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Planning & Economics of Refinery Operations

EAV/PERO
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Who should attend?

  • This course provides a better understanding of the essential elements of refinery operations in order to review the various parameters which affect refinery profitability and to develop a working knowledge of the management tools used in the refining industry.
Audience :
  • Technical, operating and engineering personnel working in the refining industry, trading and commercial specialists, independent consultants, process licensors, catalyst manufacturers and refining subcontractors.

Level : Proficiency

Course Content

  • TECHNICAL OVERVIEW

      • Brief technical presentation of the main refining units: distillation, conversion, etc.
      • Refinery scheme evolution.

  • REFINERY MARGINS & COSTS

      • Refinery margins and costs: definitions and evolution worldwide.
      • Notion of break-even point.
      • Unit margins and intermediate product valuation.
      • Case studies: crude oil arbitrage, Fluid Catalytic Cracking (FCC) unit margin.

  • REFINERY BLENDING SIMULATION

      • Case study: managing the blending operation of a refinery taking into account the economic and technical (product specifications, capacities, etc.) constraints.

  • OPTIMIZATION OF REFINING OPERATIONS - LINEAR PROGRAMMING

      • 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: explanation 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.

  • CRUDE OIL ASSESSMENT & SELECTION

      • Different methods to assess a crude: netback value, method of the complementary crude.
      • Case study: crude oil ranking using a LP model.

Learning Objectives

  • Upon completion of the course, participants will be able to:
  • assess the latest trends in product specifications, and refining schemes,
  • calculate product value, refinery margins and process unit margins,
  • simulate and to optimize refinery operations, crude oil selection and product manufacturing,
  • analyze the results of an linear programming model optimization.

Ways & Means

  • Case studies and exercises derived from present refinery situations.
  • Economic optimization using Excel.
  • Quiz.