Economic assessment of commercial bio-lubricant production from vegetable oils
Keywords:
Bio-lubricant, Soybean oil, Palm fatty acid distillate, Economic feasibilityAbstract
Lubricants are essential petroleum products in any industrial production. Therefore, the possibility of bio-lubricant production from vegetable oil to replace petroleum lubricants was studied. The objectives were to construct a process model of the bio-lubricant production from soybean oil and palm fatty acid distillate using the ASPEN Plus program. Then the economic feasibility of the proposed process was assessed. The bio-lubricant production process comprised converting triglyceride to free fatty acid, concentrating unsaturated fatty acid, and molecular modifying of unsaturated fatty acid to ester or bio-lubricant. The economic assessment showed that if 918 kg/hr of soybean oil and 696 kg/hr of palm fatty acid distillate were used as raw material, 1814 kg/hr of bio-lubricant or 2-ethylhexyl ester was produced. According to the profitability calculation, the net present value (NPV) was 12.60, the internal rate of return (IRR) was 15.24%, and the pay-back period was 4 years within 3 months.
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