Integrated Environmental Techno-Economic Analysis of Utilizing Carbon and Hydrogen in Oil Refineries Towards a Decarbonized Circular Economy

Improving the overall efficiency of oil refinery decarbonization requires the effective valorization of existing material and energy streams rather than the structural replacement of current assets. This paper establishes that the use of surplus hydrogen coupled with CO2 hydrogenation is one of the best routes towards the production of high-value products, and also, in the process, reduces the carbon footprint of the refinery processes. The paper is focused on ensuring maximum system efficiency, which is the combined activity of hydrogen production, carbon capture, and CO2 hydrogenation to value-added fuels and chemicals.To support informed decision-making, an integrated environmental techno-economic analysis (IETEA) has been developed to consider the technical, economic, policy, market, and environmental factors to be applied in the deployment of CO2 hydrogenation. The framework will allow performing a thorough evaluation of strengths, weaknesses, opportunities, and threats (SWOT) in different regions, energy price’s structure, and the decarbonization technology landscape. The systematic connection of process efficiency, cost structures, regulatory framework, and market preparedness, the given approach offers a solid foundation to determine the most efficient ways of improving the general efficiency and attain refinery decarbonization in the form of value-product generation.