The Refining and Marketing value chain is complex and involves many points that are tightly integrated with market demand and governmental regulations. Volatility in crude and product prices, ability to process opportunity crudes, variable refining margins, efforts at brand marketing, supply chain complexity, customer relationship management and extensive and changing regulations are the key challenges to this industry.
Understanding and reacting to these challenges has led market participants to invest in various technological solutions. Information Technology (IT) has emerged as the key enabler for many of these solutions for value enhancement or risk mitigation. IT not only improves the return on investment (ROI) from capital allocations, but also improves operational efficiency of the units and provides better information visibility for effective decision making.