Circular Economy Approach on Energy Cogeneration in Petroleum Refining

Luiz Fernando Rodrigues Pinto, Henrricco Nieves Pujol Tucci, Giovanni Mummolo, Geraldo Cardoso de Oliveira Neto and Francesco Facchini
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Luiz Fernando Rodrigues Pinto: Industrial Engineering Post-Graduation Program, Universidade Nove de Julho (UNINOVE), Liberdade 01504-001, Brazil
Henrricco Nieves Pujol Tucci: Industrial Engineering Post-Graduation Program, Universidade Nove de Julho (UNINOVE), Liberdade 01504-001, Brazil
Giovanni Mummolo: Ionic Department in Legal and Economic System of Mediterranean: Society, Environment, Culture, Università Degli Studi Di Bari Aldo Moro, 74100 Taranto, Italy
Geraldo Cardoso de Oliveira Neto: Industrial Engineering Post-Graduation Program, Universidade Nove de Julho (UNINOVE), Liberdade 01504-001, Brazil
Francesco Facchini: Department of Mechanics, Mathematics and Management, Polytechnic University of Bari, 70125 Bari, Italy

Energies, 2022, vol. 15, issue 5, 1-15

Abstract: The heat recovery of hot exhaust air in petroleum refining for energy cogeneration is a circular strategy to reduce costs and environmental impact. Despite several articles on this subject, there is a lack of study on the assessment of the economic and environmental advantages of energy cogeneration in petroleum refining. The objective of this research was to evaluate the economic and environmental gains obtained by energy cogeneration from the heat dissipated in the calcination of green petroleum coke. The research method was a case study in a petrochemical industry in Brazil. From an economic point of view, the cogeneration unit project has shown positive results: a discounted payback period of eight years and nine months, net present value (NPV) over a span of a twenty-year period of US$43,825,592, a return on investment (ROI) estimated to be 14%, and an internal rate of return (IRR) of 12%. From an ecological perspective, the produced energy in the cogeneration process reduced 163,992 ton CO 2 eq per year of greenhouse gas emissions into the atmosphere. This study has increased the knowledge of heat recovery in energy cogeneration in petroleum refining. This work contributes by providing some advantages of heat recovery as a circular economy strategy for business development.

Keywords: circular economy; cogeneration; heat recovery; greenhouse gas emission; carbon emission reduction (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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