The Center for Professional Advancement, Houston, TX
February 28-29, 2008
Who Should Attend
This introductory course is designed for individuals who want to acquire an understanding of refinery economics. The course will benefit individuals relatively new to the refining industry, as well as individuals with experience in the industry that do not have a good understanding of overall refinery economics. The course will be of interest to individuals in the following industries:- Petroleum Refining
- Petroleum Refining Technology Providers
- Oil Producers
- Crude Oil and Products Traders
- Petrochemical Industry
- Financial Industry
- Insurance
- Government/Regulators
- Engineering and Construction
Description
This introductory course will present an overview of a modern petroleum refinery. This will include crude oil characteristics, refinery process technology, and petroleum products and specifications. After this introduction, the class will be presented with a case study to illustrate how refiners determine refinery project economics for new refineries and will include calculation of capital cost and operating costs. Most major economics decisions for refineries are done using linear programming modeling systems. The second day of the course will provide an introduction to linear programming and a description of how refinery economic models are built using linear programming methods. This will be followed by a session describing how linear programming models are used for a number of economic decisions such as crude oil evaluations, production planning and product blending and pricing. This session will include class problems. The final session of the course describes how refiners gain competitive advantages.
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