International Journal of Process Systems Engineering, Volume 1, Number 3-4 / 2011, Pages: 237 - 265
A. Elkamel A1 and K. Al-Qahtani A2
A1 Department of Chemical Engineering, University of Waterloo, Ontario, N2L 3G1, Canada.
A2 Department of Chemical Engineering, University of Waterloo, Ontario, N2L 3G1, Canada
Abstract:
A two-stage stochastic mixed-integer program with the objective of minimising refining cost over a given time horizon and maximising added value by the petrochemical network is proposed. Uncertainties considered in the study include imported crude oil price, refinery product price, petrochemical product price, refinery market demand, and petrochemical lower level product demand. The proposed method adopts the sample average approximation (SAA) method for scenario generation and optimal gab statistical bounding. The model performance is tested on an industrial case study of multiple refineries and a polyvinyl chloride (PVC) complex.
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