Overcoming the COVID-19 crisis in Petrochemicals - Part 2
Posted: May 21, 2021
In the Part 1 of this blog, we discussed:
- The uncertainty of the petrochemical sector outlook;
- How to handle the market dynamics through increasing the Digital Maturity of your company;
- The first steps to create a digital foundation in your operations to drive intelligence across the business.
Previously we saw that cracker optimization provides a significant investment return, and it´s a good starting point to increase digitalization. However, to see your benefits grow exponentially, you need a well-designed digital roadmap that includes all the value chain elements. Many ethylene crackers have the flexibility to achieve feedstock optimization, including the selection, inventory, and blending of feedstocks. The scope can be expanded, adding ethylene and propylene purchases and sales to the external market to this same optimization problem.
Depending on plant operating conditions and market variations, the benefits of a single point optimization application are constrained. Thus to ensure the maximum return, it´s required a unified solution that orchestrates all aspects of the value chain (planning, scheduling, operations, and optimization), breaking down silos to unlock hidden values and reach the highest profitability.
Read the ebook Value Chain Optimization for Petrochemicals
If you want to know your company´s level of Digital Maturity, take a free assessment.
AVEVA has the industry´s only unified supply chain enterprise application. Aligned with planning and scheduling strategies, customers can count on order and movement management, blending optimization, and online control. Profitability is then boosted by process and utility optimization based on real-time economic and rigorous process modeling. Our Petrochemical Value Chain Optimization solution creates collaboration and knowledge sharing resulting in more robust decision making. The effective economic benefits of value chain optimization can be up to $25 million per year for a typical ethylene plant (1 MMT/Yr capacity).
Register for the on-demand webinar: Value Chain Optimization for Ethylene Production to learn about how a collaborative value chain optimization system that incorporates and integrates known applications provides the highest returns on investments and plant profitability.