This document discusses global oil demand, supply, and price forecasts for 2019. It finds that:
- Global oil demand is expected to increase by 1.3 million barrels per day in 2019, lower than 2018 growth. US demand growth will slow significantly.
- Global oil supply is forecast to increase by 1 million barrels per day in 2019, lower than 2018, as OPEC cuts production but US, Russia, and others increase output.
- The oil market is expected to maintain a basic balance between supply and demand in 2019, though there are uncertainties from geopolitical tensions.
- The average price of Brent crude oil in 2019 is forecast between $60-70 per barrel, with risks to
The price of gas is driven primarily by the supply and demand of crude oil. When US domestic oil production increased through improved fracking technology, it caused a dramatic drop in crude oil prices. Lower crude oil prices mean lower gas prices for consumers, saving the average driver $600-700 per year. Gas prices in Terre Haute are higher than in Indianapolis due to Terre Haute's distance from oil refineries and pipelines.
This document is Devon Energy Corporation's 1998 annual report. It summarizes Devon acquiring Northstar Energy Corporation through a merger, creating a larger company with increased proved reserves and production. The merger brought Devon oil and gas properties and management experience in Canada, where opportunities were emerging due to improving natural gas pipeline infrastructure and access to US markets, opening previously unexplored regions. However, low oil prices in 1998 reduced Devon's revenues and led to a net loss for the year.
• US tight oil production and the future oil price
• Dubai:MD and CEO of DEWA receives CEO of First Solar
• UAE's Masdar inks deal to build Mauritania solar projects
• No 'significant' change in Saudi oil policy after king's death
• Algeria:To increase its oil output & renewable energy projects production
• Norway: Det norske commences drilling on the Ivar Aasen field
• Bangladesh:KrisEnergy completes 2D seismic program in SS-11
• India: Energy subsidies prove drain on Indian economy
• Oil producers in US not able to drill at $45 a barrel
• Oil price plunge to boost global M&A activity in 2015, says EY
The document summarizes a speech given by David Greer, CEO of Regal Petroleum, about challenges facing the oil and gas industry in the coming decade. It discusses how the 2008 financial crisis impacted both "Drillers" (E&P companies) and "Dealers" (bankers), forcing them to adjust business models. It also examines uncertainties around the economic recovery, future oil and gas demand and supply, and ensuring adequate skilled labor in the industry. The outlook for Drillers and Dealers remains uncertain as they must adapt to new challenges in seeking to meet global energy needs over the long term.
Grant Thornton - Survey of Upstream U.S. Energy Companies 2012Grant Thornton
The document provides a summary of the 2012 Grant Thornton LLP Survey of Upstream U.S. Energy Companies. Some of the key findings from the survey include:
1) Respondents expect natural gas prices to average $3.91/Mcf in 2012 and crude oil prices to average $93.14/barrel, with price volatility remaining a top concern.
2) Over 60% of respondents plan to increase domestic capital expenditures in 2012, though willingness to acquire reserves at higher prices declined slightly.
3) Employment in the oil and gas industry is expected to increase in 2012, with over 70% of companies anticipating higher employment levels and difficulties hiring technical staff.
4)
GT - Growth strategy: Perspectives from financial executivesGrant Thornton
We’ve all heard the expression “grow or die,” but how are financial executives thinking about their own companies’ growth? A joint report by FEI Canada and Grant Thornton LLP that seeks to answer this question.
Mercer Capital's Value Focus: Exploration and Production | Q2 2018 | Segment:...Mercer Capital
Mercer Capital's Energy Industry newsletter provides perspective on valuation issues. Each newsletter also typically includes macroeconomic trends, industry trends, and guideline public company metrics.
Mercer Capital's Value Focus: Exploration and Production | Q3 2018 | Segment:...Mercer Capital
Mercer Capital's Exploration and Production newsletter provides perspective on valuation issues. Each newsletter also typically includes macroeconomic trends, industry trends, and guideline public company metrics.
The price of gas is driven primarily by the supply and demand of crude oil. When US domestic oil production increased through improved fracking technology, it caused a dramatic drop in crude oil prices. Lower crude oil prices mean lower gas prices for consumers, saving the average driver $600-700 per year. Gas prices in Terre Haute are higher than in Indianapolis due to Terre Haute's distance from oil refineries and pipelines.
This document is Devon Energy Corporation's 1998 annual report. It summarizes Devon acquiring Northstar Energy Corporation through a merger, creating a larger company with increased proved reserves and production. The merger brought Devon oil and gas properties and management experience in Canada, where opportunities were emerging due to improving natural gas pipeline infrastructure and access to US markets, opening previously unexplored regions. However, low oil prices in 1998 reduced Devon's revenues and led to a net loss for the year.
• US tight oil production and the future oil price
• Dubai:MD and CEO of DEWA receives CEO of First Solar
• UAE's Masdar inks deal to build Mauritania solar projects
• No 'significant' change in Saudi oil policy after king's death
• Algeria:To increase its oil output & renewable energy projects production
• Norway: Det norske commences drilling on the Ivar Aasen field
• Bangladesh:KrisEnergy completes 2D seismic program in SS-11
• India: Energy subsidies prove drain on Indian economy
• Oil producers in US not able to drill at $45 a barrel
• Oil price plunge to boost global M&A activity in 2015, says EY
The document summarizes a speech given by David Greer, CEO of Regal Petroleum, about challenges facing the oil and gas industry in the coming decade. It discusses how the 2008 financial crisis impacted both "Drillers" (E&P companies) and "Dealers" (bankers), forcing them to adjust business models. It also examines uncertainties around the economic recovery, future oil and gas demand and supply, and ensuring adequate skilled labor in the industry. The outlook for Drillers and Dealers remains uncertain as they must adapt to new challenges in seeking to meet global energy needs over the long term.
Grant Thornton - Survey of Upstream U.S. Energy Companies 2012Grant Thornton
The document provides a summary of the 2012 Grant Thornton LLP Survey of Upstream U.S. Energy Companies. Some of the key findings from the survey include:
1) Respondents expect natural gas prices to average $3.91/Mcf in 2012 and crude oil prices to average $93.14/barrel, with price volatility remaining a top concern.
2) Over 60% of respondents plan to increase domestic capital expenditures in 2012, though willingness to acquire reserves at higher prices declined slightly.
3) Employment in the oil and gas industry is expected to increase in 2012, with over 70% of companies anticipating higher employment levels and difficulties hiring technical staff.
4)
GT - Growth strategy: Perspectives from financial executivesGrant Thornton
We’ve all heard the expression “grow or die,” but how are financial executives thinking about their own companies’ growth? A joint report by FEI Canada and Grant Thornton LLP that seeks to answer this question.
Mercer Capital's Value Focus: Exploration and Production | Q2 2018 | Segment:...Mercer Capital
Mercer Capital's Energy Industry newsletter provides perspective on valuation issues. Each newsletter also typically includes macroeconomic trends, industry trends, and guideline public company metrics.
Mercer Capital's Value Focus: Exploration and Production | Q3 2018 | Segment:...Mercer Capital
Mercer Capital's Exploration and Production newsletter provides perspective on valuation issues. Each newsletter also typically includes macroeconomic trends, industry trends, and guideline public company metrics.
Mercer Capital's Value Focus: Refining | Year-End 2018Mercer Capital
Mercer Capital's Energy Industry newsletter provides perspective on valuation issues. Each newsletter also typically includes macroeconomic trends, industry trends, and guideline public company metrics.
The article discusses waste to energy as a way to recycle hydrocarbon footprints. It notes that global energy demand is expected to increase 50% by 2030, requiring an additional 30 billion barrels of oil annually. This increased demand is driven by growing economies in emerging markets seeking to industrialize and raise living standards. The article suggests waste to energy could help meet this demand by converting municipal waste and agricultural residues into energy, providing a recyclable source of hydrocarbons.
TransGen Energy is an international energy company that provides gasoline, diesel, aviation and marine fuel, and lubricants to government and commercial clients in the United States and worldwide. As an SBA-certified Service Disabled Veteran Owned Small Business, TransGen Energy delivers the right petroleum products at competitive prices through strategic domestic and international relationships.
OIL's vision is to be a knowledge-based, competitive exploration and production company with global presence and selective presence across the oil and gas value chain in India, maximizing shareholder value while respecting stakeholders and the environment. The document discusses OIL's potential for mergers and acquisitions to expand beyond territorial boundaries into the upstream, downstream, natural gas, and chemicals value chains. It analyzes the different risk and return profiles of businesses in each segment of the oil and gas industry value chain.
The document discusses the uncertain future of the energy industry and how gearbox manufacturers are responding. It summarizes that the oil/gas, coal, and wind industries are all facing challenges due to fluctuating market prices and increasing renewable energy adoption. Gear manufacturers are focusing on supplying the aftermarket as these industries cut costs. Improved monitoring also allows for repair versus replacement. The aftermarket presents opportunities for smaller companies despite industry consolidation and pressure to reduce prices.
Financial Algorithms presents the energy trading scenario for the year 2016. In this presentation, after examining various fundamental factors in energy sector, FA forecasts the crude oil price, gasoline & natural gas price levels for the year 2016; in case of mean volatility levels and high volatility levels, both. FA also focuses on how to model price levels and volatility surfaces in low volatility and high volatility scenarios under forward & forward-forward models using various energy contracts and spreads i.e. crack spread. Various greek sensitivities including second order & third order greeks, which can be helpful in projecting the price & volatility levels, are also described. At the end, correlation factors, fundamental & technical both, are discussed. These correlation factors are exogenous in price forecasting, and new emerging trends which can affect the energy trading in a long run also been discussed.
The North American Crude Boom: Impacts on U.S. & PADD IV RefinersTmc2920
John Auers of Turner, Mason & Company presented on the impacts of increasing North American crude oil production on US and PADD IV refiners. Production is forecasted to significantly increase in the US and Canada through 2020. This will change the crude slate available, providing more light sweet crude from areas like the Bakken and heavier sour crude from Canada. This is expected to displace some imported crude and cause regional crude price imbalances. PADD IV in particular will see a growing crude surplus that refiners must find markets for through pipelines, rail, or exports. PADD IV refiners should continue to experience strong margins due to lower local crude costs and demand growth above the US average.
This corporate presentation provides an overview of Denbury Resources, a company that uses carbon dioxide enhanced oil recovery (CO2 EOR) to produce oil from mature oil fields. Some key points:
- Denbury has over 1,100 miles of CO2 pipelines and a large inventory of mature oil fields that it acquires and develops using CO2 EOR.
- CO2 EOR has provided Denbury with a 29% compound annual growth rate in production since 1999 and over 90 million barrels of oil produced to date.
- Denbury estimates there are over 1 billion barrels of potential oil reserves recoverable across its Gulf Coast and Rocky Mountain regions using CO2 EOR.
This document analyzes EOG Resources, an oil and gas company. It assigns weights to technical, fundamental, and speculative factors in its analysis. Key points include: EOG has significant reserves and production in the Eagle Ford region; fundamentals like cash flow and margins have improved; and technically, the stock may be forming a new upward cycle but faces resistance at $105. The recommendation is to underperform in the short term until crude prices and geopolitics stabilize, but overweight in the long term due to strong fundamentals.
Denbury Resources is an oil and gas company focused on enhanced oil recovery using carbon dioxide flooding. It operates in the Gulf Coast and Rocky Mountain regions of the United States. Denbury has over 1 billion barrels of proved and potential reserves that could be recovered through CO2 flooding. The company aims to grow its reserves and production through organic projects while maintaining spending within cash flows. Denbury also seeks to increase the sustainability of its operations by annually injecting millions of tons of industrial carbon dioxide into its oil reservoirs.
111201 oil price forcast update decemberNordea Bank
High oil prices are expected to drive new production opportunities from unconventional sources like oil sands and shale oil. However, political unrest in major oil producing countries poses risks to necessary capacity expansions. The forecast calls for weaker oil prices in the first half of 2012 due to economic concerns in Europe, but prices are expected to strengthen in the second half of the year and through 2013 as demand increases. While new production sources are anticipated, instability in the Middle East could threaten investments needed to offset declines from mature fields.
Joseph Israel, President & CEO of Par Petroleum, discusses the outlook for the US refining industry. He notes that global oil demand is growing faster than in the past decade due to lower oil prices. While OPEC tries to control supply, global production is expected to increase by under 1 million barrels per day in 2017, keeping the market undersupplied. US refineries are operating at high utilization rates to meet strong demand from Latin America, Europe, and exports, which now make up 30% of US refinery production compared to less than 15% seven years ago. Effective refining management requires developing flexibility to adapt to changing market dynamics rather than trying to predict the future.
Global Economic Outlook for Ethanol Producerskcoemkt
The document provides an overview of the global economic outlook for ethanol producers. It discusses factors such as crude oil and corn prices, US and global ethanol supply and demand fundamentals, export market conditions in countries like Canada and Brazil, and seasonal price trends for ethanol. It analyzes how economic conditions in key countries may impact their ethanol imports. The outlook suggests ethanol inventories may increase in early 2015 unless production rises or exports are stronger than expected.
