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Turnaround (refining)
A turnaround (TAR) is a scheduled event wherein an entire process unit of an industrial plant, such as a refinery, petrochemical plant, power plant, or paper mill, is taken offstream for an extended period for work to be carried out. Turnaround is a blanket term that encompasses more specific terms such as I&Ts (inspection and testing), and maintenance. Turnaround can also be used as a synonym of downtime. Related terms are shutdowns, and outages sometimes written as Turnarounds, Shutdowns, and Outages (TSO). Maintenance budget Turnarounds are expensive, both in terms of lost production while the process unit is offline and in terms of direct costs for the labour, tools, heavy equipment and materials used to execute the project. They are the most significant portion of an industrial plant's yearly maintenance budget and can affect the company's bottom line if mismanaged. Turnarounds have unique project management characteristics. [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Oil Refinery
An oil refinery or petroleum refinery is an industrial processes, industrial process Factory, plant where petroleum (crude oil) is transformed and refining, refined into products such as gasoline (petrol), diesel fuel, Bitumen, asphalt base, fuel oils, heating oil, kerosene, liquefied petroleum gas and petroleum naphtha. Petrochemical feedstock like ethylene and propene, propylene can also be produced directly by Cracking (chemistry), cracking crude oil without the need of using refined products of crude oil such as naphtha. The crude oil feedstock has typically been processed by an oil production plant. There is usually an oil depot at or near an oil refinery for the storage of incoming crude oil feedstock as well as bulk liquid products. In 2020, the total capacity of global refineries for crude oil was about 101.2 million barrels per day. Oil refineries are typically large, sprawling industrial complexes with extensive piping running throughout, carrying streams of fluids b ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Petrochemical
Petrochemicals (sometimes abbreviated as petchems) are the chemical products obtained from petroleum by refining. Some chemical compounds made from petroleum are also obtained from other fossil fuels, such as coal or natural gas, or renewable sources such as maize, palm fruit or sugar cane. The two most common petrochemical classes are olefins (including ethylene and propylene) and aromatics (including benzene, toluene and xylene isomers). Oil refineries produce olefins and aromatics by fluid catalytic cracking of petroleum fractions. Chemical plants produce olefins by steam cracking of natural gas liquids like ethane and propane. Aromatics are produced by catalytic reforming of naphtha. Olefins and aromatics are the building-blocks for a wide range of materials such as solvents, detergents, and adhesives. Olefins are the basis for polymers and oligomers used in plastics, resins, fibers, elastomers, lubricants, and gels. Global ethylene production was 190 milli ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Power Plant
A power station, also referred to as a power plant and sometimes generating station or generating plant, is an industrial facility for the electricity generation, generation of electric power. Power stations are generally connected to an electrical grid. Many power stations contain one or more Electric generator, generators, rotating machine that converts mechanical power into three-phase electric power. The relative motion between a magnetic field and a Electrical conductor, conductor creates an electric current. The energy source harnessed to turn the generator varies widely. Most power stations in the world burn fossil fuels such as coal, petroleum, oil, and natural gas to generate electricity. Low-carbon power sources include nuclear power, and use of renewable energy, renewables such as solar power, solar, wind power, wind, geothermal power, geothermal, and hydroelectricity, hydroelectric. History In early 1871 Belgian inventor Zénobe Gramme invented a generator powerfu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Paper Mill
A paper mill is a factory devoted to making paper from vegetable fibres such as wood pulp, old rags, and other ingredients. Prior to the invention and adoption of the Fourdrinier machine and other types of paper machine that use an endless belt, all paper in a paper mill was made by hand, one sheet at a time, by specialized laborers. History Historical investigations into the origin of the paper mill are complicated by differing definitions and loose terminology from modern authors: Many modern scholars use the term to refer indiscriminately to all kinds of mills, whether powered by humans, by animals or by water. Their propensity to refer to any ancient paper manufacturing center as a "mill", without further specifying its exact power source, has increased the difficulty of identifying the particularly efficient and historically important water-powered type. Human and animal-powered mills The use of human and animal powered mills was known to Muslim and Chinese paper ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Maintenance
The technical meaning of maintenance involves functional checks, servicing, repairing or replacing of necessary devices, equipment, machinery, building infrastructure and supporting utilities in industrial, business, and residential installations. Terms such as "predictive" or "planned" maintenance describe various cost-effective practices aimed at keeping equipment operational; these activities occur either before or after a potential failure. Definitions Maintenance functions can be defined as maintenance, repair and overhaul (MRO), and MRO is also used for maintenance, repair and operations. Over time, the terminology of maintenance and MRO has begun to become standardized. The United States Department of Defense uses the following definitions: Federal Standard 1037C and from MIL-STD-188 and from the Department of Defense Dictionary of Military and Associated Terms * Any activity—such as tests, measurements, replacements, adjustments, and repairs—intended to retain ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Downtime
In computing and telecommunications, downtime (also (system) outage or (system) drought colloquially) is a period when a system is unavailable. The unavailability is the proportion of a time-span that a system is unavailable or offline. This is usually a result of the system failing to function because of an unplanned event, or because of routine maintenance (a planned event). The terms are commonly applied to networks and servers. The common reasons for unplanned outages are system failures (such as a crash) or communications failures (commonly known as network outage or network drought colloquially). For outages due to issues with general computer systems, the term computer outage (also IT outage or IT drought) can be used. The term is also commonly applied in industrial environments in relation to failures in industrial production equipment. Some facilities measure the downtime incurred during a work shift, or during a 12- or 24-hour period. Another common practice is to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Production (economics)
