Introduction and objectives

Introducing the topic - The Concept of Refinery Economics

Industry Challenges

• Changing crude slate
• Overcapacity and new players
• More stringent regulations

Evaluating regional players and their positions

• Markets
• Operating environment
• Assets

Global Energy, Global Oil

Crude Oil, Characteristics, Pricing

• Quality relationships
• Assay, Crude Evaluation

Products and Characteristics

• Product Markets

Oil Refinery, Configurations, Yields

Introduction to Profitability

• Margin, Crack Spread
• Refinery expenditures

Adding Value

• Refiner’s Flexibility and Operational Options
• Planning and scheduling
• Decision making hierarchy
• Tools:
• Simulation, LP model

Excellence in Refining

• Benchmarking of key areas
• CAPEX – Effective investing, value creation, capital cost, economic criteria
• OPEX – what do the pacesetters do?
• Intro to Operational Excellence

Marginal Economics

• Marginal valuation
• Cost of marginal energy
• Cost of marginal quality
• Exercise – an intermediate stream value

Profit improvement procedures

• Approach to profit improvement
• Seeing the big picture
• The Process Review – a key activity

Yield Optimisation

• Objectives, potential
• Improvement Projects – identification and benefits
• Road Map

Energy cost reduction

• Energy Efficiency and Refinery Margin
• Benchmarking and Gap Analysis
• Built-in Process Inefficiencies
• The Importance of Steam & Power System
• The Importance of Equipment Efficiency
• Heat Integration for high energy efficiency

Improving RAM

Managing Oil Loss

Improving Planning and Scheduling

Realising the Benefits, Managing Change

Petrochemicals Integration

Models of Refinery Integration

Operational Excellence Management Systems (OEMAS)

Effective Use of Big Data

• Advances in Process Control
• Machine Learning
• The Digital Workplace

Knowledge Management

• The Cloud of Knowledge
• Capturing and retaining talent
• Developing internal expertise

Industry Outlook

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