However, enforcing multivariate stochastic dominance constraints can often be overly conservative in practice. As an alternative, we focus on the widely applied risk measure conditional value-at-risk ...

Multivariable predictive control technology increased oil and gas production by 4% from BP PLC's Marlin tension leg platform (TLP) in the Gulf of Mexico.

Moreover, using the BH bounds we derive three new safe tractable approximations of chance constraints of increasing computational complexity and quality. In a numerical study, we demonstrate the ...

The advanced control implementation included multivariable controllers and optimizers in all the major process units in both refineries and a separate oil movements and blending optimization project.