following a competitive tender process, KBC was selected to identify and implement a series of on-site productivity and efficiency improvements across each of the refineries. KBC expects to deliver collective customer financial benefits of over US$150 million per annum.
Read the article online at: https://www.hydrocarbonengineering.com/refining/07032019/kbc-supports-south-asia-refiners/