How The Global Automobile & Airline Industries Are Impacting The Global E...Vincent J. Lentini
This 170-page research paper examines trends in the global energy industry from 2000-2010 and provides forecasts out to 2030. It covers topics like natural gas, crude oil, automotive markets, airlines, and major energy companies. The paper includes over 20 sections analyzing various aspects of the oil, gas, auto, and airline industries, and concludes that crude oil demand will continue rising significantly over the next 20 years, creating major challenges for the global energy system.
What's the difference between WTI and Brent Crude Oil? [PPT] Arne Pohlman
If you are not too familiar with traded commodities, odds are that crude oil is one you know a little about. Oil, the magical elixir that much of our lives run on, even if we are not aware of it, is being consumed at a higher rate globally every year. But did you know that there are different kinds of crude oil? If you did, you may have heard of Brent and WTI Crude Oil. Do you know what the difference is between Brent and WTI Crude oil? Did you know there was a difference between the crude oils extracted around the world? If you didn’t, you’re not alone – most people likely don’t know the difference between the two. If you are curious as to what sets various crude oils apart, especially Brent and WTI, this blog post will shed some light on the differences as well as explain a bit about the Crude Oil futures markets and what role Brent and WTI play in the global oil commodity trade. But, before getting into the specifics of Brent and WTI, it might be helpful to first go through what quality metrics differentiate crude oils from one another.
Download a FREE sample of
Commodities FocusEconomics Consensus Forecast
http://www.focus-economics.com/commodities2016
Financial statement analysis of US companiesIftesham Jahan
The document provides financial ratios for Apache Corporation, BP PLC, Exxon Mobil Corporation, and industry averages for the years 2009-2011. It analyzes Apache's short-term activity ratios, liquidity ratios, debt and solvency ratios, and profitability ratios over this period. Apache's inventory turnover and receivables turnover improved from 2009-2010 but deteriorated from 2010-2011. Its liquidity ratios declined from 2009-2011. Debt ratios improved from 2010-2011 after declining from 2009-2010. Profitability ratios steadily increased from 2009-2011, with Apache outperforming peers and industry averages on these measures. Brief descriptions of BP, Chevron, and Exxon are also provided.
Mercer Capital's Value Focus: Energy Industry | Q2 2019 | Region: Permian BasinMercer Capital
Mercer Capital's Energy Industry newsletter provides perspective on valuation issues. Each newsletter also typically includes macroeconomic trends, industry trends, and guideline public company metrics.
Jp morgan 2017 global high yield leveraged finance conference finalDenbury
- Denbury is an oil and gas company focused on enhanced oil recovery using carbon dioxide flooding. Over 60% of its production comes from CO2 EOR projects.
- It has significant oil-weighted proved reserves of 260 MMBOE as well as substantial additional proved plus probable and possible reserves potential from identified CO2 EOR projects.
- Denbury has extensive CO2 pipeline infrastructure and owns natural underground CO2 resources, giving it a cost structure largely independent of oil prices.
Essentials of LNG Trading and Risk Management Reportkasper1
The main drivers of the LNG markets supply and demand are relatively easy to predict for the short and midterm. How is it then possible that the LNG market has changed so dramatically over the past few years? Who could have forecasted the impact of the shale gas revolution due to new technology to extract gas from shale economically? Who could have forecasted that as a result of the Fukushima earthquake not only Japan would have to change its energy mix and rely more on more on LNG imports, but also that Germany would phase out its nuclear plants? These changes have had an impact on supply and demand, and have affected gas pricing differently in various parts of the world.
There are so many issues that could influence the way the LNG trading markets will develop. It is therefore crucial for you and your company to understand the current and future drivers of the trading markets.
In this report we will give you an overview of the essential drivers of the trading markets and you will get close being a real LNG trader. We will discuss all the relevant information, market outlook, expectations, forecasts, available derivative instruments etc. that a trader will use to determine his or her strategy.
We will answer questions like how does the future of LNG trading looks like until the end of this decade? What will be the main drivers and possible game changers to look out for ? What will be the impact of new LNG output from Australia and the US coming on stream in the years to come? Will there be enough shipping capacity available or is that going to become the main constraint? What will happen to demand in Asia, will it really surge as predicted? What will be the impact of the demand for LNG in the Middle East for the European players?
All that uncertainty would also increase the need for risk management
and hedging instruments like JKM Swaps. By using practical examples we will discuss the strategies that you could apply.
This is a highly practical and essential report for everyone who would like to understand what is driving the LNG trading markets.
Mercer Capital's Value Focus: Refining | 2Q16 Mercer Capital
The refining industry faces uncertainty due to commodity prices determining both input costs and product prices. Refiners previously benefited from low crude prices but now face tighter margins as product prices rise slower than crude. M&A activity in refining has slowed as investors wait for long-term impacts of the crude export lifting to be understood. Public refiner valuations remain inflated due to recent margin compression, viewed as temporary.
A study released by the analysts at consulting firm Deloitte that looks at the top issues facing the oil and gas sector. The study finds that within the next 5-6 years surging shale oil and natural gas production in the U.S. will "cut deeply" into OPEC's influence on setting world oil prices.
Mercer Capital's Value Focus: Refining | Year-End 2018Mercer Capital
Mercer Capital's Energy Industry newsletter provides perspective on valuation issues. Each newsletter also typically includes macroeconomic trends, industry trends, and guideline public company metrics.
The article discusses waste to energy as a way to recycle hydrocarbon footprints. It notes that global energy demand is expected to increase 50% by 2030, requiring an additional 30 billion barrels of oil annually. This increased demand is driven by growing economies in emerging markets seeking to industrialize and raise living standards. The article suggests waste to energy could help meet this demand by converting municipal waste and agricultural residues into energy, providing a recyclable source of hydrocarbons.
TransGen Energy is an international energy company that provides gasoline, diesel, aviation and marine fuel, and lubricants to government and commercial clients in the United States and worldwide. As an SBA-certified Service Disabled Veteran Owned Small Business, TransGen Energy delivers the right petroleum products at competitive prices through strategic domestic and international relationships.
OIL's vision is to be a knowledge-based, competitive exploration and production company with global presence and selective presence across the oil and gas value chain in India, maximizing shareholder value while respecting stakeholders and the environment. The document discusses OIL's potential for mergers and acquisitions to expand beyond territorial boundaries into the upstream, downstream, natural gas, and chemicals value chains. It analyzes the different risk and return profiles of businesses in each segment of the oil and gas industry value chain.
The document discusses the uncertain future of the energy industry and how gearbox manufacturers are responding. It summarizes that the oil/gas, coal, and wind industries are all facing challenges due to fluctuating market prices and increasing renewable energy adoption. Gear manufacturers are focusing on supplying the aftermarket as these industries cut costs. Improved monitoring also allows for repair versus replacement. The aftermarket presents opportunities for smaller companies despite industry consolidation and pressure to reduce prices.
Financial Algorithms presents the energy trading scenario for the year 2016. In this presentation, after examining various fundamental factors in energy sector, FA forecasts the crude oil price, gasoline & natural gas price levels for the year 2016; in case of mean volatility levels and high volatility levels, both. FA also focuses on how to model price levels and volatility surfaces in low volatility and high volatility scenarios under forward & forward-forward models using various energy contracts and spreads i.e. crack spread. Various greek sensitivities including second order & third order greeks, which can be helpful in projecting the price & volatility levels, are also described. At the end, correlation factors, fundamental & technical both, are discussed. These correlation factors are exogenous in price forecasting, and new emerging trends which can affect the energy trading in a long run also been discussed.
The North American Crude Boom: Impacts on U.S. & PADD IV RefinersTmc2920
John Auers of Turner, Mason & Company presented on the impacts of increasing North American crude oil production on US and PADD IV refiners. Production is forecasted to significantly increase in the US and Canada through 2020. This will change the crude slate available, providing more light sweet crude from areas like the Bakken and heavier sour crude from Canada. This is expected to displace some imported crude and cause regional crude price imbalances. PADD IV in particular will see a growing crude surplus that refiners must find markets for through pipelines, rail, or exports. PADD IV refiners should continue to experience strong margins due to lower local crude costs and demand growth above the US average.
This corporate presentation provides an overview of Denbury Resources, a company that uses carbon dioxide enhanced oil recovery (CO2 EOR) to produce oil from mature oil fields. Some key points:
- Denbury has over 1,100 miles of CO2 pipelines and a large inventory of mature oil fields that it acquires and develops using CO2 EOR.
- CO2 EOR has provided Denbury with a 29% compound annual growth rate in production since 1999 and over 90 million barrels of oil produced to date.
- Denbury estimates there are over 1 billion barrels of potential oil reserves recoverable across its Gulf Coast and Rocky Mountain regions using CO2 EOR.
This document analyzes EOG Resources, an oil and gas company. It assigns weights to technical, fundamental, and speculative factors in its analysis. Key points include: EOG has significant reserves and production in the Eagle Ford region; fundamentals like cash flow and margins have improved; and technically, the stock may be forming a new upward cycle but faces resistance at $105. The recommendation is to underperform in the short term until crude prices and geopolitics stabilize, but overweight in the long term due to strong fundamentals.
Denbury Resources is an oil and gas company focused on enhanced oil recovery using carbon dioxide flooding. It operates in the Gulf Coast and Rocky Mountain regions of the United States. Denbury has over 1 billion barrels of proved and potential reserves that could be recovered through CO2 flooding. The company aims to grow its reserves and production through organic projects while maintaining spending within cash flows. Denbury also seeks to increase the sustainability of its operations by annually injecting millions of tons of industrial carbon dioxide into its oil reservoirs.
111201 oil price forcast update decemberNordea Bank
High oil prices are expected to drive new production opportunities from unconventional sources like oil sands and shale oil. However, political unrest in major oil producing countries poses risks to necessary capacity expansions. The forecast calls for weaker oil prices in the first half of 2012 due to economic concerns in Europe, but prices are expected to strengthen in the second half of the year and through 2013 as demand increases. While new production sources are anticipated, instability in the Middle East could threaten investments needed to offset declines from mature fields.
Joseph Israel, President & CEO of Par Petroleum, discusses the outlook for the US refining industry. He notes that global oil demand is growing faster than in the past decade due to lower oil prices. While OPEC tries to control supply, global production is expected to increase by under 1 million barrels per day in 2017, keeping the market undersupplied. US refineries are operating at high utilization rates to meet strong demand from Latin America, Europe, and exports, which now make up 30% of US refinery production compared to less than 15% seven years ago. Effective refining management requires developing flexibility to adapt to changing market dynamics rather than trying to predict the future.
Global Economic Outlook for Ethanol Producerskcoemkt
The document provides an overview of the global economic outlook for ethanol producers. It discusses factors such as crude oil and corn prices, US and global ethanol supply and demand fundamentals, export market conditions in countries like Canada and Brazil, and seasonal price trends for ethanol. It analyzes how economic conditions in key countries may impact their ethanol imports. The outlook suggests ethanol inventories may increase in early 2015 unless production rises or exports are stronger than expected.
How The Global Automobile & Airline Industries Are Impacting The Global E...Vincent J. Lentini
This 170-page research paper examines trends in the global energy industry from 2000-2010 and provides forecasts out to 2030. It covers topics like natural gas, crude oil, automotive markets, airlines, and major energy companies. The paper includes over 20 sections analyzing various aspects of the oil, gas, auto, and airline industries, and concludes that crude oil demand will continue rising significantly over the next 20 years, creating major challenges for the global energy system.
What's the difference between WTI and Brent Crude Oil? [PPT] Arne Pohlman
If you are not too familiar with traded commodities, odds are that crude oil is one you know a little about. Oil, the magical elixir that much of our lives run on, even if we are not aware of it, is being consumed at a higher rate globally every year. But did you know that there are different kinds of crude oil? If you did, you may have heard of Brent and WTI Crude Oil. Do you know what the difference is between Brent and WTI Crude oil? Did you know there was a difference between the crude oils extracted around the world? If you didn’t, you’re not alone – most people likely don’t know the difference between the two. If you are curious as to what sets various crude oils apart, especially Brent and WTI, this blog post will shed some light on the differences as well as explain a bit about the Crude Oil futures markets and what role Brent and WTI play in the global oil commodity trade. But, before getting into the specifics of Brent and WTI, it might be helpful to first go through what quality metrics differentiate crude oils from one another.
Download a FREE sample of
Commodities FocusEconomics Consensus Forecast
http://www.focus-economics.com/commodities2016
Financial statement analysis of US companiesIftesham Jahan
The document provides financial ratios for Apache Corporation, BP PLC, Exxon Mobil Corporation, and industry averages for the years 2009-2011. It analyzes Apache's short-term activity ratios, liquidity ratios, debt and solvency ratios, and profitability ratios over this period. Apache's inventory turnover and receivables turnover improved from 2009-2010 but deteriorated from 2010-2011. Its liquidity ratios declined from 2009-2011. Debt ratios improved from 2010-2011 after declining from 2009-2010. Profitability ratios steadily increased from 2009-2011, with Apache outperforming peers and industry averages on these measures. Brief descriptions of BP, Chevron, and Exxon are also provided.
Mercer Capital's Value Focus: Energy Industry | Q2 2019 | Region: Permian BasinMercer Capital
Mercer Capital's Energy Industry newsletter provides perspective on valuation issues. Each newsletter also typically includes macroeconomic trends, industry trends, and guideline public company metrics.
