Shape the refinery of the future through integration--Part 1

• Published in: Hydrocarbon Processing pp. 41 - 44
• Main Author: Maiti, S.N
• Format: Magazine Article Trade Publication Article
• Language: English
• Published: Houston Gulf Publishing Co 01-09-2020
• Subjects: Biofuels; Carbon; Clean energy; Competition; Compressed gas; Crude oil; Design and construction; Developing countries; Diesel engines; Economic development; Economic growth; Economics; Efficiency; Electric vehicles; Energy resources; Energy sources; Environmental aspects; Environmental regulations; Gasoline; Impact analysis; Investments; LDCs; Linear programming; Liquefied natural gas; Natural gas; Petrochemicals; Petroleum industry; Petroleum refineries; Petroleum refining; Population growth; Production capacity; Production management; Profit margins; Profitability; Propylene; Raw materials; Refineries; Renewable energy; Substitutes; Sustainability; Sustainable development; Technology application; Trends; United States
• ISSN: 0018-8190

The aim of the UN Sustainable Development Goal 7 of 2019 is to ensure universal access to reliable, affordable and clean modern energy by 2030, with increased sustainability through the increased share of renewable energy in the global energy mix.1 A similar objective is outlined in the EU Energy Roadmap 2050, which aims to create a competitive low-carbon energy system.2 Key factors that impact oil demand include economic growth, population growth, substitution by other energy sources and oil price. The demand growth of traditional transportation (gasoline, diesel, etc.) is declining due to several factors, including: * Higher-efficiency vehicle engines * Fuel substitution, such as liquified natural gas (LNG), compressed natural gas (CNG), hydrogen (H2) and biofuels * The growth of electric vehicles * Strict environmental regulations * Circularity of economy. [...]the market demand for petrochemicals, such as ethylene, propylene and aromatics, continues to rise due to key driving factors that include global population growth and economic upliftment in developing countries like India and China. Many factors critically impact the investment: plant location, available feedstocks, end product mix, crude oil pricing, environmental issues (local, national and global) and licensed processing technologies, among others.