Improved, integrated yield-accounting system saves time and money
Abstract
Cit-Con Corp.'s Lake Charles, La., lube plant has improved operating efficiency by employing a computerized yield-accounting process that uses new balancing methods and reconciles plant data. Cit-Con produces high-quality lubricating oils and paraffin waxes using modern refining methods. The yield-accounting task, therefore, is particularly critical because: Cit-Con is jointly owned 65% by Citgo Petroleum Corp. and 35% by Conoco Inc. Accurate yield accounting thus is essential for the owners and for tax purposes. Cit-Con produces 9,000 b/d of lube oil base stocks and 300,00 lb/day of fully refined waxes, and has an estimated replacement value of $356 million. The paper discusses lube production, accounting concerns, tracking feeds, reporting yields, monitoring operations, then describes the yield accounting system, network setup, data integration, data reconciliation, and cost savings.
- Authors:
-
- Cit-Con Corp., Lake Charles, LA (United States)
- Publication Date:
- OSTI Identifier:
- 5698219
- Resource Type:
- Journal Article
- Journal Name:
- Oil and Gas Journal; (United States)
- Additional Journal Information:
- Journal Volume: 91:47; Journal ID: ISSN 0030-1388
- Country of Publication:
- United States
- Language:
- English
- Subject:
- 02 PETROLEUM; PETROLEUM REFINERIES; ACCOUNTING; COST; DATA ANALYSIS; LUBRICATING OILS; MONITORING; OWNERSHIP; PRODUCTION; WAXES; INDUSTRIAL PLANTS; LUBRICANTS; OILS; ORGANIC COMPOUNDS; OTHER ORGANIC COMPOUNDS; PETROLEUM PRODUCTS; 020500* - Petroleum- Products & By-Products
Citation Formats
Bayard, P. Improved, integrated yield-accounting system saves time and money. United States: N. p., 1993.
Web.
Bayard, P. Improved, integrated yield-accounting system saves time and money. United States.
Bayard, P. 1993.
"Improved, integrated yield-accounting system saves time and money". United States.
@article{osti_5698219,
title = {Improved, integrated yield-accounting system saves time and money},
author = {Bayard, P},
abstractNote = {Cit-Con Corp.'s Lake Charles, La., lube plant has improved operating efficiency by employing a computerized yield-accounting process that uses new balancing methods and reconciles plant data. Cit-Con produces high-quality lubricating oils and paraffin waxes using modern refining methods. The yield-accounting task, therefore, is particularly critical because: Cit-Con is jointly owned 65% by Citgo Petroleum Corp. and 35% by Conoco Inc. Accurate yield accounting thus is essential for the owners and for tax purposes. Cit-Con produces 9,000 b/d of lube oil base stocks and 300,00 lb/day of fully refined waxes, and has an estimated replacement value of $356 million. The paper discusses lube production, accounting concerns, tracking feeds, reporting yields, monitoring operations, then describes the yield accounting system, network setup, data integration, data reconciliation, and cost savings.},
doi = {},
url = {https://www.osti.gov/biblio/5698219},
journal = {Oil and Gas Journal; (United States)},
issn = {0030-1388},
number = ,
volume = 91:47,
place = {United States},
year = {Mon Nov 22 00:00:00 EST 1993},
month = {Mon Nov 22 00:00:00 EST 1993}
}