Jp morgan 2017 global high yield leveraged finance conference finalDenbury
- Denbury is an oil and gas company focused on enhanced oil recovery using carbon dioxide flooding. Over 60% of its production comes from CO2 EOR projects.
- It has significant oil-weighted proved reserves of 260 MMBOE as well as substantial additional proved plus probable and possible reserves potential from identified CO2 EOR projects.
- Denbury has extensive CO2 pipeline infrastructure and owns natural underground CO2 resources, giving it a cost structure largely independent of oil prices.
Essentials of LNG Trading and Risk Management Reportkasper1
The main drivers of the LNG markets supply and demand are relatively easy to predict for the short and midterm. How is it then possible that the LNG market has changed so dramatically over the past few years? Who could have forecasted the impact of the shale gas revolution due to new technology to extract gas from shale economically? Who could have forecasted that as a result of the Fukushima earthquake not only Japan would have to change its energy mix and rely more on more on LNG imports, but also that Germany would phase out its nuclear plants? These changes have had an impact on supply and demand, and have affected gas pricing differently in various parts of the world.
There are so many issues that could influence the way the LNG trading markets will develop. It is therefore crucial for you and your company to understand the current and future drivers of the trading markets.
In this report we will give you an overview of the essential drivers of the trading markets and you will get close being a real LNG trader. We will discuss all the relevant information, market outlook, expectations, forecasts, available derivative instruments etc. that a trader will use to determine his or her strategy.
We will answer questions like how does the future of LNG trading looks like until the end of this decade? What will be the main drivers and possible game changers to look out for ? What will be the impact of new LNG output from Australia and the US coming on stream in the years to come? Will there be enough shipping capacity available or is that going to become the main constraint? What will happen to demand in Asia, will it really surge as predicted? What will be the impact of the demand for LNG in the Middle East for the European players?
All that uncertainty would also increase the need for risk management
and hedging instruments like JKM Swaps. By using practical examples we will discuss the strategies that you could apply.
This is a highly practical and essential report for everyone who would like to understand what is driving the LNG trading markets.
Mercer Capital's Value Focus: Refining | 2Q16 Mercer Capital
The refining industry faces uncertainty due to commodity prices determining both input costs and product prices. Refiners previously benefited from low crude prices but now face tighter margins as product prices rise slower than crude. M&A activity in refining has slowed as investors wait for long-term impacts of the crude export lifting to be understood. Public refiner valuations remain inflated due to recent margin compression, viewed as temporary.
A study released by the analysts at consulting firm Deloitte that looks at the top issues facing the oil and gas sector. The study finds that within the next 5-6 years surging shale oil and natural gas production in the U.S. will "cut deeply" into OPEC's influence on setting world oil prices.
The document provides an analysis of the oilfield services sector with a positive outlook. Key points:
- The production response to lower oil prices will provide a positive catalyst for the sector as commodity market balances tighten in 2016.
- US land activity is expected to recover first, with the US land rig count bottoming in late 2015/early 2016 and recovering through 2017. This will tighten pressure pumping markets in late 2016.
- Offshore rig demand is forecasted to decline about 26% in 2016 before a fuller recovery by 2018, as exploration spending declines 40% year-over-year in 2016 are not sustainable long term.
- The document concludes oilfield service equities trading at bearish
The document discusses the challenges facing the LNG industry due to rising costs and price volatility. It notes that LNG project costs escalated dramatically between 2004-2010 due to increased demand for contractors and materials. This was exacerbated by projects being awarded as lump-sum contracts, forcing contractors to add risk premiums to cover uncertainties. Additionally, contractors significantly increased profit margins during this period. The document outlines factors driving recent oil and LNG price declines, creating difficulties for many producer countries and companies.
The document discusses OPEC's role as a monopoly in the global oil market and how it can influence prices. It outlines factors like increased winter demand, supply disruptions, and OPEC's decision to increase production by 800,000 barrels per day to lower prices. However, this small increase is unlikely to significantly impact prices given total world consumption growth. The US oil industry has consolidated since the 1970s, making companies larger and better able to compete with OPEC. Alternative energy sources may eventually replace oil but have not been fully developed yet.
This document provides an initiating coverage report on Exxon Mobil Corp by The William C. Dunkelberg Owl Fund. It recommends buying Exxon stock with a target price of $88.07, noting that Exxon is currently trading at a discount to its historical valuation relative to competitor Chevron. The report analyzes Exxon's business segments, the integrated oil and gas industry environment of low oil prices and excess supply, and catalysts like expansions that are expected to drive future earnings growth.
This document summarizes a Congressional Research Service report on the economic performance and challenges facing the US petroleum refining industry. It outlines how the industry has undergone significant structural changes in recent years, shifting from a model of vertically integrated oil companies to independent profit-focused refiners. It discusses the capital intensive nature of refining and its dependence on crude oil prices. The industry faces challenges meeting environmental regulations while earning sufficient returns to reinvest, which could impact domestic fuel supply and security if not addressed.
Fuels refining is an integral component of Canada's oil and gas value chain. Refineries are the crucial manufacturing intermediary between crude oil and refined products.
View this to understand the business of processing crude oil into fuels and other value added products.
To learn more, please visit: http://www.canadianfuels.ca
VF: Exploration and Production: Q4 2018 | Region Focus: AppalachiaMercer Capital
Mercer Capital's Energy Industry newsletter provides perspective on valuation issues. Each newsletter also typically includes macroeconomic trends, industry trends, and guideline public company metrics.
Mercer Capital's Value Focus: Energy Industry | Q1 2018 | Segment: Explorati...Mercer Capital
Mercer Capital's Energy Industry newsletter provides perspective on valuation issues. Each newsletter also typically includes macroeconomic trends, industry trends, and guideline public company metrics.
The document summarizes oil, gas, and drilling markets. It notes that while oil prices are expected to remain stable, excess inventories will decrease gas prices. Overall US rig activity is projected to increase slightly in 2012 and 2013, with higher oil rig counts offsetting declines in gas. Drilling and completion costs are forecast to decline in the near term. International rig activity is also expected to rise in 2012 and 2013, while US oilfield equipment and frac spending will decrease through 2013 due to oversupply.
Mercer Capital's Value Focus: Energy Industry | Q3 2021 | Segment: BakkenMercer Capital
Mercer Capital's Energy Industry newsletter provides perspective on valuation issues. Each newsletter also typically includes a macroeconomic trends, industry trends, and guideline public company metrics.
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Mercer Capital's Energy Industry newsletter provides perspective on valuation issues. Each newsletter also typically includes macroeconomic trends, industry trends, and guideline public company metrics.
The sustainability of trading profits has always been questioned. Volatility has returned to pre-crisis levels and, absent more disruption, the size of the opportunity will shrink.
See this week's edition of EY Price Point
What the drop in oil prices means for the economy and office marketsJLL
Lower oil prices will negatively impact energy companies through reduced profit margins and capital spending cuts, leading to potential job losses. However, lower gas prices provide an economic stimulus for consumers and other industries through substantial savings. While energy-focused office markets may see weaker demand from energy companies scaling back, the broader economic benefits of low oil prices and diversifying economies will help offset negative impacts on office fundamentals. The long-term impact on office markets depends on the level of mergers and acquisitions in the energy sector and whether prices remain low, increasing vacant space through consolidation.
This document provides an overview and analysis of the integrated oil and gas industry. It begins with definitions of the upstream, midstream, and downstream segments. It then discusses the major industry drivers like expected capital expenditures through 2025. The largest portions are spent on projects in the US, Russia, and Canada. Porter's Five Forces model is also examined, finding low buyer power, moderate supplier power, and a low threat of new entrants due to industry consolidation and regulations.
Mercer Capital's Value Focus: Energy Industry | Q2 2022 | Segment: PermianMercer Capital
Mercer Capital's Energy Industry newsletter provides perspective on valuation issues. Each newsletter also typically includes macroeconomic trends, industry trends, and guideline public company metrics.
Mercer Capital's Value Focus: Energy Industry | 3Q 2015 | Segment: Explorati...Mercer Capital
Mercer Capital's Energy Industry newsletter provides perspective on valuation issues. Each newsletter also typically includes a macroeconomic trends, industry trends, and guideline public company metrics.
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Mercer Capital's Energy Industry newsletter provides perspective on valuation issues. Each newsletter also typically includes macroeconomic trends, industry trends, and guideline public company metrics.
Main Java[All of the Base Concepts}.docxadhitya5119
This is part 1 of my Java Learning Journey. This Contains Custom methods, classes, constructors, packages, multithreading , try- catch block, finally block and more.
How to Setup Warehouse & Location in Odoo 17 InventoryCeline George
In this slide, we'll explore how to set up warehouses and locations in Odoo 17 Inventory. This will help us manage our stock effectively, track inventory levels, and streamline warehouse operations.
Chapter wise All Notes of First year Basic Civil Engineering.pptxDenish Jangid
Chapter wise All Notes of First year Basic Civil Engineering
Syllabus
Chapter-1
Introduction to objective, scope and outcome the subject
Chapter 2
Introduction: Scope and Specialization of Civil Engineering, Role of civil Engineer in Society, Impact of infrastructural development on economy of country.
Chapter 3
Surveying: Object Principles & Types of Surveying; Site Plans, Plans & Maps; Scales & Unit of different Measurements.
Linear Measurements: Instruments used. Linear Measurement by Tape, Ranging out Survey Lines and overcoming Obstructions; Measurements on sloping ground; Tape corrections, conventional symbols. Angular Measurements: Instruments used; Introduction to Compass Surveying, Bearings and Longitude & Latitude of a Line, Introduction to total station.
Levelling: Instrument used Object of levelling, Methods of levelling in brief, and Contour maps.
Chapter 4
Buildings: Selection of site for Buildings, Layout of Building Plan, Types of buildings, Plinth area, carpet area, floor space index, Introduction to building byelaws, concept of sun light & ventilation. Components of Buildings & their functions, Basic concept of R.C.C., Introduction to types of foundation
Chapter 5
Transportation: Introduction to Transportation Engineering; Traffic and Road Safety: Types and Characteristics of Various Modes of Transportation; Various Road Traffic Signs, Causes of Accidents and Road Safety Measures.
Chapter 6
Environmental Engineering: Environmental Pollution, Environmental Acts and Regulations, Functional Concepts of Ecology, Basics of Species, Biodiversity, Ecosystem, Hydrological Cycle; Chemical Cycles: Carbon, Nitrogen & Phosphorus; Energy Flow in Ecosystems.
Water Pollution: Water Quality standards, Introduction to Treatment & Disposal of Waste Water. Reuse and Saving of Water, Rain Water Harvesting. Solid Waste Management: Classification of Solid Waste, Collection, Transportation and Disposal of Solid. Recycling of Solid Waste: Energy Recovery, Sanitary Landfill, On-Site Sanitation. Air & Noise Pollution: Primary and Secondary air pollutants, Harmful effects of Air Pollution, Control of Air Pollution. . Noise Pollution Harmful Effects of noise pollution, control of noise pollution, Global warming & Climate Change, Ozone depletion, Greenhouse effect
Text Books:
1. Palancharmy, Basic Civil Engineering, McGraw Hill publishers.
2. Satheesh Gopi, Basic Civil Engineering, Pearson Publishers.
3. Ketki Rangwala Dalal, Essentials of Civil Engineering, Charotar Publishing House.
4. BCP, Surveying volume 1
How to Add Chatter in the odoo 17 ERP ModuleCeline George
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An import error occurs when a program fails to import a module or library, disrupting its execution. In languages like Python, this issue arises when the specified module cannot be found or accessed, hindering the program's functionality. Resolving import errors is crucial for maintaining smooth software operation and uninterrupted development processes.
Exploiting Artificial Intelligence for Empowering Researchers and Faculty, In...Dr. Vinod Kumar Kanvaria
Exploiting Artificial Intelligence for Empowering Researchers and Faculty,
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By Dr. Vinod Kumar Kanvaria
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Leveraging Generative AI to Drive Nonprofit InnovationTechSoup
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This document provides an overview of wound healing, its functions, stages, mechanisms, factors affecting it, and complications.
A wound is a break in the integrity of the skin or tissues, which may be associated with disruption of the structure and function.
Healing is the body’s response to injury in an attempt to restore normal structure and functions.
Healing can occur in two ways: Regeneration and Repair
There are 4 phases of wound healing: hemostasis, inflammation, proliferation, and remodeling. This document also describes the mechanism of wound healing. Factors that affect healing include infection, uncontrolled diabetes, poor nutrition, age, anemia, the presence of foreign bodies, etc.
Complications of wound healing like infection, hyperpigmentation of scar, contractures, and keloid formation.
1. ARTC2019
25-27 March 2019
Oil Demand
With the global
financial market rel-
atively stable and
the trade situation
not seriously dete-
riorating, global oil
demand is expected
to increase by about
1.3 MMbpd in 2019, which is lower than
2018. Among all the countries, the growth
rate of US demand will slow down remark-
ably. The emerging economies with light
debt burden in the Middle East, Africa and
Southeast Asia are less affected by trade
friction and exchange rate fluctuations,
and their contribution to global growth is
expected to increase.
