Petroleum Refining Economics

Refining economics involve a number of factors. These include crude oil quality, refinery configuration and crude and product prices. The first part of the program includes an overview of crude oil supplies and pricing. This is followed with a description of refinery process technology and the impact of refining processes on refining economics. Major refining technologies are described such as crude oil distillation, heavy oil conversion options, hydrotreating, and catalytic reforming. Refinery economics are then discussed, along with various factors that can impact overall economics, such as complexity and size.

Although oil refineries have many similarities, each refinery is customized to most profitably refine available crude oils and supply the market. Profitable refinery operations involve many economic decisions, such as crude oil selection and production planning. The final day includes a discussion of the linear programming technique, which is used for these important business decisions and a description of key economic decisions made by refinery operators.

RefComm® - Petroleum Refining Economics

Mon-Tue, May 8-9 2017

Register $1,495Brochure & Prices PDF

You Will Learn

  • Crude oil supply and price fundamentals
    • World-wide crude supply
    • Crude oil price fundamentals
  • Petroleum products
    • Product demand trends
    • Product specifications
    • Product pricing
  • Crude oil quality
    • Crude oil composition
    • Bulk crude oil properties
  • Crude oil separation
  • Refining process technology
    • Conversion processes
    • Upgrading processes
    • Supporting processes
    • Petrochemicals
  • Refinery types, complexity
    • Refinery types
    • Nelson complexity index
  • Refinery Economics
    • Refinery margins
    • Economy of scale
    • Logistics
    • Integration
  • Refinery Planning
    • Linear programming
    • Crude oil assays
    • Refinery modeling
    • Planning applications
      • Crude oil evaluation
      • Production planning
      • Product blending
      • Shutdown planning
      • Configuration studies

Who Should Attend

In addition to oil refining company personnel, other individuals who interact the industry will benefit from this course, finance, insurance, and petrochemical producers. A technical background is not required for course participants.



Your Instructor

Dave GeddesDave Geddes is an economics and planning consultant for the refining and petrochemical industry. His previous experience includes 20 years at Bechtel Corporation. He has worked on feasibility studies and economic evaluations of oil refineries and petrochemical plants in the United States, Asia, the Middle East, and South America. While at Bechtel he also managed the group that developed, marketed, and supported the PIMS linear programming system that is now widely used for refinery and petrochemical economic studies and other planning applications. Mr. Geddes received a B.S. in Petroleum Refining from the Colorado School of Mines, and an M.S. in Chemical Engineering from the University of Colorado.


Payment is due prior to the start of the seminar by Visa, Master Card, American Express, bank wire transfer or corporate check. Training fees will be charged to your credit card at the time of registration unless other arrangements have been made. Make checks payable to “ Inc”.

Refund Policy

Fees are fully refundable until April 17, 2017 (three weeks before the event), after which a $200 USD fee will be charged for cancellations. Registering for this training course prior to April 17, 2017, will help maximize the probability that the course will proceed as planned.  Cancellations after May 1, 2017 (1 week before class until 24 hours before class) are charged a 50% fee. All other cancellations and no-shows are non-refundable.  Substitutions are allowed.  Submit all cancellations and transfers in writing, by email or by fax.

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