Released January 13, 2022 | SUGAR LAND
en
Written by John Egan for Industrial Info Resources (Sugar Land, Texas)--The old saying, "Garbage in, garbage out," has never been truer, or more expensive, than in today's global Petroleum Refining market, where there is a dizzying number of crude oil inputs and product yields. Margins fly up and fall down based on numerous local factors, including plant outages, new-build additions, plant retirements, environmental regulations and product demand.
Adding to the chaos for traders, marketers and operators is the industry's brain drain, in which legions of experienced hands have called it quits, helped along by wave after wave of COVID-19 outbreaks. The lost institutional knowledge may be incalculable, but companies know it when they feel it.
Having said that, a strategic partnership between IIR Energy and Refinery Calculator Incorporated (Refinery Calc) (Houston, Texas) provides market participants with a powerful, easy-to-use platform to navigate the global refining market: the Global Refining MarketIntel Platform (GRMI). This platform is a much-needed tool to replace the institutional knowledge that has been lost.
Representatives of IIR Energy and Refinery Calc will provide introductions to this platform at an important upcoming energy trade show: Argus Media Group's Argus Americas Crude Summit, on January 24-25 in Houston.
"By building on the demonstrated respective strengths of IIR Energy and Refinery Calc, we are taking something that is very complex -- the global refining market -- and providing users with a fast, powerful, easy-to-use refining linear programming (LP) optimization tool," said Rommel Oates, founder and chief executive at Refinery Calc. "Plus, we're the only platform that utilizes IIR's research, data and intelligence that ties it into a real-time, cloud-based, refining LP optimization platform, which means it's faster and easier to build and modify assumptions that quickly respond to changing conditions."
The GRMI platform creates value in three ways:
Petroleum refiners have experienced unprecedented levels of volatility in recent months: smaller, older, less-efficient plants in Europe have been closed; new, highly efficient mega projects in Asia have come online; and refiners have had to change their product and crude slates in response to environmental regulations. Some refiners are converting some or all of their capacity to produce renewable diesel. Each successive variant of COVID-19 cut into demand and margins. And government officials and investors continue to press refiners to decarbonize.
The GRMI helps operators, traders and marketers make better decisions regarding crude oil inputs and product slates. Optimized decisions lead to higher profitability.
"If you're in or around the refining business, you need this indispensable tool," Copello said.
The IIR Energy-Refinery Calc platform is developed for:
Oates encouraged attendees at the Argus Americas Crude Summit to stop by the companies' booth for a no-obligation introduction to the platform. Those who cannot attend the event can learn more by sending a note to iirteam@iirenergy.com.
About Us
Refinery Calculator Incorporated has more than two decades of experience developing optimization software for the Refining industry. Our software refines complexity into easy-to-use solutions that create value for our diverse client base. Our proprietary and rigorous techno-economic refinery simulator can be configured for any refinery in the world. By performing thousands of complex simulations over the cloud at lightning-fast speeds, we have become our clients' go-to partner when it comes to understanding many variables and factors that impact global refineries and petrochemical facilities.
A unit of Industrial Info Resources, IIR Energy provides real-time, supply-side global market intelligence for the commodity-trading community, including physical and financial traders, investors, analysts and asset owners. Energy asset infrastructure and production intelligence is now more important than ever for predictive modeling. Having a resource you can rely on for quality market intelligence through primary research is key to profitable trading. IIR Energy is the source for traders when it comes to real-time knowledge of offline events for power generation stations, oil and gas pipelines, terminals and production facilities, as well as petrochemical and petroleum refineries.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn.
Adding to the chaos for traders, marketers and operators is the industry's brain drain, in which legions of experienced hands have called it quits, helped along by wave after wave of COVID-19 outbreaks. The lost institutional knowledge may be incalculable, but companies know it when they feel it.
Having said that, a strategic partnership between IIR Energy and Refinery Calculator Incorporated (Refinery Calc) (Houston, Texas) provides market participants with a powerful, easy-to-use platform to navigate the global refining market: the Global Refining MarketIntel Platform (GRMI). This platform is a much-needed tool to replace the institutional knowledge that has been lost.
Representatives of IIR Energy and Refinery Calc will provide introductions to this platform at an important upcoming energy trade show: Argus Media Group's Argus Americas Crude Summit, on January 24-25 in Houston.
"By building on the demonstrated respective strengths of IIR Energy and Refinery Calc, we are taking something that is very complex -- the global refining market -- and providing users with a fast, powerful, easy-to-use refining linear programming (LP) optimization tool," said Rommel Oates, founder and chief executive at Refinery Calc. "Plus, we're the only platform that utilizes IIR's research, data and intelligence that ties it into a real-time, cloud-based, refining LP optimization platform, which means it's faster and easier to build and modify assumptions that quickly respond to changing conditions."
The GRMI platform creates value in three ways:
- IIR Energy's unparalleled global refinery plant-level data, including scheduled and unscheduled outages, new-build additions, plant retirements and refinery configurations (input and outputs)
- Refinery Calc's market-leading analytics, simulation and optimization capabilities, which allows users to customize their inputs and product slates to optimize operations and profitability
- Filling the industry knowledge void created by widespread staff retirements and illnesses driven by the variants of COVID-19.
Petroleum refiners have experienced unprecedented levels of volatility in recent months: smaller, older, less-efficient plants in Europe have been closed; new, highly efficient mega projects in Asia have come online; and refiners have had to change their product and crude slates in response to environmental regulations. Some refiners are converting some or all of their capacity to produce renewable diesel. Each successive variant of COVID-19 cut into demand and margins. And government officials and investors continue to press refiners to decarbonize.
The GRMI helps operators, traders and marketers make better decisions regarding crude oil inputs and product slates. Optimized decisions lead to higher profitability.
"If you're in or around the refining business, you need this indispensable tool," Copello said.
The IIR Energy-Refinery Calc platform is developed for:
- Energy traders
- Crude oil traders
- Refined product traders
- Analysts, consultants and bankers
- Economic and planning engineers
- Industrial gas suppliers
- Supply chain professionals
Oates encouraged attendees at the Argus Americas Crude Summit to stop by the companies' booth for a no-obligation introduction to the platform. Those who cannot attend the event can learn more by sending a note to iirteam@iirenergy.com.
About Us
Refinery Calculator Incorporated has more than two decades of experience developing optimization software for the Refining industry. Our software refines complexity into easy-to-use solutions that create value for our diverse client base. Our proprietary and rigorous techno-economic refinery simulator can be configured for any refinery in the world. By performing thousands of complex simulations over the cloud at lightning-fast speeds, we have become our clients' go-to partner when it comes to understanding many variables and factors that impact global refineries and petrochemical facilities.
A unit of Industrial Info Resources, IIR Energy provides real-time, supply-side global market intelligence for the commodity-trading community, including physical and financial traders, investors, analysts and asset owners. Energy asset infrastructure and production intelligence is now more important than ever for predictive modeling. Having a resource you can rely on for quality market intelligence through primary research is key to profitable trading. IIR Energy is the source for traders when it comes to real-time knowledge of offline events for power generation stations, oil and gas pipelines, terminals and production facilities, as well as petrochemical and petroleum refineries.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn.
