Definition: A measure of the extent to which a refinery is operating compared to its full capacity, expressed as a percentage.
Key Components:
- Actual Throughput: Amount of crude oil processed.
- Operable Capacity: Maximum sustainable processing capability.
Use Cases/Industries:
- Refinery Operations: Assessing efficiency and profitability.
- Market Analysis: Evaluating supply levels and potential shortages.
Advantages:
- Performance Indicator: Helps optimize operations.
- Market Insight: Informs pricing and inventory decisions.
Challenges:
- Maintenance Downtime: Can lower utilization rates.edfenergy.com+1glossary.slb.com+1
- Market Demand Fluctuations: Affect optimal operating levels.
Related Terms:
- Capacity Factor: Ratio of actual output to potential output.
- Throughput: Volume processed over a given period.
Example: A refinery with a capacity of 200,000 barrels per day processes 180,000 barrels, resulting in a utilization rate of 90%.
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Synonyms:
Refinery Capacity Utilization, Operating Rate
