Tank accounting involves the recording, calculation, and reconciliation of oil and raw material quantities in storage tanks within a refinery or tank farm. Actual inventories are compared with booking data to capture accurate quantity and value information. Continuous monitoring using flow meters and level sensors tracks tank levels and material movements in real time, detecting discrepancies.
Predictive analytics leverages historical data and current readings to forecast inventory changes, enabling optimised inventory management and accurate accounting. This combination enhances transparency, efficiency, and cost-effectiveness in tank accounting.
The boTec solutions for oil & gas supports tank accounting through real-time monitoring and reconciliation of inventory and booking data, ensuring precise inventory management and optimised storage operations.