THE IMPACT OF COST-BENEFIT ANALYSIS TO REUSING PETROLEUM REFINING INDUSTRY WASTE IN LIGHT OF CIRCULAR ECONOMY

Document Type : Original Article

Authors

1 Faculty of Graduate Studies and Environmental Research, Ain Shams University

2 Faculty of Commerce, Ain Shams University

3 Faculty of law, Ain Shams University.

4 Misr Fertilizers Production Company - Mobco

Abstract

The research addresses one of the vital issues in the petroleum refining sector in Egypt, highlighting the environmental and economic challenges resulting from the massive amounts of waste generated by this industry. Refining waste, such as solid, liquid, and gaseous waste, is one of the largest sources of environmental pollution due to its hazardous pollutants. These challenges reflect the increasing pressures facing companies, both locally and internationally, to adopt more sustainable policies aimed at reducing environmental emissions and maximizing the economic benefit from resources. Therefore, the research aimed to identify the importance of the cost-benefit analysis approach for reusing waste generated by the petroleum refining industry in Egypt, and the potential for implementing a circular economy to achieve sustainable economic and environmental benefits. The researchers relied on a descriptive analytical approach. A questionnaire was designed for application to several petroleum companies in Egypt. The study sample included employees working in petroleum refining companies. The questionnaire data included an assessment of waste management costs and the returns resulting from reuse, in addition to measuring the environmental impact of these processes. The results showed that implementing circular economy practices can improve operational efficiency and reduce negative environmental impact. Furthermore, applying cost-benefit analysis considering the circular economy achieves clear economic benefits, represented by reduced operating costs and increased financial returns. The researchers recommended developing infrastructure, strengthening legislative policies, and providing the necessary support for companies to adopt sustainable economic practices.
 

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