Do you have enough tank storage capacity?

Why

Most capital asset teams in a refinery or a tank farm are aware of their capacity storage and constraints. What makes the problem more challenging is that there are numerous supply issues such as crude oil price sensitivity, the lead time for the crude supply, the socio-political uncertainty, and the environmental regulations. Whereas on the demand side the, product demand can be highly fluctuating across numerous products throughout the year. A refinery or a tank farm terminal must assess their capacity needs to support their operations throughout the year.

What

Most asset managers would like to lease or cease the operation of certain tanks or assets if they have a tool that helps them determine the smooth sustainability operations throughout the year. In such a case, the managers can save operational expenditure and maintenance costs for assets deemed excessive. A tool of this kind should allow the managers to first mimic their existing operations, second to allow them to simulate various scenarios of supply, demand against their capacity constraints.

How

In many cases, the refiners have excel spreadsheets that help them conduct what-if analysis. This platform is not enough to support the computation of multiple scenarios of supply, demand, and capacity. Our experts can build a tool using modern digital twin building technology to help solve this problem with exhaustive case analyses.

Benefits

There are numerous benefits that can be derived from such a tool. First, the asset managers would gain a visibility into their capacity constraints or identify excess capacity. In the case where tool indicates severe capacity shortage, a data driven case can be made to invest in an asset. Operational Impact of adding such an asset can also be assessed using this tool. In the other case, where an excess capacity is indicated by the tool such assets can be de-operationalized or leased out to other companies and operational savings can be gained via such decisions. It is also possible that the tool indicates a dynamic or a seasonal policy of operationalizing and leasing tanks/assets at certain times of the year.

Interested in building such a tool? Write back to us at: scidstools@gmail.com. Your data is safe and secure with us.