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Planning & Economics of Refinery Operations

4 jours EAV/PERO
  • Technical, operating and engineering personnel working in the refining industry, trading and commercial specialists, independent consultants, process licensors, catalyst manufacturers and refining subcontractors
  • To enable delegates to understand the essential elements of refinery operations and investment economics, to review the various parameters which affect refinery profitability and to develop a working knowledge of the management tools used in the refining industry
  • Upon completion of the course, participants will be able:
  • to assess the latest trends in product specifications, and refining schemes
  • to calculate product value, refinery margins and process unit margins
  • to simulate and to optimize refinery operations, crude oil selection and product manufacturing
  • to analyze the results of an linear programming model optimization
  • to evaluate the profitability of a new process unit
Les + pédagogiques
  • Case studies and exercises derived from present refinery situations
  • Economic optimization using Excel
  • Quiz

Technical overview 0.25 jour
  • Brief technical presentation of the main refining units: distillation, conversion, etc.
  • Refinery scheme evolution
Refining industry 0.5 jour
  • World petroleum product demand and evolution of the crude oil supply
  • Refining supply: overcapacity, types and quantity
  • Main challenges: deep conversion, new product specifications, petrochemical integration, environment, etc.
  • Projects and perspectives
Refinery margins and costs 0.75 jour
  • 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
Refinery blending simulation 0.5 jour
  • 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 1 jour
  • 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
Investment profitability studies 1 jour
  • Value creation and capital cost, cash flows, discounting principle and inflation impact
  • Standard global profitability analysis: cash flow schedule, economic criteria (net present value, internal rate of return, etc.)
  • Introduction to risk analysis
  • Exercises on various investment profitability studies for refineries and petrochemical plants
Calendrier des formations 2016
Langue Dates Lieu Prix Inscription
18 - 21 Oct London 3 200 £ En ligne Par email