Prescriptive Analytics in Action: Chevron Optimizes Processing of Crude Oil1
Chevron is one of the world’s leading integrated energy companies. Chevron refineries process crude oil into fuels, such as gasoline, jet, and diesel; base oils, such as lubricants; and specialty products, such as additives. Chevron refineries production systems are limited by thousands of operational constraints: Quality of crude oil comes with unique qualities and pricing; each refinery has a unique configuration and a different capability for handling various types of crude oil and manufacturing different product mixes. With market prices of crudes and products constantly in flux, determining the best way to operate the refineries is always a challenge. Chevron processes over two million barrels of crude oil per day. Any savings per barrel can be translated into millions of dollars annually.
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