For Immediate Release:
Austin, TX (May 13, 2020) – JP3 Measurement, LLC, is pleased to announce it is working with Phillips 66 to launch a revolutionary data service solution which could deliver considerable savings to refined fuel producers, transporters and distribution terminal operators.
Pipeline losses due to off-spec product, commonly known as interface transportation mix or “transmix,” occur when natural mixing happens between adjacent batches of different fuels being shipped in a common pipeline. This mixed product cannot be sold as gasoline, jet fuel or diesel and must be routed to a special tank where it is sold at a significantly reduced price and then transported for reprocessing. Within the US refined fuel pipeline system there is a substantial amount of value lost due to excess transmix generation.
By combining JP3’s revolutionary real-time analysis capabilities and data systems with Phillips 66 Pipeline’s midstream process knowledge, Industry-wide transmix losses could be reduced by as much as 50%.
“JP3 is very excited to enter this joint initiative with Phillips 66 to bring the combined benefits of our organizations to the refined fuels market,” stated Matt Thomas, JP3 CEO. “Phillips 66 is a major customer of JP3 and together, we are enthusiastic about delivering new efficiency solutions that, even in these unprecedented times of market uncertainty, demonstrate the power of real-time compositional data to generate increased profits. ”
The solution will be delivered as an all-inclusive data service plan requiring no up-front investment by the end user. Built upon JP3’s powerful combination of advanced hardware and chemometric modeling capabilities and utilizing near infrared spectroscopy, JP3 provides data and analysis capabilities for oil & gas applications. The inherent design of Verax products provides measurement speeds well beyond competitive technologies along with much higher reliability and lower maintenance costs.
Learn more at: www.jp3.com
Press release pdf located here.
Verax TM is a trademark of JP3 Measurement, LLC.
About JP3 Measurement
Headquartered in Austin, Texas, JP3 Measurement was founded in 2005 and provides the industry’s only field deployable, real time, in-line optical analyzer for both liquid and natural gas measurement. With hundreds of measurement points in the field, JP3 is focused on improving the quality of hydrocarbon measurement and process control for the Oil & Gas industry. For more information, please visit www.jp3measurement.com or contact Gregg Williams, EVP Sales and Marketing. +1.512.537.8450 [email protected].