Honeywell International Inc.
) recently disclosed that Chinese oil and gas company
PetroChina Co. Ltd.
) will deploy more of its advanced information management and
process modeling software tools across various locations in the
country. The extensive deployment of Honeywell information
solutions, currently in use at 13 PetroChina facilities, is
likely to help China narrow the increasing demand-and-supply gap
for chemicals and transportation fuels.
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According to the U.S. Energy Information Administration, China is
the world's largest consumer of energy and the second largest
consumer of crude oil behind the U.S. The East Asian titan is
also projected to become the world's largest importer of crude
oil in the current year.
Consequently, in order to drive efficiency at its refining and
petrochemical facilities, the state-owned oil and gas company
intends to utilize Honeywell's Refining and Petrochemical
Modeling System (RPMS) and Intuition Executive advanced
information management software. These software will enable plant
operators to better monitor operations across the organization
and provide real-time information to improve profitability and
In 2005, PetroChina had first deployed RPMS at its headquarters
in Beijing and 12 other refineries and petrochemical facilities.
The company aims to replicate that success to 17 other sites
across the country to cover all its refining and petrochemical
businesses. The project is expected to be completed within two
Honeywell also continues to embed software into its products and
services to improve the product development process. The company
is focused on the global achievement of CMMI (Capability Maturity
Model Integration) Level 5 accreditation, which will improve the
quality and efficiency of its software development. Together with
other key process enablers such as the Honeywell Operating System
(HOS), Functional Transformation (FT) and Velocity Product
Development (VPD), the company is well poised to drive organic
growth while expanding its business in new geographical regions.
Honeywell currently has a Zacks Rank #2 (Buy). Other stocks that
look promising and are worth looking into now include
), both carrying a comparable Zacks Rank #2 (Buy).