Oil Supply
As major suppliers of oil with an output
over 10 MMbpd, the production strate-
gies and changes of US, Saudi Arabia and
Russia countries are crucial to the market.
OPEC crude oil production will fall by 0.9
MMbpd in 2019 due to the production-
cut agreement, and non-OPEC production
will increase by nearly 2 MMbpd year-on-
year. The growth rate of non-OPEC pro-
duction is slightly lower than that in 2018,
Forecast of global crude oil price 2019
mainly due to the increase in production
of the US, Russia, Canada, Brazil, and
other countries. In general, Global oil sup-
ply is expected to increase by 1 MMbpd in
2019, which is lower than in 2018.
Balance
Under this circumstance, the fundamen-
tals of the global oil market is likely to
maintain a basic balance between supply
and demand, but the market is still facing
many uncertainties.
UncertaintieS
Geopolitical tensions escalated dramati-
cally in early 2019, and all signs are now
pointing to even lower OPEC supply than
previously expected. Besides, even the
OPEC members with the highest expected
2019 supply growth, Iraq and Nigeria,
carry notable security risks.
The most significant political develop-
ment came when the US implemented sur-
prisingly punitive oil sector sanctions on
Venezuela. Measures include a de facto
ban on Venezuelan crude exports to the
US, and an explicit ban on US diluent
exports to Venezuela. As a result, we fore-
cast its crude supply to be lower than 900
Mbpd by the end of second quarter.
The next US waiver deadline of Iran
sanction is 4 May. One of the largest ques-
tion for oil markets is how the US will
handle the next waiver requests. As hap-
pened before the previous waiver dead-
line in November 2018, uncertainty will
persist until the final weeks or even days.
We believe some waivers will ultimately
be granted again, on the condition of even
greater cuts and exports may duly fall to
800 Mbpd in Q419.
Conclusion
In general, we expect the international
oil price in 2019 to be slightly lower than
2018, and the average price of Brent is
expected to be US$60-70/Bbl.
High scenario: US nuclear sanctions
against Iran escalate and local conflicts
break out; or the geopolitical turmoil of
other oil-producing countries escalates,
and the average price of Brent exceeds
US$80/Bbl.
Low scenario: Economic crisis occurs
and oil demand drops significantly; or the
US and Iran re-establish a nuclear agree-
ment, the supply and demand is loose, and
the average oil price of Brent is lower than
US$60/Bbl. ■
Pitfalls in managing precious
metals assets 3
The IMO regulations and
their impact on the world
of refining 7
Celebrating women in the
downstream industry 8
Refining’s digital
transformation 10
In-line H2
S analysis during
sulphiding 11
Residue conversion enhances
the pulse of Asia-Pacific
refining 12
A new generation of catalyst
is born: TK-6001 HySwell 13
The dichotomy of the energy
landscape 13
Activity still key for FCC
catalyst to improve profit
margin 14
inside
Yu Jiao sinopec
Shell Catalysts & Technologies 2
World Refining Association 6
Digitalrefining.com 7
Sabin Metal 10
Arkema 12
World Refining Association 15
Crystaphase 16
advertisers
Official newspaper published by Crambeth Allen Publishing
1
Global energy needs continue to increase
year after year. This means the challenges
that Shell customers will face in meet-
ing those needs will continue to increase.
Bringing together Shell’s catalyst, licens-
ing and technical services businesses
under the banner of Shell Catalysts &
Technologies will help continue growing
your business and highlight our commit-
ment to the industry by bringing the new-
est technology to address the world’s
important issues.
CRI, Criterion and Shell Global Solutions
have always been at the forefront of devel-
oping new technologies. Moving forward,
operating under the Shell Catalysts &
Technologies brand, we can provide even
stronger support to customers through
better integrated technologies, catalysts
and services We are better positioned to
help customers meet complex and grow-
ing challenges, such as increasing bio-
fuel content in transportation fuels and
improving air quality through improved
emissions control and carbon capture.
By working with Shell Catalysts &
Technologies, customers will have all the
benefits of working with one team that can
bring a comprehensive approach along
with the innovative solutions they need –
today and into the future. Furthermore,
Shell Catalysts & Technologies can bring a
wider range of integrated solutions across
a much larger value chain, including
upstream, downstream, refining, chemi-
cals, and gas processing.
Powering progress together by collab-
orating around solutions to help provide
more and cleaner energy, Shell contin-
ues to demonstrate its commitment to its
customers’ success. No matter what their
specific needs are, Shell’s customers’ uni-
verse of answers, expert advice and pos-
sibilities will become much larger. This
change means more opportunity as Shell
Catalysts & Technologies embraces an
exciting future. ■
Shell Catalysts & Technologies helps find
solutions in the ever-changing energy landscape
SHELL Catalysts & Technologies
DID you know
Shell Catalysts
& Technologies
can bring a wider
range of integrated
solutions?
2. THREE LEGACIES ONE FUTURE
For years, the energy and petrochemical industries have counted on the catalysts, technology licensing, and
services provided by the companies that comprise Criterion, CRI, and Shell Global Solutions. Today, these
companies have come together under the Shell Catalysts & Technologies brand, channeling years of experience
providing value-adding solutions, technologies, and services that drive the industry — and the world — forward.
Learn more about the promise of Shell Catalysts & Technologies at Shell.com/CT
3. 3
Throughout Sabin’s 75 years in business,
we have worked with a great number of
petroleum and petrochemical companies;
shipping, processing and recycling pre-
cious metals from their spent catalysts of
course. But in a larger sense, we help them
manage their precious metals assets.
One of the most common mistakes cata-
lyst users make is thinking they could sell
the catalyst by the kilo to a broker to “save
money” or “save the trouble” of interna-
tional shipping, and so on. This is a huge
risk, as brokers are typically offering 50 to
60% of the PGM value at best. Refining,
including international shipping and all
costs, still returns a net average of over
90% on petroleum catalysts’ true pre-
cious metals value.
Let us look at the calculations for one
such case study. Some of the information
below has been changed to protect client
privacy, and some of the data has been
derived from estimates and market rates:
50,000 kg (or 110,231 lb)
$143,300 Processing US$1.30/pound
$120,000 Shipping (six containers)
$20,496 99.5% accountability
$47,984 Refining charge ($10/ounce Pt)
$331,780 Total estimated charges
This client, we will call XYZ Petroleum,
had 50 MT or just over 110,000 lb of cat-
alyst to be refined. The table above shows
the costs of doing business with the typ-
ical precious metals refiner. One would
normally see three types of charges:
1) The processing fee per kilo or per
pound: this is the cost of having the mate-
rial processed, treated and sampled. The
PM refiner needs to handle the entire ship-
ment, hence this is charged by weight.
2) The accountability fee: this fee, shown
as a reduction of the metal returned, is
meant to account for the physical chal-
lenges of recovering 100% of the actual
metal contained. Extremely low grade
materials, and those difficult to process,
will have lower accountability returns.
3) The refining charge: this charge is
based on the fact that the precious metals
within the catalyst cannot be sold back into
Pitfalls in managing precious metals assets
the market by the PM refiner until they are
fully purified. The refining charge therefore
covers much of the cost of making 99.99%
platinum, palladium, and so on.
When looking at a ‘price to refine’ of over
$300,000, it is common to begin to seek
lower-priced alternatives. Unfortunately,
this is where many people lose sight of
the true bottom line. Instead of focusing
on the $300,000 expense, a better per-
spective can be drawn by realising that
the metal value is far more important than
the fees. Let us compare these refining
charges with the overall cost of selling to
a broker in order to understand the differ-
ence between ‘price’ and ‘cost’.
One metric ton of catalyst (2205 lb)
is worth a little over US$80,000, so
that means that XYZ Petroleum is losing
between $25,000 and $30,000 on every
metric ton that they sell. The full cost of PM
refining is less than $7000 per metric ton.
The ‘cheaper’ option actually costs a million
dollars more.
The important thing to remember when
choosing to refine or sell, or even when
choosing between PM refiners, is not the
processing fee per pound, it is proper
weighing and sampling and accurate analy-
sis. Without that you have nothing. It takes
trained people, calibrated equipment, time
and experience to accomplish this. Sounds
trite, but quality cannot and does not come
cheap. Degrees of accuracy are in direct
correlation to the investment made in cre-
ating them, and there must be a balance
between the performance and quality of
what you are buying and the fair price.
The advantages of refining:
• The catalyst user needs only to lease
or purchase ‘make up’ ounces for replace-
ment catalyst
BRAD cook SaBIN metal
• With proper documentation and good
standing, metal advances are typically
available
• Responsible precious metal refiners
provide certificate of destruction to show
proper disposal, so the catalyst user bears
zero liability.
Disadvantages of direct sale:
• Selling assets at a 30%+ loss can trig-
ger corruption investigation
• Replacement catalyst now requires full
new metal lease or purchase of PGM
• Catalyst user liability continues; no
traceability of proper disposal.
To summarise, you may have heard this
before, but there is no place where this is
more true and correct than in the precious
metals industry: it doesn’t matter what you
know until you know what matters. Know
what the true monetary priorities are and
educate your employees. Know the details
on how your materials will be sampled and
treated and have them verified. And most
of all, know exactly with whom you are
dealing. ■
Contact: bcook@sabinmetal.com
Did You know
Degrees of accuracy
are in direct
correlation to the
investment made in
creating them?
Shipment weight 50,000 Kg
1,607,535 Oz.Try
Platinum content 0.30% 4,822.6 Oz.Try
Platinum per Oz.Try $850 $4,099,214 Estimated Pt value
Full refining costs $331,781 All fees/shipping (see page 1)
Net returned $3,767,433
Net expense to refine 8.1% 91.9% value return
Sale price per kilo $49 60% of platinum value
Sale price total $2,411,528 Less shipping charges of $48,000
Value of cat per kilo $81.98
Asset value lost $1,355,904 Sale vs refining
Net loss 33.1% 66.9% value return
ARTC 2019
4. 08.00 Registration and Welcome Coffee
08.50 Opening Remarks from the Chair
Karambir Anand, Partner, EY
The State of the Industry
09.00 KEYNOTE panel Future-proofing Thailand’s downstream industry
Moderated by: Karambir Anand, Partner, EY
Panelists: Woravuth Sivapetranart, Senior Executive Vice President, IRPC
Krit Kumpabooth, Vice President, Technology, PTT Global Chemical
Narupan Suthamkasem, Vice President, Refinery Development, Bangchak Corporation
Suchart Phowatthanasathian, Director and Refinery Manager, Esso Sriracha Refinery
09.50 Creating a platform for sustainable growth: steps to success – boosting
margins and Europe’s competitive positioning
Mai Tuan Dat, Refinery Deputy Director, Binh Son Refining and Petrochemical
10:10 Innovating for the future – technology and trends
Paul Rek, Vice President, Shell Catalysts & Technologies
10:30 Speed Networking & Morning Networking Break
Interactive Session
11:15 Taking the Pulse
This fully interactive session will see the audience vote in a series of polls addressing
today’s hottest topics! Experts will be on hand for quick fire comments on the results.
Moderated by: Karambir Anand, Partner, EY
Dan Moore, President, ExxonMobil Catalysts & Licensing LLC
Napaporn Ratanapoka, Refinery Technical Manager, PTT Global Chemical
Paul Rek, Vice President, Shell Catalysts & Technologies
Dempsy Robby Kambey, General Manager, PT Kreasindo Resources Indonesia
Petrochemical Spotlight
12:00 Developing a long-term petrochemical strategy
Woravuth Sivapetranart, Senior Executive Vice President, IRPC
12:20 Petrochemical integration in Reliance
Suhas Japtiwale, Assistant Vice President, Reliance Industries
12.45 Lunch
ConferenceDayOne–26thMarch2019
16:50 End of Conference Day One
17.00 Networking Drinks Reception
TechnologySeminar–25thMarch2019
11:30 SEMINAR:TOMORROW’SINNOVATIONSTODAYHosted by GTC Technology
Stream A
Refinery Configuration and Refinery – Petrochemical Integration
Chaired by: Tung Truong Nhu, Consultant, Vietnam Petroleum Institute
14:15 Optimising the value chain: key insights for a value-adding solvent deasphalt-
ing (SDA)–residue gasification scheme
Nan Liu, Licensing Technology Manager, Residue Gasification,
Shell Catalysts & Technologies
14:40 Improve hydroprocessing campaign length and product quality with
contaminant removal
Robert James, Global Market Director, Marketing, Pall Corporation
15:05 Afternoon Networking Break
15:35 Prevent sludge deposit for crude oil with oil compatibility model
Nguyen Manh Huan, Petrochem Tech Department, Vietnam Petroleum Institute
16:00 Catalyst-process technologies for petrochemical feedstock maximisation –
the next generation of refining
John T Haley, Vice President, Overseas Operations, Rezel Catalysts Corporation
16:25 Residue Hydroprocessing in the 2020+ World
Dr. Bob Scheffer, Principal Consultant, Petrogenium
14:15 Achieving optimal performance in down-fired steam methane reformer furnaces
with new technology tunnel design
Dan Barnett, Vice President, Engineering, BD Energy Systems
14:40 Production of quality bitumen using the combination SDA-Biturox Technologies:
case study at the IRPC Rayong Refinery
Vincent Frate, Technology Manager, Poerner Ingenieurgesellschaft mbH
15:05 Afternoon Networking Break
15:35 Turnaround excellence – merging clearing with cleaning
Trey Schuenemann, Vice President of Operations, Refined Technologies Inc.
