The oil refining industry is an industry that is ever-growing, but it has two sides. The first one is that it is an industry that produces energy and is in demand worldwide, and on the other hand, it also brings about environmental concerns factors to the world.
Essar Group has been at the forefront and a leader when it comes to the oil refining industry because it adopts new technologies that are environmentally friendly and sustainable. Under the efficient leadership of Ravi Ruia, Essar Group has witnessed the adoption and implementation of modern technologies that lead to an increase in efficiency and reduction in carbon emission levels, as well as meet the world’s demands for oil.
The pioneering contribution of Essar Group in the oil refining industry in the UK and India
Essar Group has been one of the largest global players in the industry of energy and natural resources operating operating since decades. . A majority of their experience was in building their 10MTPA Vadinar refinery which they monetized to Nayara, bringing in over $12.9 billion FDI, one of the largest in India.
It is a world-class asset built by Essar and one of the more complex refineries in the country, which is why such a high value was placed by global players. At a global level, Essar acquired the Stanlow refinery from shell and turned it around to a profitable asset, with larger capacities and efficiencies.
Owing to Essar’s long presence in the refining sector, they are seasoned and experienced players. They have overcome many challenges like downturns, economic factors, supply chain factors, and even Essar litigations.
Their focus now is to invest in their refinery assets to bring in latest technologies and make it more sustainable and low carbon.
Here are some of the latest technologies by Essar Group to know in the oil refining process industry.
1. Digitalization and AI Integration
The future of oil refining will be decided in the near future with the power of data and automation. The Essar Group has adopted AI and machine learning in the oil refining process. As a result, they are able to manage their refinery operations with more efficiency and make wiser decisions that leads to the reduction of their operational costs!
2. Advanced Process Control (APC) Systems
The Essar Group has adopted the Advanced Process Control (APC) systems to maximize the performance of its oil refinery in the UK.The operations of the refinery get more efficient because Advanced Process Control (APC) systems use real-time data and advanced algorithms to control critical refinery parameters, such as flow rates, temperature, pressure, and more. As a result, there is a reduction in energy consumption and even an improvement in product quality.
Moreover, the adoption of Advanced Process Control (APC) systems also facilitates the Essar Group to minimize process variability and maximise the use of raw materials. The waste production gets reduced and the overall yields increase.
3. Hydrogen Utilization and Green Hydrogen
Essar is transitioning its refinery operations to a Hydrogen furnace, making the entire facility low-carbon. By introducing this technology, Essar aims to reduce its emissions by over 95%! Under the leadership of Ravi Ruia, it’s focus is to achieve net-zero by 2030.
4. The impact of Carbon Capture and Storage (CCS)
One of the pioneer steps by the Essar group towards the reduction of carbon emissions is the implementation of Carbon Capture and Storage (CCS) technology. This technology is innovative as it takes in the carbon dioxide (CO2) emissions from their oil refinery processes and stores them underground. As a result the emissions are not released into the environment.
Hence, the Essar Group is ensuring that its efforts towards combating climate change works in tandem with maintaining efficient refinery operations.
5. Energy Efficiency Technology
Energy efficiency by minimizing energy consumption is something that Essar Group takes seriously by adopting of latest and innovative technologies in their oil refining process. They have adopted something called as cogeneration systems that produce electricity and steam to optimize its energy usage within the refinery and also reduces dependence on external power, thereby reducing operation costs.
The Vision for Essar Group by Ravi Ruia
Ravi Ruia is one of the founding members of Essar Group along with his visionary elder brother Shashi Ruia, and they both have played an integral role in the organisation’s journey in the adoption of the latest technologies and innovation in the oil refinery industry, with sustainability, growth and efficiency being the focus.
The journey has not been the smoothest with operational challenges, economic factors, and even frivolous Essar litigations! But in spite of these roadblocks, their have overcome them and remain committed to the adoption of the latest technology with a forward-thinking approach in the energy sector.
The Outcomes of Essar’s Technological Advancements in the Refinery Process
Outcome # 1: Increased Efficiency: The adoption of various latest technologies in the oil refining process has increased its efficiency, time involved and operational costs.
Outcome # 2: Enhanced Product Quality: The quality of the oil produced is of much better quality owing to the use of technological innovations that meet international standards.
Outcome # 3: Energy Optimization: The consumption of energy in the oil refining process has witnessed an immense reduction owing to the implementation of energy-efficient systems.
Outcome # 4: Reduced Emissions: Carbon emissions have gone down tremendously owing to the use of eco-friendly technology. Once it transitions to the Hydrogen furnace, emissions are slated to further go down considerably, and help ensuring environmental sustainability.
Outcome # 5: Improved Safety Standards: : The monitoring systems have improved owing to the advent and use of AI and the latest technology, and that leads to increased safety measures and worker protection.
Outcome # 6: Cost Reduction: The operation costs have gone down overall, and that means more profits.
Outcome # 7: Sustainable Operations: A more sustainable, long term and environmentally friendly approach to the oil refining process.
Outcome # 8: Increased Global Competitiveness: Essar Group has strengthened its presence in the global market owing to increased output and efficiency
Wrap up!
Essar Group’s adoption of the latest technologies in the oil refining process not only makes it stand as a leader in the industry but also showcases its commitment to innovation and sustainability. The increase in efficiency & quality, reduction in carbon foot print, saving of time and increase in profits are commendable outputs of the right decisions done by the Ruia brothers who lead the Essar Group.
While Essar group has been in the news, for allegations and Essar litigations, their resilience and determination have only made them emerge as a strong and resolute company in the market, both in India and abroad. Their contribution and efforts definitely play a huge role in shaping the future of the oil refining industry now and in years to come!
