The goal of this Challenge is to optimize petrochemical assets by using Linear Programming.
We use Linear Programming (LP) software to optimize petrochemical assets at one of our refineries. The software uses certain parameters (prices, feedstock availability, product demands, unit constraints, etc.) to identify the optimal refinery operation and feed-product mix. This optimization also includes predicted time spent producing fuels products and time producing lubricants products.
The impact of air pollution.
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Unfortunately, LP software has certain limitations in solving multiple equations simultaneously. As a result, attempts to optimize complex operations of a modern-day refinery require extended computing time, making the whole process inefficient.
By posting this Challenge, we want to find a “golden middle”: a Linear Programming modelling approach that can deal with multiple modes of operations and yet remain within reasonable execution times and the capacities of the LP platform.
This is a Prize Challenge which requires a written proposal to be submitted and there will be a guaranteed award for at least one submitted solution. By submitting a proposal, the Solver grants the Seeker a right to use any information included in their proposal.
Submissions to this Challenge must be received by 11:59 PM (US Eastern Time) on February 12, 2024.
Source: Wazoku