16:00 Applying success from one process to another: Fouling mitigation in a chloride
treater
Vergel Lantaco, Technical Service Lead, Crystaphase
Jeeranun Neaungjumnong, Process Engineer, PTT Global Chemical
16:00 Energy optimisation, achieved
Jay Jeong, Refinery Market Manager, Alfa Laval Lund AB
Stream B
Operational Excellence and Energy Efficiency
Chaired by: Sunya Tippinij, Division Manager, Refinery & Lube Process Technology, IRPC
13:00-13:45 Roundtable discussions – Which will you choose?
Independent Catalyst Testing: Select the best catalyst with confidence
Led by: Tiago Vilela, Director, Refinery Catalyst Testing, Avantium
Tom Huizinga, Refinery Catalyst Testing SME, Avantium
Precious Metals Management: Simple ROI
Led by: Brad Cook, Vice President, Sabin Metal Corporation
ConferenceDayTwo–27thMarch2019
07.45 Breakfast Briefing
Please join ExxonMobil Catalysts and Licensing LLC for breakfast and briefings on
industry challenges and technology enabling growth.
Addressing challenges through technology
• Challenges facing Asia’s refining and petrochemical industry
• Short-term response: increasing competitiveness and energy efficiency
• Longer-term: investment in COTC technologies and learning to operate
Dan Moore, President, ExxonMobil Catalysts and Licensing LLC
Technology Enabling Growth
• Global and industry trends
• Chemicals growth enablers
• ExxonMobil technologies
Mark Healey, Vice President, ExxonMobil Catalysts and Licensing LLC
08.50 Welcome Coffee
5. 09:00 Pivoting on higher cracking activity and FCC profitability
Tie-Pan Shi, Technical Director, Qingdao Huicheng Environmental Technology Co.
09:25 High Propylene Resid FCC: another successful start-up with AFX
Carel Pouwels, Global FCC Specialist, Light Olefins, Albemarle Catalyst Company BV
Nguyen Kim Manh Hoang, Process Manager, Technical Division, Nghi Son Refinery and
Petrochemical LLC
09:50 Unlocking refinery-wide value through a new, high-performance hydrotreating
catalyst
Louis Burns, Licensing Manager, Downstream Catalyst Technologies, ExxonMobil
Corporation
10:15 Improvements in FCC operation through controlled catalyst withdrawals
Kate Hovey, Senior Technical Service Engineer, Johnson Matthey
10:40 Morning Networking Break
11:10 Addressing hydrocracker bottlenecks through catalyst selection
Mathias Brinch-Larsen, Senior Catalyst Specialist, Haldor Topsoe
F.X Chrisnanto, Hydroprocessing Specialist, PT Pertamina (Persero)
11:35 Enhanced Residue Processing with Tailored FCC Catalytic Solutions
Christophe Chau, Marketing Manager, Refining Catalysts, Grace
12:00 Advance FCC Features to Improve Refinery Operation and Profit Margins
Raj Singh, Senior Technologist, Process Technology, Technip
12:25 Turning waste heat into new process heat
Erik Verdeyen, Chief Evangelist, Qpinch
16:30 End of Conference
Stream B
Advances in Catalysts
Chaired by: Dr. Kamalakanta Routray, Senior Research Scientist, Reliance Industries
Stream A
Efficiency and Environment
Chaired by: Selva Guru, Principal Engineer, Singapore Refining Company
THAILAND
What makes the Thai downstream sector
exciting? How can overseas suppliers and
investors access the Thai market? What
challenges are Thai operators facing?
INDONESIA
What makes Indonesia such a hotspot for
investment? Which of the announced pro-
jects will be first to come online?
Sushant Gupta, Director, Asia-Pacific
Refining, Wood Mackenzie
CHINA
Which of the many current new projects is
most exciting? Is China on its way to self-
sufficiency? How will China’s COTC pro-
jects affect the global market?
India
How is overseas investment from the
Middle East changing the Indian down-
stream sector? What’s the outlook for
future growth?
Clive Gibson, Vice President, Nexant
What’s on the Horizon? – 2020 and Beyond
14:30 PANEL
MARPOL 2020 – Last chance to talk
Panellists: Ye Lin, Refinery Specialist, Economic & Development Research Institute, SINOPEC
Sittisak Choomura, Ship Surveyor, Ship Standard Bureau, Government of the Kingdom of Thailand
Zhai Ning, Head of Trading and Investment, Sunshine Oil
Moderator: Sanjeev Gupta, Partner, EY
15:10 Innovative FCC catalyst technology and performance in usage at refineries
15:30 Electric vehicles – is the hype justified?
John Mathai, Market Development, Energy Markets Asia, Refinitiv
15:50 CLOSING PANEL
Downstream digitalisation – are Asia’s players making any headway?
Panellists: Dr. Li Jun, Project Manager, Economic and Development Research Institute, SINOPEC
Santosh Golecha, Director, Digital Products, BHGE
Selva Guru, Principal Engineer, Singapore Refining Company
Moderator: Sanjeev Gupta, Partner, EY
12:45 Interactive Country Roundtables
Created for groups of executives and engineers and focused on a specific country,
you have the opportunity to select from four roundtables the one that’s most relevant
for you. Providing a smaller but high-quality interactive platform to discuss issues in a
boardroom style format, you’ll have the opportunity to share and learn in an informal
environment that facilitates open dialogue and tangible take-aways.
09:00 IRPC’s Preparation for IMO 2020
Apirom Pongnoppa, Vice President, Technology, IRPC
09:25 KBR SDA (ROSE) enabled – high margin schemes to address IMO 2020
Samir Saxena, Chief Technical Advisor, KBR Technology
09:50 Effective sulphur recovery in the face of clean fuels, IMO & LSFO
Odette Eng, Vice President, Hydrocarbon Global Refining, WorleyParsons
10:15 SWAATS - a newer, safer way of processing acid gas more cost effectively and
environmentally friendly
Sashikant Madgula, Regional Licensing Manager, GTC Technology
10:40 Morning Networking Break
STREAM A
ADVANCES IN REFINING TECHNOLOGIES
Chaired by: Selva Guru, Principal Engineer, Singapore Refining Company
11:10 Simulation as a risk reduction tool for turnaround planning
Peter Blaser, Vice President, Engineering, CPFD
11:35 Towards Refinery of the Future (RoTF): MRCSB perspective on leveraging
digitalisation with asset integrity monitoring
Norhariti Hassan, Corrosion Engineer, PETRONAS
12:00 Better Decisions, Faster through the Practical Application of a Digital Twin
KBC
12:25 Modus Technology For Monetization Of Refinery Off Gas Streams
Steve Beeston, Vice President, Technology Licensing, Wood PLC
13.15 Lunch
6. ARTC 2019
6
Our Portfolio
March 2020
asktheexperts.wraconferences.com
15 - 17 April, Muscat, Oman
downstream-oman.com
January 2020
mertc.wraconferences.com
30 - 31 October, Singapore
www.downstream-asia.com
4 - 7 November, Warsaw, Poland
ertc.wraconferences.com
1 - 4 October, Cartagena, Colombia
lartc.wraconferences.com
If you are interested in attending, please contact Marc
marc.jones@wraconferences.com
+44 207 384 7999
www.wraconferences.com
7. 7
ARTC 2019
The IMO regulations and their impact
on the world of refining
The new IMO 2020
regulations require
a deeper processing
of refinery residues.
The world of refin-
ing is fully aware of
this, but discussions
have mainly centred
on high capex solu-
tions, not technologies with the highest
yield and the lowest capex, such as bitu-
men production by application of Biturox®
technology.
The implementation of this technology
reduces the production of high-sulphur
fuel oil (HSFO) to a minimum, and supplies
the market with a high-quality product for
road construction: bitumen.
Although this form of bitumen produc-
tion cannot process all refinery residues
like a delayed coker unit (DCU), Biturox
technology permits the processing of dif-
ferent refinery residues, such as vacuum
residue, SDA pitch, hydrocracker residue,
heavy VGO, and HCO, at different propor-
tions and optimally supplements the com-
plete residue processing at refineries. The
Biturox plant is designed according to cus-
tomer requirements and feedstock, and
expected performance is guaranteed by
lab tests using refinery product samples.
Anothermajorfactoris flexibility in terms
of feedstock, which boosts the economic
efficiency of the refinery. In fact, bitumen
can be made from so-called non-bitumen
feedstock by blowing a suitable feedstock
mixture in a controlled manner under con-
stant conditions in a continuous process.
Refiners looking for ideas for a resi-
due-free refinery can also combine a sol-
vent deasphalting (SDA Plus) plant with
a Biturox bitumen plant capable of com-
pletely converting various heavy residues
into valuable products, such as deas-
phalted oil and bitumen.
low OPEX
Low opex is achieved by an optimisation of
the Biturox plant configuration, including
heat recovery where economically feasible.
The off-gas treatment system is state-of-
the-art and meets all environmental require-
ments for off-gas (SOx, NOx, CO, PM).
Over the past 35 years, this time-proven
technology has been used in over 40 refin-
eries worldwide and produced bitumen
according to the applicable standards
based on performance, such as SHRP (US,
New Zealand, South Africa), viscosities
(India, Australia) and the traditional pen-
Vincent Frate, Pörner Ingenieurgesellschaft mbH
Biturox in practice
• Low investment costs
• High flexibility
• Complete residue processing
• Own pilot plant enables lab tests using refinery product samples
• Time-proven technology: 56 Biturox licences have been granted since 1978
• In India, the 11th Biturox plant is being built. The designed production capacity of
all 11 plants covers 80% of the national production.
New regulation for bunker oils
(IMO 2020)
In 2020, there will be significant
changes for the refining sector.
IMO 2020 defines a global limit for
sulphur in bunker oils (marine fuel) of
0.5% compared to the current 3.5%.
Up until now, refineries have
sold bunker oil (an unrefined mix
of residues and heavy gas oil) as
marine fuel at competitive prices,
whereas bitumen (a product of higher
quality requirements – about eight
specification parameters) often
obtained lower resale prices.
From 2020 onwards, it will no
longer be possible to sell plain bunker
oil profitably. This is why specialised,
small refineries in particular should
consider bitumen production.
etration/softening point system (Europe,
Middle East, larger part of Africa).
Economic outlook
Thanks to the IMO 2020 regulations, bet-
ter margins can be expected for bitumen.
One reason for this is increasing demand,
another the scarcity in certain regions.
Despite the clock ticking, a Biturox plant
can be designed, installed and commis-
sioned within just 18 months. ■
Contact: vincent.Frate@poerner.at
Biturox plant for production of 400,000 tons of road paving bitumen, Socar,
Baku/Azerbaijan, 2018
The combination of SDA Plus
and Biturox plant provides
economic concepts for a
residue-free refinery
8. 8
Through a series of interviews with Speakers, Advisors and Rising Stars finalists from our global downstream events
portfolio, we have created a snapshot of their experiences. Whether they work in strategy, research or on the ground
as engineers, our interviewees are all contributing to the growth and success of the global refining and petrochemical
industries during a time of profound and fascinating change in the sector.
EVAE ANDERSSON
Refining Industry Manager, Global Technology
Alfa Laval
NARUPAN SUTHAMKASEM
Vice President, Refinery Development
Bangchak Corporation
Q Did you always know that working in the
downstream industry was what you wanted to do? Why
or how did you decide to work in the downstream sector?
Were your family and friends supportive of your decision?
No. I got into this industry by coincidence when my company decided to increase their
focus in this market and acquired another company with their main business in this field.
This acquisition made it possible for me to combine an interesting career path with my
interest for French food, wine and culture as the company acquired was based in Paris,
where I had to move. Shortly after starting my work in the downstream industry, I realised
that my interest for the business had overtaken my interest for France! My family and
friends have never really understood my work anyway, no matter which industry I have
been in, so they were mainly excited for me to move abroad, and whether I was going to
work in the downstream industry, steel market, chemical production or any other of my
former fields of experience was less important to them.
Q It’s no secret that many women in engineering/technical industries have felt
that theirgenderhas affected how they are perceived and treated. Doyou thinkyour
experience within the sector has been different as a result of being female?
Yes, I am sure that my experience is very different compared to that of a male individual,
but absolutely not always in a negative way. Being a male or a female for sure has its
ups and downs, but most likely these ups and downs are different – not only because
of gender, but also because of personality. I am quite sure that a female engineer will
always be judged much more harshly in the beginning. We need to prove ourselves
much more, but once we have “passed the test”, I don’t see many disadvantages to
being a woman in this industry.
Q Did you always know that working in the
downstream industry was what you wanted to do? Why
or how did you decide to work in the downstream sector?
Were your family and friends supportive of your decision?
For me personally, the downstream industry is more interesting than upstream work.
