There's been a lot of talk lately about the state of oil prices. But no matter the immediate state of the market, the refining industry faces a more fundamental structural challenge: with commoditized inputs and outputs, margins are heavily constrained by a market largely outside of refiners' control.
So with input and output costs out of your hands, what can you do to achieve success?
The answer lies in operational cost reduction, the single most effective (and quickest) way to drive immediate improvements to your bottom line. Yet many refiners struggle with identifying and executing on specific savings opportunities, whether based in movements in the market, consolidation with suppliers, or elimination of off-contract spend.
That's why we've developed a series of articles designed to help refiners reduce their costs and boost margin. In each post, we'll use real market data to focus in on specific areas to drive savings, from turnaround costs to chemicals to construction.