Production is the process of combining various inputs, both material (such as metal, wood, glass, or plastics) and immaterial (such as plans, or knowledge) in order to create output. Ideally this output (economics), output will be a goods and services, good or service which has value (economics), value and contributes to the utility (economics), utility of individuals. The area of economics that focuses on production is called production theory, and it is closely related to the consumption (or consumer) theory of economics. The production process and output directly result from productively utilising the original inputs (or factors of production). Known as primary producer goods or services, land, labour, and capital are deemed the three fundamental factors of production. These primary inputs are not significantly altered in the output process, nor do they become a whole component in the product. Under classical economics, materials and energy are categorised as secondary factors a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Wage Labour
Wage labour (also wage labor in American English), usually referred to as paid work, paid employment, or paid labour, refers to the socioeconomic relationship between a worker and an employer in which the worker sells their labour power under a formal or informal employment contract. These transactions usually occur in a labour market where wages or salaries are market-determined. In exchange for the money paid as wages (usual for short-term work-contracts) or salaries (in permanent employment contracts), the work product generally becomes the undifferentiated property of the employer. A wage labourer is a person whose primary means of income is from the selling of their labour in this way. Characteristics In modern mixed economies such as those of the OECD countries, it is the most common form of work arrangement. Although most labour is organised as per this structure, the wage work arrangements of CEOs, professional employees, and professional contract workers are ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Budget
A budget is a calculation plan, usually but not always financial plan, financial, for a defined accounting period, period, often one year or a month. A budget may include anticipated sales volumes and revenues, resource quantities including time, costs and expenses, environmental impacts such as greenhouse gas emissions, other impacts, assets, Liability (financial accounting), liabilities and cash flows. Companies, governments, families, and other organizations use budgets to express strategic planning, strategic plans of activities in measurable terms. Preparing a budget allows Company, companies, Public authority, authorities, private entities or Family, families to establish priorities and evaluate the achievement of their objectives. To achieve these goals it may be necessary to incur a Deficit spending, deficit (expenses exceed income) or, on the contrary, it may be possible to save, in which case the budget will present a Surplus (economics), surplus (income exceed expense ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bottom Line
In business and accounting, net income (also total comprehensive income, net earnings, net profit, bottom line, sales profit, or credit sales) is an entity's income minus cost of goods sold, expenses, depreciation and amortization, interest, and taxes, and other expenses for an accounting period. It is computed as the residual of all revenues and gains less all expenses and losses for the period,Weil, Schipper, Francis. (2009) Financial Accounting: An Introduction to Concepts, Methods, and Uses. Cengage Learning and has also been defined as the net increase in shareholders' equity that results from a company's operations.Weil, Schipper, Francis. (2010) Financial Accounting. Cengage Learning. It is different from gross income, which only deducts the cost of goods sold from revenue. For households and individuals, net income refers to the (gross) income minus taxes and other deductions (e.g. mandatory pension contributions). Definition Net income can be distributed among holders ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Project Management
Project management is the process of supervising the work of a Project team, team to achieve all project goals within the given constraints. This information is usually described in project initiation documentation, project documentation, created at the beginning of the development process. The primary constraints are Scope (project management), scope, time and budget. The secondary challenge is to operations research, optimize the Resource allocation, allocation of necessary inputs and apply them to meet predefined objectives. The objective of project management is to produce a complete project which complies with the client's objectives. In many cases, the objective of project management is also to shape or reform the client's brief to feasibly address the client's objectives. Once the client's objectives are established, they should influence all decisions made by other people involved in the project– for example, project managers, designers, contractors and subcontractors ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Shutdown (nuclear Reactor)
Shutdown is the state of a nuclear reactor when the fission reaction is slowed significantly or halted completely. Different nuclear reactor designs have different definitions for what "shutdown" means, but it typically means that the reactor is not producing a measurable amount of electricity or heat and is in a stable condition with very low reactivity. Definition The shutdown margin for nuclear reactors (that is, when the reactor is considered to be safely in a shutdown state) is usually defined either in terms of reactivity or dollars. For reactivity, this is calculated in units of delta-k/k, where k is equal to the criticality of the reactor (essentially, how fast and controlled the nuclear fission reaction is). It is sometimes also measured in dollars, where one dollar is equal to a reactor in prompt criticality, this can then be used to calculate the change in reactivity required to shutdown or start up the reactor. The shutdown margin for each reactor can either re ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
