Petrogenium was a proud sponsor of the #ARTC2021 (Asian Refining Technology Conference) recently, focusing on the realities of the APAC refiners and asset owners. Streamed from Singapore, Paul Newman moderated a panel of regional Downstream leaders.
The key takeaways for Paul and colleagues Terence Tan (Singapore-based) and Kitti Wongsinphaiboon (Thailand-based) are as follows.
1. The energy transition is top of mind for the region, similar to other regions, but time is a luxury to move from 1.0 to 2.0. Not all players have the same sense of urgency. Oil and gas companies have responded with their own targets for ‘net zero,’ but progress is slow. Current focus is on process improvements, alternative products, CCUS, H2 and renewable energy. With a clear portfolio of capabilities to address each of these, Petrogenium is in a good position as a trusted advisor.
2. The standalone refinery cannot refine. Refineries need to integrate with an integrated portfolio, including petrochemicals, to increase their rate of return. As there are many configurations for newly integrated refineries, they need a lot of study work to determine how best to do this dependent on each refinery’s situation. There is no silver bullet – each refinery needs to determine which petrochemicals are best for its unique situation and to provide unique technical configuration. Only with government support can many refineries implement the required changes.
3. Everyone agrees that digitalisation could be useful to determining demand/supply balance and can be an opportunity for SE Asian refiners to invest in demand/supply forecasts. Overall, digitalisation can assist with productivity, safety and error reduction – amongst other benefits.
4. Every country is watching and waiting to see which company is making the first move, to see what does and doesn’t work.
5. Electrification is reducing the Downstream footprint.
6. Young talent is increasingly attracted to other industries.
Petrogenium thanks the ARTC organizers for the chance to be a part of the conversation!
ARTC 2021 – Key Takeaways from APAC