When I graduated, I had the option to work as a researcher, consumer goods production
engineer, or a refinery engineer. I chose refinery, which is a downstream industry, because
it is very challenging and gave me a chance to work in the real field of a high-performance
industry. My family was worried about the nature of refinery work, which in some
instances involved climbing up high columns for equipment inspection, and shift working
during refinery turnaround maintenance periods. However, they always respected and
supported my decisions. I have found satisfaction in my choice of becoming a refinery
engineer, which I am today.
Q It’s no secret that many women in engineering/technical industries have felt
that theirgenderhas affected how they are perceived and treated. Doyou thinkyour
experience within the sector has been different as a result of being female?
Unquestionably, the gender gap still exists for women in the refinery industry. Some
works require physical endurance and physical strength that not all women have. Night
shifts may be a limitation for some of us. Most of our co-workers are men e.g. operators
and maintenance individuals. On the other hand, I believe female engineers excel as
consultants, technical advisors, planners etc. I believe my workplace, Bangchak Refinery,
respects gender diversity with a warm heart. Gender is not a limitation in Bangchak
Refinery as more women are entering the ranks as managers and more women are moving
up the corporate ladder as leaders. Women can be in the positions where their authority
and influence can have a positive and substantial impact on the future of all industries. I
hope in the future women will be more accepted in various industries of all countries.
EWELINA OLSZEWSKA
Junior Specialist
PKN Orlen S.A
Q Did you always know that working in the
downstream industry was what you wanted to do? Why
or how did you decide to work in the downstream sector?
Were your family and friends supportive of your decision?
Since I was 15, I knew that I wanted to work in the chemical industry, especially the
refinery and petrochemical industry. As a result, I focused completing chemical technical
school, followed by studies focusing on chemical technology. In the last year of my
studies, I started an internship at PKN ORLEN S.A., which was my dream, and at the
same time I started my adventure in the downstream industry. I do not regret my choices,
because I combine doing what I like with personal development. My closest family has
always cheered on my chosen goals and my friends look with admiration at my work.
Q What advice wouldyou give to women considering a career in the downstream
industry? Is there anything you wish you had known when you first started?
I encourage women to start a career in the downstream industry, because this job offers
great opportunities for development and a lot of satisfaction. In order to be satisfied with
work, you should be confident, have ambitious goals and work hard to achieve them.
Believe in yourself, because each of you is able to succeed in the downstream industry
and get to the top.
Celebrating women in the downstream industry
ARTC 2019
NAN LIU
Licensing Technology Manager, Residue
Gasification Shell Catalysts & Technologies
Q Did you always know that working in the
downstream industry was what you wanted to do? Why
or how did you decide to work in the downstream sector?
Were your family and friends supportive of your decision?
I like working in downstream because of the complexity of the integration of the units.
As a chemical engineer, it gives me a lot of satisfaction. My family supports me a lot,
although my parents don’t really understand what I do. But my husband is a chemical
engineer as well. He supports my decision of working full time and in downstream.
Q It’s no secret that many women in engineering/technical industries have felt
that their gender has affected how they are perceived and treated. Do you think
your experience within the sector has been different as a result of being female?
In general, there are fewer women around, but I didn’t feel constrained with what I
wanted to do in this industry as a female.
Q Are there any barriers that still exist for women in the industry? How do you
feel it could be more inclusive/attractive?
There are certain barriers in certain jobs, such as jobs involving a lot of travel when
women have young children. My experience is to just talk about it. Share your
constraintswithyourline managerand plan things around.Talk about itwith colleagues
who might feel a full time working mum is strange. I think in the end, people know you
as a person, not only as a female wanting to pursue a career.
Q What advice would you give to women considering a career in the downstream
industry? Is there anything you wish you had known when you first started?
One thing I would say is to reach out for help before waiting for too long. My mistake
was that I tried not to bother people with female-specific issues, such as feeling
tired during pregnancy or travel constraints. I pushed myself too hard to behave like
a man. But when I shared my concerns with colleagues and bosses, people were very
accommodating and willing to support.
9. 9
KIM JOOSTE
Group DS Production Technology &
Development VP MOL
ARTC 2019
MARTA YUGO
Science Executive
Concawe
Q Did you always know that working in the
downstream industry was what you wanted to do?
Why or how did you decide to work in the downstream
sector? Were your family and friends supportive of your
decision?
As far as I remember, I’ve always been highly concerned about the environment and
I truly believe that we, as individuals and organisations, have in our hands not only a
choice but also a responsibility to minimise the negative effects of the human impact
on our planet.
When I was moving to Brussels (where I currently live), I found an old article I wrote
when I was a little girl and it was about the potential consequences of a future planet
(something really looking like our Earth) where the natural resources were seriously
damaged due to non-sustainable development by the preceding generations. It was
quite eye-opening reading because I realised that that girl has been always inside me,
driving one of my main goals in life: to work towards mitigating climate change and
the way we optimise the use of all sources of energy. In order to be able to contribute
effectively, to really make a change, I first studied a degree in Chemical Engineering
(as the profession that may be able to improve the industrial processes in order to
minimise their energy consumption and emissions, keeping in mind how to strengthen
competiveness in a sustainable way) and afterwards I decided to focus my career on
the energy world with an MSc in Refining, Gas and Marketing, after which I started
working on energy efficiency issues for REPSOL.
Right now, I am the Science Executive in the fields of energy and CO2
in Concawe,
the European Refining Association, and I am proud of leading a new programme: the
Low Carbon Pathways. The challenges and transformational changes that both our
society and the industry will face in the future are enormous, and the EU refining
industry is ready to contribute, exploring routes to progressively integrate alternative
feedstocks in the refining scheme and reduce the CO2
emissions associated with both
our industrial sites and the use of the refining products when looking into the 2050
timeframe.
You may think that I am not an ecologist in the strict sense of the word, but I like to
think that I am achieving a little contribution to that childhood environmental aim. And
you can be sure that no matter how insignificant it may be, I feel it is worth every single
moment spent in the journey.
Q What advice would you give to women considering a career in the downstream
industry? Is there anything you wish you had known when you first started?
My dear future “colleague”: if you are considering joining this industry or you have
already started this journey, the first thing that I would like to ask you not to forget is
that we – as women – are equally intelligent, can be equally well-qualified and equally
capable to deal with technical issues as our male colleagues. But in work as well as in
life, it is not only about those hard skills, and the complementary ones can really make
a difference. And we – women – are perfectly suited to make the best combination of
both: I do really feel that women are particularly sensitive, tolerant, integrative and
able to bring all these elements to an industry which has been traditionally run by men.
So my dear “me”, the best recommendation I can give you is this: stand up, be curious
and be brave; trust in your deeper instincts and do not be afraid to express an idea,
to gently and smartly disagree. Do not be afraid to think out of the box, to show that
you have a different point of view. And above all, do not be afraid to fail. Failing also
means exploring, living! I do believe that enjoying life and work, keeping a positive and
constructive attitude, is the best way to make our little-big contribution to move this
world forward!
LUJAYN MOHAMED
Process Engineer
Bapco
Q Did you always know that working in the
downstream industry was what you wanted to do?
Why or how did you decide to work in the downstream
sector? Were your family and friends supportive of your
decision?
I always wanted to work in a unique place, somewhere combining office and field work,
with exciting challenges and away from routine. Thus, working in downstream was a
great option for me.
When I was very young I was inspired by the engineers I saw on TV. I felt that
beneath their helmets, there is so much power and respect. When I joined university,
I was inspired for the second time during my training at Bapco, as I had the chance to
visualise what I had studied on a real, bigger scale, and I had an insight into the daily
work, problems and projects. Then I was certain that this was exactly where I wanted
to be.
I come from a family full of lawyers and artists, and it was normal for them to perceive
my decision as a bit odd. My parents, however, have always believed in me; they were
always cheerful and supportive whenever I discussed my future with them. To me, this
was a great source of motivation!
Q Are there any barriers that still exist for women in the industry? How do you
feel it could it be more inclusive/attractive?
There are still some barriers related to gender-linked stereotypes. The image of
engineers and leaders is persistently masculine, and there is a common perception that
women are weak, cannot bear harsh environments and have family commitments. In the
Middle East, the culture plays another rule. Families may believe that the engineering
field is male-dominated and females should not be involved in this profession.
There should be orientation programmes directed to parents, and balanced
curriculums offered at schools and universities, to enhance women’s image in
industries. Successful stories of female engineers should be shared among students,
especially females, to attract them into this field. Moreover, since leaders are the
catalyst of change, they should put women’s advancement as a main goal for business
development. It is important for them to maintain a healthy workplace environment
and the mindset of individuals, to help sustain females in the workplace. Furthermore,
recruitment and promotions should be based on equal opportunities and merit, and
regulations and policies at work should always be monitored to ensure that females
take their full rights in competing with men.
Q What advice would you give to women considering a career in the downstream
industry? Is there anything you wish you had known when you first started?
Women in industries should work hard and prove themselves to their supervisors, to
banish the perception of women’s weaknesses. It is important for women to find good
mentors when they start working to encourage and guide them along their careers.
Moreover, they should always believe in their abilities as well as to take responsibilities
and ownership of their work.
Q Did you always know that working in the
downstream industry was what you wanted to do?
Why or how did you decide to work in the downstream
sector? Were your family and friends supportive of your
decision?
I grew up in an engineering family, although my father was in the mining industry. I
received sponsorship from Sasol to study for my Chemical Engineering degree and
that is pretty much how I ended up in the downstream sector. Engineering was not
the kind of degree a female considered in South Africa in those days and, whilst my
parents were supportive, I had the challenge of being the only female in the class, also
the only female on site for the first couple of years.
Q How have things changed within the industry during your career?
I have seen more open discussions taking place and management being more curious
about what the barriers are for women. We have a lot more graduate female engineers,
but I still see many companies struggling to retain the women past 35.
Q Are there any barriers that still exist for women in the industry? How do you
feel it could be more inclusive/attractive?
It is a LOT easier now compared to when I started, but unfortunately there are still too
many barriers, and until men start understanding and promoting the benefits of having
more women on their teams and actively talking to them to understand these barriers,
the progress towards greater diversity will remain slow.
Q What advice would you give to women considering a career in the downstream
industry? Is there anything you wish you had known when you first started?
Reach out for female mentors – ask for help when you are struggling with issues that
seem unsolvable. In spite of all the challenges I have faced, I have also had a very
rewarding career, and those knocks along the way have helped shape me into the
leader I am today. There are many challenges that downstream needs to solve in the
near future and will benefit from diverse thinking towards the solutions.
10. 10
ARTC 2019
Digital transformation continues
to be the keynote of the coming
year for operators across the oil
and gas sectors. Digitalisation
is nothing new to the sector,
of course. Refineries have, for
example, been pursuing it for more
than 30 years, with technologies
like advanced process control
Refining’s digital transformation
(APC) well established as part of the operational mix of
many operators.
What is different today is how quickly the migration
is accelerating. The trend is being led by the Asian refin-
ing industry. Organisations in India, Malaysia, Thailand,
Indonesia and China are pushing digital transformation
aggressively because they understand this can be a com-
petitive and economic advantage for them against slower
moving, traditional rivals in other regions. Refineries in
Ron Beck AspenTech
Europe must ensure they are not left trailing in the wake
of their Asian peers.
Coupled with this, we are seeing rapid growth in
machine learning, making insights about plant and equip-
ment available faster to senior decision-makers; and in
mobility, visualisation and analytics, providing simple
interfaces and insight to data and models.
The ability to examine and model data and trends rap-
idly helps operators make optimal economic trade-offs,
maximising sustainability and profit. Digitalisation also
helps them build in the flexibility to utilise assets close
to design capacities in the face of uncertain and chang-
ing product demands and economics. But perhaps the
most urgent driver is around asset reliability and the way
it can be improved through predictive and prescriptive
maintenance techniques. This is key because these tech-
nologies have huge potential across the sector, offer-
ing a better alternative to the traditional calendar based
approach to asset maintenance.
With this approach, the focus is analysing issues
known to cause a problem such as vibration in a pump or
compressor. Sonic monitors can be added to the device
and when vibration exceeds a certain level, alerts can be
sent to advise operators that remedial action is needed.
Prescriptive analytics adds a new layer of sophisti-
cation to the methodology, moving it from a product
based to a broader process based approach. In deliver-
ing prescriptive analytics, there has to be a recognition
that processes, activities and systems used in the plant
are interconnected. Prescriptive analytics looks at data
streams across these, and pinpoints sophisticated signa-
tures and patterns of data that are happening in advance
of an event.
Critically, too, the approach also tells the operator the
root cause of the problem. It can inform them not only that
the compressor is going to fail but also that its impending
failure is directly linked to the leakage of liquid into the gas
lines at a certain concentration or even just a slow change
in the pressure recorded. That effectively is the prescrip-
tive element of the approach. It not only highlights the
impending problem, it also highlights actions that can be
taken to avoid it. It is still in its infancy today, but over the
course of 2019 we expect to see the level of interest and
excitement around it gathering pace all the time.
Scoping out the results
Ultimately, though, prescriptive analytics is just one
example, albeit an important one, of the drive to digital
across the oil and gas sector. In terms of outcomes, we
see three key trends playing out across the sector as the
march to digital gathers pace. First, the nature of work will
change. As refinery and asset tasks become more auton-
omous and AI assisted, significant productivity gain can
be expected. Individuals and the businesses they work
for need to understand that the requirement for workers
will evolve. Organisations and people will need to retrain
themselves.
