Benchmark (operations)

Operations benchmarks are measures of typical industry performance on specific operational dimensions. These are used to compare an individual refinery's operational performance against the rest of the industry to identify areas of strength and weakness.

Benchmarks are used on a wide variety of operational measures, including:

Benchmarks are typically either average values for the whole industry or for quartiles reflecting best to worst performance groups.

Benchmarks are typically normalized for the size and complexity of the refinery to provide more meaningful comparison.

In refining, the industry standard set of benchmarks is compiled by Solomon Associates and is used widely across the industry, around the world.

The Refinery Reference Desk includes content derived from our industry experts as well as from public data sources such as company websites. Nothing herein is intended to serve as investment advice. This material is based on information that we believe to be reliable and adequately comprehensive, but we do not represent that such information is in all respects accurate or complete. McKinsey Energy Insights does not accept any liability for any losses resulting from use of the content.

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