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Title: 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:
 [1]
  1. 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}
}