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he oil markets in recent years
have been characterized by a By integrating refining with petrochemicals
sustained drop in crude prices, production, refiners can increase
accompanied by volatility. The operational efficiencies, maximize
current downward cycle in pri-
“Tces, which is one of the longest productivity and produce products at
in history, began its precipitous decline in June of lower costs
2014 and reached a massive decline of 80% in
early 2016. It is only recently that we have star-
ted to see encouraging signs of a reversing trend operational efficiencies, maximize productivity and
upwards” said the OPEC Secretary General, at Pe- produce products at lower costs. Most importan-
trotech 2016 in December 2016, New Delhi, India tly, how they can address crucial operational chal-
(Figure 1). lenges to reduce risks that can impact profit and
Through what can the refiners solicit higher re- safety.
venues in a period characterized by a downward
trend in crude oil price and a conse-
quent shrinking margin in the refine-
ries? How can they remain compe-
titive and thrive in today’s uncertain
and volatile energy market?
This paper describes how the Refi-
nery and Petrochemicals integration
strategy can be construed as the
value proposition for current global
refining market, thus contrasting the
slower growing motor fuels with the
higher valued faster growing plastics
(Figure 2).

Why aiming at such integration? He-
reinafter the main inherent advanta-
ges: Figure 2. Plastics versus motor fuels growing trend
• Ability to produce higher va-
lue products from same feeds
(Ethylene, Propylene, Butadiene, Benzene and
derivatives such as PE, PP, Styrene etc.…) Basis of the Study
• Premium transfer price for various low-value The profitability of combining Refinery and Petro-
products (Raffinates, Refinery Off-Gas) chemical complexes has been investigated in the
• Energy and cost savings (higher efficiency re- actual crude oil pricing scenario by means of a
covery schemes and less redundancy in ste- step-by-step integration approach:
am/power generation and hydrogen produc- • Case Study 1: Refinery stand-alone
tion). • Case Study 2: Refinery + Aromatics
• Case Study 3: Refinery + Aromatics + Petro-
Let’ s see in detail how the refiners can increase chemicals.
For the above three case studies a cash flow
analysis has been carried out on the basis of fol-
lowing input parameters:
• Technological scheme à the selection of the
specific configuration scheme has been made
based on TechnipFMC excellent expertise in
providing Oil & Gas processing solutions and
implementation schemes in the field of up front
loading activities
• Overall material balance, overall utilities con-
sumption summary and units capacityà the
necessary technical data have been appraised
on the basis of in-house information and data
coming from previous similar projects
• CAPEX estimate à the investment cost has
Figure 1. Brent and WTI pricing last 3 years pricing scenario
been estimated considering an AACE (Asso-

Impiantistica Italiana - Settembre-Ottobre 2017 33