PTQ Q2 2024 Issue

Resilience and innovation In conclusion, the mid-sized refinery’s strategic journey represents a delicate balance between profitability, envi - ronmental commitments, and technological advancements despite facing numerous challenges. Through Project Catalyst, the refinery addressed opera - tional deficiencies while optimising energy usage and man - aging talent. These initiatives set the stage for the refinery’s long-term success. By incorporating no or low Capex solu - tions, the refinery not only improved immediate perfor - mance but also laid a foundation for sustained success. The simultaneous execution of the One Foot in the Present and One Foot in the Future workshops via Project Horizon 2050 demonstrated the refinery’s ability to bal - ance financial viability with energy transformation. The adoption of cutting-edge technologies, such as the IP3EM model and the proprietary Visual MESA Energy Optimizer, showcased the refinery’s commitment to precision and efficiency. With a phased emissions reduction strategy and initiatives like green hydrogen production and digital tools, the refinery is set to meet net zero global commitments by 2050 and position itself as a leader in sustainable energy practices.

2 Worrell, E., & Galitsky, C. (2005). Energy efficiency improvement and cost saving opportunities for petroleum refineries. U.S. Department of Energy Office of Scientific and Technical information. Retrieved from https://www.osti.gov/biblio/862119 3 International Energy Agency. (2020). The Oil and Gas Industry in Energy Transitions – Analysis. Retrieved from https://www.iea.org/ reports/the-oil-and-gas-industry-in-energy-transitions 4 McGurty, J. (2022). Fires, outages and storms boost US refining mar - gins. Retrieved from https://www.spglobal.com/commodityinsights/ en/market-insights/latest-news/oil/092622-refinery-margin-tracker- fires-outages-and-storms-seen-boosting-us-margins 5 Dickson, D. (2021). The future of work in oil and gas | Deloitte Insights. Retrieved from https://www2.deloitte.com/us/en/insights/ industry/oil-and-gas/future-of-work-oil-and-gas-chemicals.html Aleix Carrillo is the Global Energy Transition Technology Solutions Leader at KBC (A Yokogawa Company). With more than 17 years of experience in the oil and gas industry, he brings value to KBC custom - ers through digital solutions, consulting services and software applica - tions for process, energy, and emissions optimisation. Duncan Manuel serves as the Regional Head of Business Development at KBC (A Yokogawa Company). He helps clients define how they can leverage KBC’s SMEs, technology, and consulting capabilities to address strategic and operational goals, whether they relate to cost and efficiency and/or focus on the delivery of net zero goals. Michelle Wicmandy is the Marketing Campaigns Manager at KBC (A Yokogawa Company) in Houston, Texas, with more than 20 years of experience in marketing and communications. She serves on the Forbes Communication Council and has contributed to both academic and trade publications. She holds a DBA in business administration.

Visual MESA Energy Optimizer is a mark of KBC.

References 1 Bousso, R. (2021). Oil firms face workforce crunch as renewables beckon – survey. Reuters. Retrieved from https://www.reuters.com/ markets/commodities/oil-firms-face-workforce-crunch-renewables- beckon-survey-2021-11-30/

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PTQ Q2 2024

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