Refinery operators urged to focus on efficiency for resilience

Citing recent reports from Boston Consulting Group, Aggreko pointed to a significant predicted drop to rises in sector demand from the 3.3% increase achieved over the past decade to an expected 3% growth over the next 10 years.

Sector leader for petrochemical and refining at Aggreko Europe South, Gilles Revial, called for priority to be placed on achieving efficiency gains on site, in order for firms to remain competitive and resilient to external threats.

He said: “With slowing demand, high energy costs, and major shifts in the market, the petrochemicals sector is currently facing one of its greatest challenges to date. The industry we know today will not be the same as the one we will see in 10 years’ time, so it is critical that businesses take effective steps to remain competitive throughout this period of change. 

“The first port of call here should be to look inwards towards your own operations, and identify where efficiency gains can be made. Increasing productivity among both staff and assets is the cornerstone of competitiveness, especially when operating on the global stage.”

Aggreko’s own latest research report for the petrochemicals industry, Process Matters surveyed 604 process engineers across Europe and revealed that the cost of running power equipment has risen by 25% on average across the continent, with 59% of respondents stating that reducing the energy consumption of said equipment was ‘high priority’.

Its recommendations included right-sizing power equipment and using remote monitoring to optimise energy usage, as well as outsourcing low-carbon sustainable technologies and methods designed to help businesses make sustainable switches.

Gilles added: “While the petrochemical industry is undoubtedly entering a period of uncertainty, the good news is that through a bit of innovative thinking, there remain routes through which refinery operators can weather the storm.