Phillips 66 is using artificial intelligence to predict outages within its refining systems, save on maintenance costs and increase crude processing, said Tandra Perkins, an executive vice president at the US refiner.
* “I need my systems up more than they’re down, being able to predict that obviously saves on maintenance costs,” Perkins said on Friday while speaking at the Reuters Momentum AI conference in Austin, Texas.
* The increased availability allows for more crude to be processed by the refiner and capture more margins, Perkins said, without providing a number on cost savings.
* The Houston-headquartered company, which has about 10 refineries, has been focused on operational cost savings, particularly on the refining side.
(Reporting by Arathy Somasekhar in Houston; Editing by Nathan Crooks and Chris Reese)