We also expect to see 2019 witness the continuing
roll-out of a new trend which we term here: ‘networks
of industry co-opetition’. The opportunity to seamlessly
connect elements of the value chain will give competi-
tive advantage to companies which recognise that and
can take advantage of the opportunity to build business
alliances across the value chain. Much as Amazon has
done with consumer goods shipping and delivery supply
chains, process manufacturers will do to react to market
opportunity and manufacturing and pricing challenges.
The final key trend across this sector will be around
organisational change. Knowledge automating and pow-
erful provision of data and models across refining organ-
isations will democratise the decision-making process.
The people who embrace this will make themselves more
employable while the organisations who embrace it will
be most able to achieve digital transformation in a mean-
ingful way and compete in 2019 and beyond. ■
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11. ARTC 2019
11
ods and gave high confidence in the new
equipment.
The overall sulphiding procedure and
DMDS flow rate were optimally managed
by the refinery, and the continuous indica-
tion of the H2
S concentration was particu-
larly useful:
• Anticipation of H2
S breakthrough period:
thanks to the low detection level (300
ppmv), the H2
S breakthrough (defined
as more than 5000 ppm H2
S) has been
noticed over one hour before its occur-
rence, after around six hours of DMDS
injection. Therefore, as soon as the 5000
ppmv H2
S concentration was reached, the
refinery could increase the inlet reactor
temperature from 220°C to over 300°C
and reduce the DMDS flow rate. Compared
to previous activation, the refinery saved
around one hour during this critical period
of H2
S breakthrough.
• Optimal management of DMDS injec-
tion rate after H2
S breakthrough: after H2
S
Francis HUMBLOT arkema
DID You know
ARKEMA now
provides an
in-line H2S analyser
service during
Hydroprocessing
catalyst activation?
In-line H2
S analysis during sulphiding
Real-time, in-line analysis of the H2
S con-
centration during hydroprocessing cata-
lyst activation with DMDS Evolution E2
reduces the risk of exposure to toxic gas
and helps to better manage the sulphiding
procedure.
Hydroprocessing catalyst activation is
generally performed on site, at the refin-
ery, using a sulphur chemical that is able to
decompose to H2
S at low temperature (at
200°C and above) so the metallic oxides
are smoothly and fully converted to sul-
phides. This maximises the initial catalyst
activity and catalyst lifetime.
Dimehyldisulphide (DMDS) offers the
best economical compromise in terms of
physical and chemical properties, and over
the years it has become the standard sul-
phiding agent. To ease this temporary use
of DMDS at refineries, over the last 20
years Arkema has developed a global and
integrated service, covering logistics, han-
dling and safety aspects.
Last year, in keeping with its policy of
innovation, Arkema introduced an in-line
H2
S analyser to help refiners perform the
sulphiding of hydroprocessing catalysts
with DMDS Evolution E2. During this
critical period, temperature ramp-up and
DMDS Evolution E2 flow rate have to be
adjusted, depending on the H2
S concen-
tration in the recycle hydrogen.
Traditionally, refiners manually obtain
every hour the H2
S concentration informa-
tion with H2
S reactive tubes. However, due
to the high toxicity of H2
S and the flamma-
bility of hydrogen, this measurement is a
risky operation and the refinery has to ded-
icate workforce to this task during the busy
unitstart-upperiod.Moreover,theaccuracy
of the result depends on the experience of
the operators, and a faster response anal-
ysis than every hour would be welcome to
anticipate decisions for a quicker and more
efficient catalyst activation.
Thanks to Arkema’s know-how in han-
dling this dangerous gas and its extensive
experience in hydroprocessing catalyst
sulphiding with DMDS Evolution E2, it
has designed (patent filed) an in-line H2
S
analytical tool that addresses all these
concerns:
• Accurate and continuous measurement
of H2
S concentration, from 0.03 % to 5%
• Tightly closed system, without any risk
of exposure to H2
S to workers.
The core of this equipment is a spec-
trometer that benefits from the latest
advances in electronics and signal treat-
ment to drastically improve the sensitivity
and selectivity of the H2
S determination in
a complex gas.
Equipment design and implementation
A day before the start of the catalyst acti-
vation, a full set of analytical equipment
is delivered with the current equipment
required to inject DMDS. All the electric
H2
S analyser equipment complies with one
of the most severe European ATEX certifi-
cations (EC II 2 G EExd IIC T4) and can be
implemented safely inside the hydropro-
cessing unit.
Sampled at high pressure, the pres-
sure of recycle hydrogen containing H2
S is
reduced to almost atmospheric pressure
before entering the analyser. The outlet
gas that exits the analyser is injected into
the flare network of the refinery to avoid
any atmospheric release. All gas connec-
tions are achieved with high-pressure
hoses and quick couplings for a fast and
safe implementation.
Safety aspects of this design have
been checked and approved by all major
European refiners, and no accident has
been reported since the launch of this
service.
Case study
In May 2017, a Western Europe refinery
had to change 350 MT of hydrocracking
catalysts due to normal catalyst deactiva-
tion, and it ordered 73 MT of DMDS for
its in-situ catalyst sulphiding. This DMDS
amount represents a 45% contingency
compared to the stoichiometric amount
of DMDS (50.4 MT) required to convert
metallic oxides to sulphides. This level of
contingency is a usual practice for refin-
eries that want to be able to manage any
event during the activation process with-
out being limited by DMDS availability.
Arkema includes this delivery flexibility in
the Carelflex service package.
Figure 2 represents with injection time
the DMDS flow rate and the H2
S con-
centration continuously measured by
the in-line analyser. Since it was the first
time this refinery had used such equip-
ment, reactive tubes were used four
times to confirm the H2
S concentration
indicated by the analyser. An excellent
match was obtained with the two meth-
breakthrough, the refinery has to keep a
minimum H2
S concentration (2000 ppmv)
to prevent the catalyst from irreversible
reduction with hydrogen, and the refinery
also wants to avoid high concentrations of
H2
S (>30 000 ppmv) because of potential
damage to the metallurgy and the recycle
compressor. However, H2
S concentration
stabilisation at typically 10 000 ppm is not
as easy, because H2
S results from the bal-
ance between catalyst consumption (full
conversion of metal oxides to sulphides) and
H2
S formation, either from DMDS or from
sulphur species in the feedstock. Hence, a
continuous measurement of H2
S concen-
tration and its rate of decrease or growth is
helpful to decide when and how much the
DMDS flow rate needs to be adjusted.
Figure 2 illustrates this careful optimisa-
tion process on the DMDS flow rate during
the sulphiding operation of a hydrocracking
unit: after H2
S breakthrough, H2
S concen-
tration in recycle hydrogen has been kept
between 8000 and 15 000 ppm thanks to
several DMDS flow adjustments. This mon-
itoring has another benefit: it minimises the
excess of DMDS used forthe activation and
leads to some significant economical sav-
ings. For this hydrocracking unit activation,
53.2 MT of DMDS was finally consumed,
which is only 6% above the stoichiometric
sulphur amount of the catalysts.
• Valuable information to stop injection and
disconnect DMDS equipment: once more
than the stoichiometric amount of DMDS
is injected, how can you be sure the cata-
lyst is fully sulphided? A convenient test is
the following: DMDS injection is held for a
while and H2
S is observed; since a fresh
feedstock containing sulphur is continu-
ously introduced, the H2
S concentration in
the recycle hydrogen should increase due
to the conversion of sulphur compounds in
H2
S by the catalyst and no further H2
S con-
sumption by the fully activated catalyst.
Figure 2 is an interesting demonstration of
this test: DMDS injection was stopped after
18 hours and at first H2
S stabilised for two
hours before increasing sharply. This test
can be achieved safely and effectively
thanks to the in-line H2
S measurement.
Conclusion
The Arkema analyser has been used for
monitoring H2
S in the recycle hydrogen
of hydrocrackers units, gas oil hydrodes-
ulphurisation units and naphtha hydro-
treaters. This new service brings several
advantages:
• Safe equipment: workers have never
been exposed to any H2
S leak
• High reliability and accuracy: H2
S con-
centrations from the in-line analyser have
always been in line with other analytical
methods (reactive tubes, online gas chro-
matography and so on)
• A useful tool to better manage the cat-
alyst sulphiding operation according to
catalyst manufacturer procedures and
guidelines: the continuous H2
S indica-
tion helps to anticipate DMDS flow rate
changes, minimising DMDS consumption
and sulphiding time significantly. ■
Contact: francis.humblot@arkema.com
Figure 1 Arkema’s H2
S analyser implemented on site
5000
6000
4000
3000
2000
1000
DMDSflowrate,kg/h
0
0 2 4 6 8 10 12 14 16 18 20 22
Injection duration, h
10000
12000
8000
14000
16000
18000
20000
22000
24000
6000
4000
2000
H2S,ppmv
0
DMDS flow rate
H2S Drager tubes (refinery)
H2S
Figure 2 DMDS flow rate and H2
S concentration with time
12. ARTC 2019
12
Residue conversion enhances the pulse of
Asia-Pacific refining
Refining margins in
Asia Pacific were
impacted at the end
of 2018 by crude oil
pricing volatility, with
yearly record highs
at the beginning of
Q4 2018, before a
sharp decline at year
end. The availability of opportunity crudes,
imports of US shale oils, and light oils have
also influenced the crude diet of several
refineries in the region which are geared
towards producing gasoline. In early 2019,
the demand growth slowed compared to
refinery supply growth, with new refineries
coming on stream in China, Malaysia, and
Vietnam to name a few. A relative slowdown
in the economy, and a relative oversupply
of light distillates (with lighter feedstocks,
higher yields of LPG, gasoline, and naphtha
have been produced), have driven gasoline
cracks down.
In the context of relative fuel oversupplies
and low operating margins, some operators
have chosen to reduce temporarily through-
put, for example, in Japan. The maintenance
season peaking in April 2019 is expected
to give some relief to the refining market
balance with ~2.3 MMbpd of crude distilla-
tion capacity to be shut down, as
well 365,000 bpd of fluid catalytic
cracking (FCC) capacity. Looking
ahead, net refining capacity addition
(grassroot projects and expansion) is
projected1
to reach 4.9 MMbpd glob-
ally from 2017 to 2025, with most
of the incremental production in the
Asia Pacific region – besides Middle
East – which may affect further the
supply/demand balance.
Petrochemical demand is strongly
fuelling demand growth in Asia. A
propylene gap remains, despite pur-
poseful propylene production. Large-
scale, integrated complex projects,
with aromatics and light olefins pro-
duction, as well as crude-to-chemi-
cals plants, will generate enhanced
trade flows of products in the region
and accelerate the pulse of the refin-
ing and petrochemical industry.
Converting residue into propylene is
a strong asset which will increase operating margins and
benefit from the propylene demand in Asia.
Converting residue feedstocks into added value
The upcoming IMO 2020 regulations on marine fuels will
further drive refiners to convert residue to more valuable
products, such as mid-distillates, at better product mar-
gins (Figure 1), with a switch in demand expected from
high sulphur marine fuel oils to low sulphur fuels.
Processing residues and opportunity feedstocks con-
stitutes a great opportunity for operators of resid FCC
units to drive incremental profits. As global markets are
facing some over-supply of light distillates, adding value
to the FCC product slate can be optimised by increas-
ing middle distillates as well as propylene, depending on
the product pricing and market dynamics. The ability of
the refinery to shift production from gasoline to gasoil by
deeper bottoms upgrading and leverage product pricing
and crude oil sourcing for enhanced profitability will be
the differentiator in volatile market conditions.
To adapt to this volatility, continuous optimisation of
FCC operations with tailored catalyst formulations is a
winning approach to drive higher-value products. In a
refining landscape that is expanding with new projects,
raising the bar of competitivity and profitability, refiners
can rely on operating assets with an optimised crude oil
sourcing strategy and a combined optimisation of FCC
operation and FCC catalyst formulation. ■
1 WoodMackenzie. Products market outlook data – Jan 2019
Contact: christophe.chau@grace.com
EU_A4_17_DMDS_01.indd 1 09/06/2017 15:44
Christophe CHAU Grace Products (Singapore) Pte. Ltd
Figure 1
Capability
in residue
upgrading
into higher
margin
products will
drive refiner’s
profitability
(RON 95
Gasoline -
GO: Gasoil
– FO: Fuel
oil, viscosity
180 or
380cSt)
Singapore-
Dubai crack
spreads
(*) 2019
forecasts
2 col
130mm
20
10
0
Crackspread,$/bbl
-10
2015 2016 2017 2018 2019*
GO 2500ppm S FO 180cSt FO 380cStDiesel 10ppmwt SRON 95
13. ARTC 2019
13
In the coming years, several countries in
South East Asia will implement Euro V
emission regulations. This includes meet-
ing the limit of 10 ppm sulphur in the die-
sel product. For the refiners that means
re-evaluating their choice of unit catalyst
to ensure optimal performance in regards
to cycle length and planned turnarounds,
operational procedure, and meeting the
new product specifications.
There have been tremendous improve-
ments in catalyst technology over the past
20-30 years to comply with ultra-low sul-
phurfuellegislationandtomaximiseproduc-
tion of high-value hydrocracking products.
