5 days EAV/ROM
- Managerial staff, supply planners, oil economists and personnel in charge of supply, planning, programs and product blending
- To provide an in-depth understanding of the techniques used for decision making operations concerning supply and refining
- Upon completion of the course, participants will be able:
- to optimize refinery operations, crude oil selection and crude oil selection
- to analyze the results of a linear programming model optimization
- to help optimizing a planning, from preparation of optimal monthly programs up to daily operation scheduling
Ways and means
- Case studies and exercises derived from present refinery situations
- Economic optimization using Excel software and the solver
Oil markets and trading 0.25 day
- Oil supply and demand fundamentals and evolution
- Petroleum physical trading (spot, forward)
- Crude oil and petroleum product pricing: benchmark, quality differential, etc.
- Financial trading (futures) and hedging strategies for a refiner
Refining context 0.5 day
- World petroleum product demand
- Refining supply: overcapacity, types and quantity
- Main challenges: deep conversion, new product specifications, petrochemical integration, environment, etc.
- Projects and perspectives
Refining margins and costs 0.75 day
- Refinery margins and costs: definitions and evolution worldwide
- Unit margins and intermediate product valuation
- Case studies: crude oil arbitrage, Fluid Catalytic Cracking (FCC) unit margin
Optimization of refining operations – Linear programming 2.5 days
- Linear programming (LP) principles: linear equation, objective function, profit maximization or cost minimization, Simplex method, graphic interpretation, etc.
- Analysis of the LP results: optimum properties, marginal costs, domain of validity of the results, etc.
- Case study on Excel: parametrization and preparation of a refinery model matrix (material balances, product specifications, utilities consumption, objective function, etc.); team work on the optimization of a cracking refinery and on the result analysis
Optimization of refinery operations – Scheduling 1 day
- Principles of refining management: constraints, operations organization
- Monthly program to daily operations
- Optimization of margins from different process units
- Case study: management of typical sequential constraints (delays, processing problems, etc.)