Solomon plans to launch a new metric in the 2020 Worldwide Fuels Refinery Performance Analysis (Fuels Study) and Worldwide Paraffinic Lube Refinery Performance Analysis (Lube Study). This metric will allow refiners to compare the efficiency of energy supplied to the refinery alongside the traditional assessment of the energy efficiency of the refinery process units using the Energy Intensity Index™ (EII®) metric, a familiar and established industry-leading metric of comparative performance for a refinery’s energy consumption within similar facilities.
As managing carbon emissions becomes increasingly important, refiners are investing in:
- Improving energy consumption efficiency to reduce carbon emissions
- Shrinking the carbon footprint of power supply facilities by using such things as solar and wind power
- Minimizing the carbon footprint of steam supply by applying such things as cogeneration and production from biowaste
National power infrastructures are also moving to lower carbon emission systems. However, not all are moving at the same pace. The new metric will recognize the impact of these low-carbon energy sources at the site, region, or country levels. At the same time, it doesn’t lose sight of the consumption-side efficiency of refinery process units, which refiners understand is the key for long-term carbon reduction worldwide.
Solomon and its clients have long recognized the importance of monitoring and tracking both the supply of energy to the refinery and the refinery energy consumption on a like-for-like basis, not just for profitability but for the wider environmental benefits to the globe. This new energy metric will allow Solomon’s clients to continue to monitor and make improvements in these key areas.