However, jet and diesel refiners are still
looking for the absolute top tier NiMo cata-
lyst for their ultra-low sulphur diesel (ULSD)
and hydrocracker pretreat reactors.
Topsoe’s newly launched catalyst,
TK-6001 HySwell™, commences a com-
pletely new era within alumina-supported
hydrotreating catalysts by maximising
activity for nitrogen removal and conse-
quently achieving higher volume swell.
Higheractivity,samestability
When applying TK-6001 HySwell in either
ULSD or hydrocracker pretreatment ser-
vice, the improved activity can be utilised
to treat more severe feeds or obtain longer
cycle lengths. In the case of a hydrocracker,
the additional activity can also be used to
lower the nitrogen slip from the pretreat
section to the cracking section, resulting
in higher conversion and better yields. The
catalyst will also increase volume swell
due to better hydrogenation functionality,
A new generation of catalyst is born: TK-6001 HySwell
thereby creating a significant economic
driver for many refineries by producing
more valuable barrels.
Casestudy
The pretreatment stage in a hydrocracker is
a fixed bed catalytic process implemented
with the primary objective of reducing the
feed organic nitrogen compounds from
typical levels of 500-2000 wtppm nitro-
gen down to 10-30 wtppm nitrogen in the
reactor effluent. Nitrogen compounds have
a significantly negative influence on the
cracking functionality of the acidic hydroc-
racking catalysts and consequently on the
performance of the hydrocracker.
When applying TK-6001 HySwell to a
vacuum gas oil (VGO) at hydrocracker pre-
treatment conditions, the nitrogen slip
from the test unit with TK-611 HyBRIM™
is 32 wtppm, while TK-6001 HySwell is
able to lower the feed nitrogen to as little
as 5 wtppm. Such a substantial difference
represents a step-out improvement for any
hydrocracker pretreat unit.
Conclusion
TK-6001 HySwell technology offers a
hydrotreating catalyst solution to refiners
with high-pressure ULSD units and hydro-
cracker pretreaters. The higher activity of
this catalyst compared to the second gen-
eration TK-611 HyBRIM catalyst unlocks
additional flexibility to meet tighter regu-
Kiki L Larsen and Jack H Carstensen Haldor Topsoe A/S
lations, obtain longer catalyst cycles, more
throughput, better product qualities, and
the possibility of processing more severe
feedstocks.
The activity boost can be translated into
significantly lowering the reactor tempera-
ture in hydrocracker pretreating units and
ULSD units, while simultaneously obtain-
ing the same conversion of sulphur and
nitrogen.
The enhanced hydrogenation ability from
TK-6001 HySwell will provide refiners with
higher volume swell at similar conditions
and increased flexibility from the hydroc-
racker, resulting in substantially greater
profitability for the refinery asset. ■
D-waxTM
, HySwellTM
and HyBRIMTM
are all
trademarks of Haldor Topsoe
Contact: pz@topsoe.com
Test conditions (VGO feed)
Feed sulphur 1.91 wt%
Feed nitrogen 1500 wtppm
Density 0.9206
Pressure 140 barg
Temperature 359°C
Figure 1 Performance comparison of TK-611 HyBRIM with TK-6001 HySwell in hydrocracker pretreatment service
2 col
130mm
1 col
63mm
3 col
200m
DATUM
0
20
15
10
5
35
30
25
Productnitrogen,ppm
0
5.1
32.4
TK-611
HyBRIM
TK-6001
HySwell
2 col
130mm
1 col
63mm
DATUM
0
200
150
100
50
350
300
250
Productsulphur,ppm
0
70.2
195
TK-611
HyBRIM
TK-6001
HySwell
1 col
63mm
DATUM
0
0.880
0.878
0.876
0.874
0.886
0.884
0.882
ProductSG
0.872
0.8767
0.8837
TK-611
HyBRIM
TK-6001
HySwell
The dichotomy of the energy landscape
The future of the energy land-
scape is quite diverse and uncer-
tain in some areas, but it is clear
that the world will be facing a dual
challenge: fulfilling the thirst for
energy from oil and gas by grow-
ing economies, as well as assess-
ing and responding to the impact of
low carbon economies. The world
energy landscape seems to be divided in a dichotomy of
OECD and non-OECD countries.
The fastest growing economies in the last decade or
two have been the non-OECD countries, which are also
the largest energy consumers. Due to the lack of oil and
gas resources, countries such as China and India used raw
material and resources which are first accessible to supply
their economies and feed manufacturing growth. In order
to sustain these economies, which have been growing at
5-8% a year, coal and heavy oil have been the materials of
choice for power generation and transportation fuel manu-
facturing, thanks in part to their low cost. But that choice
comes with a price: China, India, and neighbouring coun-
tries are facing significant pollution problems.
In May 2017, the National Geographic reported that ~1
million people per year are thought to die from pollution in
China. This type of statistic is one reason why the coun-
try is establishing much tougher regulations to clean up
the air, while also significantly investing in solar and wind
Odette Eng Advisian
2 co
130
DATUM
0
100 97.2
23.2
111.7
-8.7
50
0
Growth,MMBPD
-50
Total in 2017 Non-OECD
gain
OECD loss Total in 2040
Source: OPEC
power projects. Additionally, many countries in
Asia and the Middle East are now turning to tighter
transportation fuel specifications of Euro 5 or Euro
6, across various time lines. The real question is
whether these changes are too little, too late, con-
sidering the continually growing demand for oil and
gas in high growth economies.
Conversely, while the OECD countries have much
lower GDP growth coupled with a deceleration of
hydrocarbon-based energy demand, they have other
worries. Will the manufacturing of transportation
fuels continue to be sustainable in the long term? Is there a
peak in demand on the horizon?
The combination of new technologies in car manufactur-
ing, the advances in renewable energy production, and new
or updated regulations, all impact the future energy land-
scape. Car manufacturers have made tremendous progress
increasing fuel efficiency, thereby reducing fuel consump-
tion per mile driven. By the end of 2018, ten countries in
Europe had announced plans to ban all future production of
new cars with Internal Combustion Engines (ICE). Mandates
for renewable fuel mixes and incentives for other renewa-
ble energy production have also played a part in the reduc-
tion of demand for hydrocarbons. OPEC recently produced
the following forecast for 2040, starting with a base line
oil demand of 97 MMbpd in 2017. By 2040, an additional
demand of 23.2 MMbpd is forecasted for non-OECD coun-
tries, while a demand loss of 8.7 MMbpd is predicted for
OECD countries, bringing the grand total to 111.7 MMbpd.
Other scenarios speculate that a larger demand loss could
occur sooner than 2040, based on the hypothesis that
technological breakthroughs could occur more quickly than
anticipated. If this happens, then the demand for oil and gas
in the manufacturing of transportation fuels could also reach
its peak sooner. Currently, refiners in OECD countries are
searching for answers on how to retool their assets to pro-
duce renewables and non-combustibles, whether in the pet-
rochemicals, chemicals, lubes, or asphalt production.
In the end, it is clear that the current dichotomy of the
energy landscape is putting more pressure on refiners from
both ends. On the one hand, the goal is to grow rapidly and
seize the window of opportunity for high demand in one
region. On the other, it is to make careful, strategic moves
to diversify the future in others.
Contact: Odette.Eng@advisian.com
14. ARTC 2019
14
Published by
Crambeth Allen Publishing Limited
Publisher of PTQ & DigitalRefining.com
Business Development Director
Paul Mason
Tel: +44 (0)844 5888 771
sales@petroleumtechnology.com
Managing Editor
Rachel Storry
production@petroleumtechnology.com
Graphics Editor
Rob Fris
graphics@petroleumtechnology.com
PTQ is the industry-leading
magazine covering developments in
the refining, gas and petrochemical
processing industries.
Register to receive your
regular copy of PTQ at
www.eptq.com/register
2017
Supplement to PTQ
revampsptq
catalysis
2017
ptq
cover and spine copy 10.indd 1
22/02/2017 16:14
gas
2017
PTQ suppleme
nt
gas cover.ind
d 1
27/02/20
17 17:11
SPECIAL FEATURES
HEAT TRANSFER & FLUID FLOWMASS TRANSFER & SEPARATION
REFINING
GAS PROCESSINGPETROCHEMICALS
PETROLEUM TECHNOLOGY QUARTER
LY
ptq
Q2 2017
cover and spine copy 27.indd 1
09/03/2017
17:02
Nowadays, the gas-
oline economy still
prevails in most
markets. The US
market has been
favouring gaso-
line yields for a long
time. Even in the
Indian refining mar-
ket, where petrochemicals have been in
strong focus, gasoil or resid feed still need
to be cracked to gasoline before they are
further converted to LPG. As is well known,
the FCC reaction system is highly compli-
cated. Basically, the ability to crack diesel
range molecules into the gasoline fraction
is defined as conventional cracking activ-
ity, which is most facilitated by Y zeolite,
while cracking of the bottoms fraction into
diesel range molecules mostly occurs on
the matrix.
HCpect (Qingdao Huicheng Environ-
mental Technology) has been focusing on
improving both matrix and Y zeolite activ-
ity, to create value for refining custom-
ers, all while maintaining or improving coke
selectivity. The Y synthesis and treatment
have been optimised to offer improved
activity, while the treatment of non-frame-
work aluminum improves coke selectiv-
ity. On matrix technology, HCpect has a
combinatorial system using compensating
natural clays to form a desirable pore size
structure. Moreover, the clay and specialty
alumina complement each other for opti-
mised pore size distribution. Both tech-
nologies were deployed in a commercial
trial in a Sinopec refinery. For a fair com-
parison, both the current and incumbent
catalyst were without metal trapping tech-
nology, despite notable levels of metals on
the Ecat.
The FCC unit’s throughput is 28,000
bpd with a dual reaction zone design. The
secondary reaction zone promotes hydride
transfer and isomerisation reaction to
reduce olefin content in the gasoline prod-
uct. The catalyst inventory was 380-400
tons and the catalyst addition rate 3.0 ton/
day. During the otherwise smooth trials,
without major operating disruptions or cut
point shifts, the feed API density was con-
sistent at 21.2±0.6°. The combined Ni+V
content on the Ecat was approximately
4000 ppmw, with an uptick toward the end
of the second trial.
Tie-Pan Shi HCpect
Activity still key for FCC catalyst to improve
profit margin
92
94
80
78
76
74
72
Conversion,wt%
Inventory,%
70
Time, dates
50
40
30
20
10
0
Inventory
Conversion
Inventory
LPG+Gasoline
2 col
130mm
1 col
63mm
DATUM
0
92
80
78
76
74
72
LPG+Gasoline,wt%
Inventory,%
70
Time, dates
50
40
30
20
10
0
2 col
130mm
1 col
63mm
3 col
200mm
DATUM
0
8
6
4
Slurry,wt%
2
74 76 78 80
Conversion, wt%
Traditional
matrix
Improved
matrix
Incumbent
catalyst
Figure 1 Improved conversion by 1.8 wt% with increased inventory replacement of
HCpect catalyst
The conversion showed a 1.8 wt%
increase when significant inventory was
replaced with HCpect catalyst (while far
from an ideal catalyst inventory replace-
ment, hereby comparison was done at
≥20% vs ≤20% inventory replacement lev-
els), as shown in Figure 1. Small amounts of
ZSM-5 additive were used throughout the
trial. To eliminate the artefacts of the incon-
sistent addition of ZSM-5, the combined
weight yield of LPG and gasoline is shown
in Figure 2, where an average increase of
1.7 wt% was evident. Shown in Figure 3
is the slurry yield comparison against con-
version. The new matrix showed improved
slurry yield and selectivity when compared
to the catalyst with traditional matrix and
the incumbent catalyst.
Overall, the value creation through activ-
ity and bottoms cracking improvement still
proved pivotal to the bottom line of the
FCC optimisation. In this trial, the profit
margin was improved by $1.13/bbl at cur-
rent inventory replacement level. This
margin can be further improved when the
catalyst replacement reaches the ideal
70-80% level, primarily due to improved
activity through bottoms cracking and Y
zeolite cracking. ■
Contact: tpshi@hcpect.com
Figure 2 Improved LPG+Gasoline yield by 1.7 wt% with increased inventory replacement
of HCpect catalyst
Figure 3 Improved matrix resulted in lowered slurry yield and selectivity than the
incumbent and the catalyst with traditional matrix
15. 15
4 – 7 November 2019
Hilton Warsaw, Poland
The single largest gathering of refining and
petrochemical leadership within Europe
The deadline for this year’s Call for
Papers is Monday 15th April.
We are calling for papers in these topics:
• Refining-Petchem Integration and New Routes to
Olefins
• Refinery Configuration and Conversion Technologies
• Big Data, Internet of Things and Cyber Security
• Clean Fuels, Biofuels & Alternative Fuel Production
• Catalyst Technologies
• Digitalisation Technologies
• Operational Excellence, Process Optimisation & Margin
Improvement
• Energy Efficiency & Environmental
• Increasing Petrochemical Production
• Global Demand & the Role of Refineries in the Energy
Transition
Submit your abstract to
become a Speaker at ERTC
Visit our website:
ertc.wraconferences.com
for more information on how to submit
your abstract and the guidelines.
16. 16
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