Modeling & Optimization of the FCC Unit to Maximize Gasoline Production and Reduce Carbon Dioxide Emissions in the Presence of CO2 Emissions Trading Scheme

Fluid Catalytic Cracking (FCC) is a key process in modern oil refineries as it is considered to be a major producer of gasoline in the refinery unit by upgrading heavy hydrocarbons to lighter and more valuable products. The objective of this paper is to implement an economic linear optimization model of gasoline production in the FCC unit, including not only the revenue and costs of its operation but also the potential of economic improvement or degradation after the adoption of a Carbon Trading Scheme. The model formulation of the current work is based on an already existing FCC regression model from which the model constituents are derived. The problemis modeled and solved in GAMS software. As a conclusion of the analysis and the case studies, the adoption of the carbon trading mechanism can have a significant impact on the economic behavior and profit potential of the oil refinery. Moreover, the case studies indicate that the profit is influenced profoundly by changes in both the level of the Cap set by government as well as Carbon Emissions Credits. As a matter of fact, adopting a carbon capture technology seems to be crucial as it allows a plant/company to have significant profitability gains in several scenarios.