Circular Economy Approach on Energy Cogeneration in Petroleum Refining

Luiz Fernando Rodrigues Pinto,Giovanni Mummolo,Geraldo Cardoso De Oliveira Neto,Henrricco Nieves Pujol Tucci,Francesco Facchini

doi:10.3390/en15051713

Luiz Fernando Rodrigues Pinto, Giovanni Mummolo + Show 3 more

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https://doi.org/10.3390/en15051713

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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 CO2eq 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.

Highlights

Power cogeneration is an alternative that has been employed by companies to promote the circular economy [1,2]
The gap identified in the literature suggests the following research question: does the heat recovery for energy cogeneration in petroleum refining offer economic and environmental advantages? To obtain the answer to the question raised, this study aimed to evaluate the benefits of the heat recovery for energy cogeneration in the calcination of green petroleum coke
This work achieved its objective of evaluating advantages of energy cogeneration in petroleum refining under a circular economy perspective

Summary

Introduction

Power cogeneration is an alternative that has been employed by companies to promote the circular economy [1,2]. The use of materials for cogeneration improves energy efficiency, resource circularity and reduces environmental impact [3]. The sustainable use and recycling of secondary raw materials are the backbone of the circular economy, which aims to minimize environmental impact through the efficient conversion of resources and energy [4]. The purpose of a circular economy is to minimize the energy and material wastes by turning them into resources for other purposes in a closed loop system [5]. Circular economy strategies could potentially reduce life cycle greenhouse gas emissions and resource consumption by increasing renewable energy and recycled materials [6]. The circular economy activities, such as increasing resources use efficiency by achieving a closed loop, has the potential of mitigating greenhouse gas emission [7]. Themes of reducing carbon emissions, promoting sustainable entrepreneurial ecosystem, and the circular economy are aligned to the Paris agreement for climate change [8]

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