|
|
 |
|
Viewing report
|
|
|
|
Energy Management in Oil Refineries Market
Frost & Sullivan, July 2009, Pages: 86
Current developments in the energy industry have been forcing oil companies to re-invent themselves. The fluctuating crude oil prices have undermined stock prices and at the same time the battle for being energy efficient to stay competitive in the market has been demanding continuous reappraisal by the firms. In order to stay competitive and improve margins, oil refineries have been resorting to technological improvements and process improvement techniques. Improving energy efficiency through energy management initiatives forms a crucial part of a firm’s strategy to achieve the desired objectives
This Frost & Sullivan research service titled Energy Management in Oil Refineries Market provides revenue forecast, market dynamics, and market trends. The study is aimed at assisting energy service companies (ESCOs) and other energy management solution providers in identifying the promising growth segments.
Market Overview
Oil Prices and Environmental Regulations Increase Pressure on Oil Refineries, Highlighting the Need for Energy Management
Volatile oil prices during 2008 greatly impacted the dynamics of energy management in the oil refineries market. Energy management strategies unleashed by oil refineries had to be frequently revisited to maintain profit margins. While there are oil refineries that are prepared to invest millions of dollars on energy management initiatives to establish a strong sense of corporate social responsibility, there are those that are not ready to accept the financial feasibility of investments in energy management solutions. 'Depleting oil resources and technological challenges associated with tapping into crude oil sources pose bottlenecks for oil companies,' notes the analyst of this research service. 'These oil companies face a ruthless competitive business environment and have to deploy energy management strategies to lower production costs without compromising on product quality.'
To complicate matters, environment protection measures are being tightened all over the world and oil companies have to incur significant capital expenditure to meet the higher compliance standards of these regulations. Regardless of their size and functions, all industries have been resorting to energy management solutions to conform to national and global obligations focusing on social, economic, and environmental impacts. Petroleum companies worldwide are scaling up investments in state-of-the art energy management practices that involve numerous measures at every stage of the value chain. Energy management in the form of process optimization, technology upgradation, energy efficient practices, corporate planning and control and merger of quality management systems (QMS) with environmental management systems (EMS) enables firms to raise the bar on productivity and optimize service quality at the same time.
In the oil refineries market, the green approach is a surefire way to support business growth. However, energy managers in the oil refineries sector neither possess the requisite knowledge nor the wherewithal to identify areas that have energy-saving potential. Some energy managers refrain from implementing energy efficiency improvement projects due to preoccupation with other activities, while others perceive it as a marketing gimmick. In this situation, ESCOs can help prevent energy wastage and ensure high levels of production. Professional ESCOs are certified by the government for providing energy auditing services, and their teams consist of qualified and knowledgeable professionals who develop superior quality products and solutions.
'Bridging the gap between ESCOs and oil refineries is essential to create a win-win situation for both parties involved,' says the analyst. 'The current situation requires firms to focus on outsourcing the energy management solutions to professional ESCOs that have vast experience in implementing these solutions.' This also reduces the cost of ownership, increases return on investment, and furthers the green cause. To implement energy management projects, it is imperative to keep in step with the ever evolving technological developments across various processes. Under such circumstances, professional ESCOs are more reliable as they have more time to devote to various issues across diverse processes.
Product samples
A sample for this product is available. Please Login/Register to download this sample.
Customers who bought this item also bought
Global Refinery Catalyst Market - FCC, HTC, HCC By Units, Geography, Ingredients & Applications (2010 - 2015)
World Automation and Control Solutions Market in Power Industry
Analyzing the Growth Opportunities in the World Non-renewable Inverter Market
North American Energy Management Services (EMS) & ESCO Market
European Heat Pumps Markets
Indian Low and Medium Voltage Switchgear Markets
Strategic Analysis of the South African and Nigerian Petrochemicals Markets
The Future Of The Global Refining Industry to 2015 – Benefiting From National Oil Companies’ Growth
Global Refinery Catalyst Market (2009-2014)
Southeast Asian Bioethanol Market
|
|
|
|
