11.02.22 -- ExxonMobil Announces Third Quarter Results

A major oil producer in Alaska’s North Slope region operates miles of transit pipeline as part of the Trans-Alaska Pipeline System (TAPS) within the U.S. National Petroleum Reserve – Alaska.

Businesses rely on process units meeting or exceeding their operational plans. To ensure that operational plans are achieved, it is important that equipment operates as designed (i.e., delivers the required performance) and continues to operate in an optimum manner (i.e., remains reliable, in a good condition). The most common causes of missing operational plan targets are equipment failure, which results in unplanned downtime, and low quality or yields from production processes.

In modern tank and terminal facilities, material transfer operations include a mix of legacy processing systems still in use, new technologies installed to improve operations, and tank monitoring software. But some older facilities have not modernized their operations and can be losing millions of dollars in unaccounted losses, especially if they are dispensing more materials to customers than they are getting paid for. Conversely, errors can be made in the other direction, shortchanging and overcharging customers, leading to loss of business and other issues.