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Process Plant and Refinery Operational Economics, Planning and Profitability

Dates Venues Register
02/02/2025 - 06/02/2025 DUBAI

Introduction

Course Objectives:

Upon the successful completion of this course, each participant will be able to:-

  • Apply a comprehensive knowledge in operational economics, planning and profitability of modern oil refineries
  • Discuss the concepts of operational profitability including gross refining margin (GRM), net refining margin and contribution margin
  • Determine refinery configuration covering topping, hydroskimming, cracking, full conversion and niche products
  • Identify and carryout planning objectives including production plans, selecting feedstock, feasibility, optimality, optimal product mix, marginal economics, investment opportunities and planning versus scheduling
  • List the various planning tools, employ blending methods and illustrate process models
  • Enumerate modeling tools covering simple stock balances (spreadsheet), linear programming (LP’s), non-linear programming (NLP’s), distributed error recursion and integer programming
  • Identify the various model types pertaining to blending, multi-refinery and distribution, single refinery and time period
  • Describe key crude and product qualities as well as crude and product pricing
  • Illustrate practical refinery modeling covering simple LP construction, pooling problem, delta-base modeling, convexity constraints, marginal values or shadow prices, crude ranking and evaluation as well as weight and volume basis
  • Recognize market dynamics covering the supply and demand vise as well as global versus local markets
  • Manage risk using term contracts, hedging and risk versus reward
  • Employ performance measures covering benchmark margin analysis, model validation and back-casting 

Who Should Attend

 This course provides an overview of all significant aspects and considerations of refinery operational economics, planning and profitability. Planning engineers, process engineers, production engineers, scheduling engineers, marketing engineers and estimation engineers will definitely benefit from the practical approach of the course. Finance managers, commercial managers, estimation managers, section heads, supervisors and refineries/process plant consultants will gain an excellent knowledge from the operational aspects of this course.

 

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