Xiamen, China, May 20, 2021 – Honeywell (NASDAQ: HON) today released the "Refinery of the Future White Paper – Six Key Energy Efficiency Analysis" (the "White Paper") at the 2021 Honeywell UOP Petroleum Refining Conference with the theme of "Refinery of the Future, Smart Future". The white paper details how refiners can adopt the E6 (6 Critical Efficiencies) framework analysis system to focus on improving economic efficiency and profitability to ensure that refineries can seize growth opportunities and help transform and upgrade the petrochemical industry.
The white paper analyzes and quantifies the efficiency of the six key efficiencies of the "refinery of the future", covering six indicators of carbon, hydrogen, emissions, energy consumption, water and capital. Through process intensification based on six key efficiencies, refineries can improve productivity, efficiency and return on investment, opening up new ideas for sustainable development in the petrochemical industry.
"The strategic combination of connected factories and process intensification can help refineries further unlock the value of integration." Lei Xiang, Vice President and General Manager of Honeywell UOP China, said, "Refinery of the Future is a capital investment strategy that aims for sustainable long-term profitability and can help refineries better respond to market changes, seize growth opportunities, maximize economic efficiency and profitability, and achieve sustainable development. ”
As the world's leading process technology supplier and licensor in the oil and gas industry, Honeywell UOP proposed the concept of "Refinery of the Future" in 2019 and released the "Refinery of the Future White Paper - Crude Oil to Chemicals" to explore how to build a "refinery of the future" to meet a series of challenges encountered by the refining and chemical industry, meet the needs of refineries to invest in clean fuel production capacity, and help refineries develop into integrated petrochemical enterprises.
One of the trends in the development of the "refinery of the future" is the change of crude oil conversion routes. Converting crude oil into more and more petrochemical products, or even completely into petrochemical products, will be the most important vision and transformation direction of the "refinery of the future". The white paper further elaborates on the transformation and upgrading of the petrochemical industry through the "refinery of the future" capital investment strategy that fully embraces digitalization and process intensification.
The "14th Five-Year Plan" period is a critical period for the transformation and upgrading of China's petroleum and chemical industry and the high-quality development. The "Refinery of the Future" contributes to China's carbon emission reduction and sustainable development goals by improving energy efficiency and reducing the net emission footprint as much as possible, and making a positive contribution to the global cause of climate change mitigation. Honeywell has been implementing the strategy of "East for East" in China, serving the long-term goal of China's high-quality development by continuously developing products and technologies that meet the energy and environmental needs of Chinese customers, and shaping a sustainable future with Chinese partners.
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