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Business of Engineering

Evaluate the Efficiency of Projected Refinery Investments

Original air date September 16, 2021
In the past, refinery owner-operators only had one way to evaluate the worthiness of future investment opportunities: historical comparative analysis. This approach, however, never provided a full picture, nor did it inform as to the tradeoffs inherent in any investment decision. If you’re interested in a better way, tune into this webcast to learn about a methodology that furnishes refinery owners and operators with a strategic framework to objectively quantify how well an investment opportunity will perform relative to six key resources. The six resources are carbon, hydrogen, utilities, emissions, water — treated as a scarce resource — and capital. The methodology framework, known as the UOP E6, permits evaluation of efficiencies and ranking of any trade-offs that may result from certain project objectives. The result is that, for the first time, owner-operators can assess the value of an investment, ensuring alignment with business priorities and realizing consistently better outcomes.