A new approach to refinery complexity factors

CATEGORY: REFINERY COMPLEXITY
A new approach to refinery complexity factors

Type	Journal Article
Author	Mark J. Kaiser
URL	http://dx.doi.org/10.1080/0013791X.2016.1202365
Volume	0
Issue	0
Pages	1-33
Publication	The Engineering Economist
Date	June 23, 2016
Abstract	Refinery complexity has been used for many years to describe the sophistication and capital intensity of refineries, but foundational issues and the limitations associated with the metric have not been examined. A more precise and rigorous approach to complexity factors is presented based on the application of cost functions. Two alternative formulations are introduced and compared to the traditional approach and lead to new descriptive statistics and insight.