Applying the Circular Business Model to Improve Performance Indicators of Operational Excellence / A Case Study at Daura Refinery

Authors

  • Hamid Abdulredhd Karam Department of Business Administration, College of Administration and Economics/ University of Baghdad
  • Dr. Eythar Abdulhadi alfeehan Department of Business Administration, College of Administration and Economics/ University of Baghdad

Keywords:

Circular Business Model, Fluid Catalytic Cracking, Performance Indicators

Abstract

The current study is an attempt and a contribution to the cognitive efforts related to the possibility of transferring knowledge and modern methods and applying them in the Midland Refineries Company, which was appointed by Al-Daura Refinery/ Baghdad, by addressing the variables (Circular Business Model, , performance indicators of operational excellence), as the study aims to find appropriate ways to achieve the highest Value for the outputs of production processes. The problem of the study was represented by a deficiency in the optimal handling of resources, that is, a lack of parity between the inherent value of crude oil and the current production processes to expand that value, which leads to the emergence of a high percentage of a heavy by-product (fuel oil) of limited use and low value, at the expense of light, high-demand products. The importance of the study lies in its addressing an important cognitive and applied problem in a large and vital economic sector such as the oil sector and contributing to increasing the production of light petroleum derivatives and improving their quality without the need for additional quantities of crude oil. The study adopted the applied case study approach, and used quantitative indicators represented by mathematical equations when analyzing the results. Data were collected from the official records and reports of the Daura Refinery departments, and the Karbala Refinery was also used to take some design data about the FCC unit. One of the most important results reached by the study is the production of premium, high-demand gasoline from low-demand fuel oil, while improving the overall performance of the Daura refinery without requiring additional Crude Oil. One of the most important conclusions of the study is that the Circular Business Model expand the value of crude oil in the production of high-demand products, provide protection for the environment for preserve its natural resources from depletion. One of the most important recommendations of the study is the necessity of keeping pace with modernity in operational production methods to ensure the addition of new improvements to the product and the production process.

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Published

2024-07-06

How to Cite

Karam , H. A. ., & alfeehan, D. E. A. . (2024). Applying the Circular Business Model to Improve Performance Indicators of Operational Excellence / A Case Study at Daura Refinery . American Journal of Economics and Business Management, 7(7), 1–10. Retrieved from https://globalresearchnetwork.us/index.php/ajebm/article/view/2821

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