Storage Tank Farming Planning Under Equipment and Port Operational Costs Through Mixed Integer Quadratically Constrained Programming

Abstract

The study contributes a new method for managing crude oil tank farms, focusing on scheduling and optimizing storage tanks using mathematical modeling. The short-term continuous-time scheduling model reduces tank requirements and performs selection with convenient capacities. The nonconvex mixed-integer quadratically constrained programming (MIQCP) model is used to account for tank farm scheduling dynamics. It focuses on the integration of ships, storage tanks, charging tanks, and crude oil distillation units. The study examines 8 cases focusing on oil supply, arrival times, prices, and maximum flow rate constraints to show the impact of real-world volatility. By incorporating process intensification principles, the mathematical model emphasizes the importance of optimizing storage tank usage to minimize port operational costs of crude oils.