The necessity of risk management evaluations in petrochemical industries

The study looked at the need to manage risk in the petrochemical industry due to the horrific events of recent accidents such as India s Bhopal (with 4,000 killed), Ukraine s Chernobyl (with 38 killed), Flixborough, England (With 28 people killed) and Italy s Seveso (with a gas mass released from the blast 6 km long and 1 km wide) (Flixborough Vapor Cloud Explosion). Recent events have drawn public attention to the chemical industry and various risks involved in the petrochemical industry, and then as a result have increased the need for systematic safety analysis of various processes in the chemical industry. According to the International Labor Organization, 5,000 people die every day in the world due to accidents and work-related illnesses and 4% of the world s GDP per year, or 51.53, 1.3 and 2 percent, respectively. Millions of US dollars are spent on direct and indirect costs of work-related illnesses and accidents, which is 20 times more than the total international aid for development of third world countries