It is estimated that 31-35 percent energy is used in industrial sector. Bulk of this is used in petroleum related industries. It is well known fact that the opportunities for conservation also depend on the economic and technological outlook .With fast depletion of fossil fuel and development of new technology, the concept needs to be re defined. The efficient and effective use of energy is becoming difference between good technology and average technology. Energy consumption and emission parameters are become very important aspect of modern day technological advancements. Studies such as flue gas conditioning for reducing suspended particulate matter from thermal power stations are important and representative of importance of flue gas conditioning as they carry considerable heat and contains pollutant gases. Heat Recovery, regeneration and cogeneration studies are gaining more and more importance. In power plants waste heat recovery is widely implemented practice. In oil sector, re-refining can save cost of production of considerable amount of oil. Enhanced oil recovery, heat transfer enhancements, process intensification, energy retrofit studies are widely studied areas.