About this Training Course 

Our Refining Economics course aims to promote a better understanding of the key refinery business performance levers, and the techniques and tools used to optimise and improve business performance. It is intended for Supply and Refinery Business Analysts and Refinery technical support engineers with at least 1-2 years of refinery experience and some understanding of refinery operations and blending. Participants will improve their understanding of the principles of refinery optimisation, and how refinery raw materials, intermediate streams and products are produced, blended and valued.

 

Course Description

The Refining Economics course includes lectures, worked examples, and working in groups to provide answers to some complex stream valuation questions.  Upon completion of this course, participants will have gained a broad understanding of the many economic aspects of oil refining. There will be ample opportunities for attendees to interact with the speaker and other participants to exchange knowledge and ideas relating to refinery optimisation and profit improvement.

This course differs from economics courses offered by others in focusing on the economic drivers on which day-to-day and longer term operational decisions are based.  It will help analysts to understand the economics that are provided by linear programs, and how streams are valued.  No longer will analysts answer management questions with the response “Because the LP says so!”

By the end of this course, participants will be able to:

  • Have a thorough understanding of the factors that contribute to the marginal value of blendstocks and feedstocks.
  • Understand how streams should be distributed to ensure the optimum economic operation of an oil refinery within the many constraints that affect production
  • Understand crude oils and other raw materials
  • Have an overview of the key refinery processes, and critical product qualities and blending methodology
  • Know the meaning and extent of the economic information that can be obtained from an LP solution

The programme is designed for anyone who is concerned with better understanding refinery economics, and will be especially valuable to:

  • Analysts working in a Supply environment or a refinery planning department
  • Engineers involved in troubleshooting and technical service work who need an economic perspective of process unit operation
  • Personnel from product marketing companies
  • LP modellers
  • Service and consulting companies will also find the program very helpful and informative.