| SOLOMON Study
In order to continue achieving higher performance as compared against other industry
giants, MIDOR used Solomon's Associates (a independent firm well known for measuring and analyzing
global energy industry performance) for assessing its own performance as an oil refinery. MIDOR performance
assessment was measured in comparison with other international refineries in terms of energy utilization,
maintenance and its ability to conduct other business activities.
Study Results :
-
Characteristics:
General data |
MIDOR 2008 |
Total Study |
Middle East 2008 |
Gasoil Conversion Group (GOC 1) |
No. of Refineries |
1 |
111 |
15 |
26 |
Equivalent Distillation Capacity (EDC), k |
1,120 |
1,607 |
1,915 |
887 |
Crude Capacity, kb/d |
106 |
186 |
253 |
102 |
Complexity |
10.6 |
8.6 |
7.6 |
8.7 |
Refinery Age (yrs) |
7.7 |
25.2 |
22.3 |
30.9 |
Crude ( API ) |
31.3 |
34.1 |
35.6 |
35.4 |
Crude Sulfur (wt%) |
2.2 |
1.2 |
1.8 |
0.8 |
MIDOR Vs. Middle East :
Index |
MIDOR 2008 |
Middle East 2008 |
Process Utilization (P.U.) % |
91.2 |
83.7 |
Volumetric Expansion Index (VEI) |
65 |
66 |
Energy Intensity Index (EII ) |
102 |
96 |
Personnel Index (PI) |
377.1 |
169 |
MEI |
93.6 |
131.6 |
Mechanical Availability (MA) (w/o slowdowns) |
93.5 |
95.2 |
OPEX/UEDC |
61 |
38.1 |
Return On Investment (ROI) |
19.6 |
14.1 |
International Ranking:
|
Ranking |
Index |
Actual Value |
Study Quartile |
Total Study (111) |
GOC Group 1 (26) |
Middle East (15) |
Refinery Utilization % |
91.7 |
Q1 |
6 |
1 |
4 |
Volumetric Expansion Index |
65 |
Q3 |
55/86 |
14 |
3/12 |
Energy Intensity Index (EII) |
102 |
Q3 |
74 |
14 |
11 |
Maintenance Cost Efficiency Index (MEI™) |
93.6 |
Q1 |
22 |
5 |
3 |
Mechanical Availability w/o Slowdowns % |
93.5 |
Q4 |
101 |
23 |
12 |
Total, US Cents/Utilized EDC |
61 |
Q1 |
18 |
2 |
14 |
Net Cash Margin, US $/bbl |
11.81 |
Q1 |
4 |
1 |
1 |
Return on Investment % |
19.6 |
Q1 |
14 |
4 |
6 |
The study's results are being divided into four groups: First Quarter Q1 is the
highest in performance and Fourth Quarter Q4 is the lowest in performance.
Conclusion:
MIDOR performance can be summarized as follows:
Best and top performer in:
• Process and Refinery utilization.
• Maintenance and Turnaround index.
• All cash operating expenses, Cash margins, and ROI%.
• Personnel cost index. |
