Economics of Petroleum Refining

Course Objectives

  • Understanding the fundamentals of World-wide crude oil supply and demand
  • Being familiar with refinery process technologies
  • Learning the Impact of market demand and crude oil quality on refinery configuration
  • Learning How do refiners select crude oils
  • Understanding the Options for increasing refinery profitability.
  • This course presents a broad introduction to petroleum refining technology and economics. The focus is on transportation fuels refineries, petrochemical production and biofuels are also discussed.
  • The program includes an overview of crude oil supply and petroleum product demand. This is followed with a description of refinery process technology.
  • Describe Key refining technologies such as crude oil distillation, heavy oil conversion options, hydrotreating, and catalytic reforming

Who Should Attend? 

  • Engineers who have limited refinery experience
  • Oil refining personnel
  • Petrochemical producers
  • Managers / Executives in oil refinery suppliers

Course Content

Day 1

  • Introduction to Petroleum Refinery Economics
  • How Oil Markets Work
  • Refinery Economics Fundamentals, Terminology and Techniques
  • Historical Crude Oil and Product Pricing

Day 2

  • Process Unit Yield Data and Correlations, Process Modeling
  • Economics for Individual Units and Refinery
  • Blending Economics
  • Crack Spreads and Refining Margins

Day 3

  • Optimizing in a Changing Product Demand and Quality Environment
  • Petroleum Products
  • World-wide Crude Oil Supply and Demand
  • Economic Drivers from Crude Oil, Products, Key Process Units

Day 4

  • Important petroleum product demand trends
  • Overview of refinery process technology
  • Impact of market demand and crude oil quality on refinery configuration
  • Refinery/petrochemical integration

Day 5

  • Refinery margin calculation
  • How do refiners select crude oils
  • Case study of new grassroots refinery
  • Options for increasing refinery profitability

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