The third edition of API RP 754 refining and Petrochemical Industry Process Safety Performance Indicators has been published in August 2021

The standard identifies a number of advanced and lagging process safety indicators to aid performance improvement.  As a framework for measuring various activities, states or performance, the standard divides into four levels indicators that represent advances and lags in process safety.  The first and second levels are suitable for public release, while the third and fourth levels can be used as internal evaluation indicators of enterprises.  The standard also provides guidance on methods for developing and using performance indicators.  

The standard is designed for the refining and petrochemical industries, but it also applies to other industries where vessel damage can cause injury to operating systems and processes.  This standard is not limited to those facilities specified in OSHA 29CFR1910.119 or similar national and international regulations.