BOTTOM UPGRADING PROCESS IMPROVEMENTS TO INCREASE DUMAI REFINERY'S MARGINS
The Dumai refinery is challenged to face the problem of national fuel needs where there is a potential for excess supply of Gasoil demand while the Gasoline needs cannot be met by 3P Companies, so they have to import Gasoline. The restructuring of the 3P Company into Holding and Sub-Holding creates...
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| Format: | Theses |
| Language: | Indonesia |
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| Online Access: | https://digilib.itb.ac.id/gdl/view/69881 |
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| Institution: | Institut Teknologi Bandung |
| Language: | Indonesia |
| Summary: | The Dumai refinery is challenged to face the problem of national fuel needs where there is a potential for excess supply of Gasoil demand while the Gasoline needs cannot be met by 3P Companies, so they have to import Gasoline. The restructuring of the 3P Company into Holding and Sub-Holding creates a new challenge for the Dumai Refinery to generate profits for the company with the current condition where the Dumai Refinery has a low processing margin when compared to other refineries in the 3P Company.
The PESTLE framework is used to analyze and mitigate threats and take advantage of opportunities, while Porter's five forces analysis is used to assess industry competition and how to position yourself for success. On the other hand, internal conditions consisting of VRCN analysis are used to gain a deeper understanding of the activities that lead to competitive advantage. Technical feasibility is carried out to obtain the most suitable Bottom Upgrading Process technology for the development of operating unit configurations at the Dumai refinery.
Bottom Upgrading technology simulation is carried out using Residual Fluid Catalytic Cracking (RFCC), Ebullated Hydrocracking Unit (EHCU) and Solvent De-Asphalt Unit (SDA) to improve the Operation Unit Configuration at the Dumai refinery. Simulation and analysis using the scoring analysis method resulted in the best option for developing the Dumai refinery by applying RFCC technology with a capacity of 40 MBSD. The new RFCC unit at the Dumai refinery is expected to increase the highest gasoline product of 19.41 MBSD and eliminate imported gasoline of 8.59 MBSD and increase the margin of the Dumai refinery from 6.27 USD/Barrel to 7.45 USD/Barrel Crude processed. The increase in Gasoline products is expected to reduce the Current Account Deficit (CAD) of national gasoline imports so as to help realize Indonesia's national energy assurance.
Using the assumption of a project life of 20 years, the new RFCC Unit is estimated to have an NPV value at the end of the period of 0.38 million USD, IRR 21.88% (vs. Hurdle Rate > 12%), Profitability Index (PI) 2.04 (vs. target > 1), and the discounted payback period (PBP) is 8.46 years.
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