China’s largest integrated petroleum and petrochemical company has chosen an enterprise software solution for refinery planning and scheduling. Aspentech has signed a software license agreement for supply chain planning and scheduling with Sinopec, the China Petroleum and Chemical Corporation.
Sinopec will use the AspenTech’s solution to determine the optimal plan for crude oil selection and production scheduling for its network of 25 refineries. By selecting crude from the international market so that it provides an optimal product mix, Sinopec hopes to utilise full operating potential of its refineries, and therefore significantly improve profitability across the enterprise.
Sinopec has also licensed AspenTech’s simulation software to create engineering models of its refineries. These models enhance the accuracy of the supply chain optimisation, and make it possible to predict the product yields from various crude stocks at selected refineries.
According to vice president Cao Xianghong: ‘Optimising the integrated business process of crude selection and allocation will enable Sinopec to maximise its profitability by reducing its procurement costs and running its refinery operations more efficiently.’
At the end of February, Aspen Technology announced the availability of its latest software. The new release enables collaborative engineering by making use of the Internet and integrating engineering models with manufacturing and supply chain activities.
By sharing information via the Internet and using knowledge management tools, process manufacturers should be able to increase engineering productivity, but also maximise the return on their plant assets and improve their operating margins through more informed decision-making.