This facility supplies primarily gasoline, jet fuel, and diesel to regional markets in washington and oregon. Originally built in 1955 as a shell oil refinery the tesoro anacortes, washington, refinery is located about 70 miles north of seattle. Fundamentals refinery economics overview course overview course number. Why we refine crude oil, a basic summary of the refining distillation process, and some historical perspective on the evolution of refining. Ngls from gas processing economics gas plant profitability metric frac spreads the gas plant equivalent of a refinery crack spread measure of gross profitability for gas plants calculated as the difference between the revenue from sales of ngls contained in a. Maples presents an organized look at the yield data and properties of products from refinery processes and how to use this information in performing process economics studies of various types.
Economics 101 available for download and read online in other formats. Petroleum refinery planning and economics springerlink. Oil 101 a free introduction to the oil and gas industry i this first of 10 modules, we introduce the learner to some key fundamentals of the upstream segment of the. A topping refinery is the simplest kind of oil refinery. Refinery propane butane natural gas refinery fuel gas gasoline solvents kerosene diesel heating oil lube oil greases asphalt pitch coke chemical precursors plastics, rubbers, etc. Refinery economics are largely impacted by three basic factors. Key premises and assumptions for the refinery analysis. The supply and demand for crude oil and petroleum products are key factor in determining the status of the world economy.
Optimizing the hedging strategy for oil refining companies 7 2. We, ooo kuliginskoe limited liability company as a reseller company and a representative to a major refinery in russian federation that is confirm and certify to meet to the international standard specifications to supply petroleum products such as virgin d6 fuel oil, d2 diesel oil, aviation kerosene jet fuel 54 and mazut m100 all of russian origin. Technical and economic analysis of the transition to ultralow sulfur fuels in brazil, china, india and mexico prepared for. Oil 101 introduction to refining linkedin slideshare. This oneday workshop is designed to follow on from our popular fundamentals of petroleum refining course, by focusing on the topics of refinery economics and blending. Some assumptions can be made as to what we think is going to happen in the refining industry, but the economics changes rapidly. Consideration should be given to developing a more inclusive economics, refining, and. Download the brief in pdf ereader compatible format. Lorimor recently retired after serving in a variety of positions in engineering, operations, and refinery management in over 40 years in the oil refining business. Introduction to refinery economics is an online training course that provides an overview of the economics of refining. Refinery margins refiners use several types of refinery margins to describe their profitability. Learn more 11 modules covering key segments of the oil and gas industry. Refining blending process solutions guide improving blending efficiency recommended product solution micro motion elite high temperature meters cmf300a, cmf400a mc00796 2008.
Understanding the business of processing crude oil into fuels and other value added products. Sanders, in chemical process safety fourth edition, 2015. Refineries compete to purchase oil in the global market, thus they are generally considered pricetakers rather than pricemakers. Managing the disconnect in the currency risk management strategy and financial reporting 2. The refinery economics course is a comprehensive overview of the fundamentals of the oil refining business. The economics of petroleum refining canadian fuels association. Learn vocabulary, terms, and more with flashcards, games, and other study tools. Basic petroleum economics mai 2004 ppm 2nd workshop of the china case study 2 investment decisions investment decisions are among the most important decisions that a companygovernment can take capital intensive irreversible high riskuncertainty. The office of petroleum, natural gas, and biofuels analysis pngba of the eia has been tasked to develop a dynamic representation referred to here as global hydrocarbon supply model, ghysmo of the global production, processing, transportation, distribution, and storage of natural gas and liquid fuels. Environmental protection agency program helping organizations and individuals fight climate change through superior energy efficiency. Fina 7397 03 32970 fina 4373 01 35164 petrochemical and.
Technology and economics, fifth edition kindle edition by gary, james h. Logistics block which would rely on exogenous inputs from technical. Using more expensive crude oil lighter, sweeter requires less refinery upgrading but supplies of light, sweet crude oil are decreasing and the differential between heavier and more sour crudes is increasing. Marginal refineries will typically be near breakeven economics. Oil and gas production handbook an introduction to oil. Refinery utilization rates and environmental considerations also influence refinery economics. Fractionation distillation is the separation of crude oil in atmospheric and vacuum distillation towers into groups of hydrocarbon compounds of differing boilingpoint ranges called fractions or cuts. Refinery planning and economics this session will begin with an overview of refinery economics modeling which involves the linear programming technique. Each of these margins is described and how each is applied.
Actual future conditions including economic conditions, energy demand, and energy supply could differ materially due to changes in technology. An additional factor in refining economics is crude oil sulfur content, defined to also include. The modern petroleum refinery has a series of core process units that create clean gasoline and low sulfur diesel fuel. Refineries, however, are coming under increasing economic pressure as domestic. A musthave text for process engineers, refinery schedulers, planners, and managers.
The primary focus will be on how markets, technology, finance and regulations impact the refining business profitability. Dakota prairie refinery 20,000 bpd bakken crude topping unit with diesel hydrotreating meridian energy group near belfield, nd o 49,500 bpd refinery o originally expected 2018 startup may operate on midstream tolling concept plans near bakken production mha clean fuels refinery, 15,000 bpd. Refinery operation planning factors process evaluation cost estimates. Technical and economic analysis of the transition to ultra. Fina 4373 01 35164 petrochemical and refining economics fall 2008 d. A common methodology in the oil patch is to use a prefix of m to indicate 1,000 and a prefix of mm to indicate 1 million.
Petroleum refining 101 course january 2020 in denver euci. Refining and marketing refine and get ready for endusers includes refining crude oil into petroleum products gasoline, jet fuel, heating oil, diesel, fuel oil, asphalt, etc. This two day course will offer participants a brief introduction to petroleum refining economics. Technicalandeconomicanalysisofthetransition toulsf october2012 page i table of contents 1. Due to the increase in demand of crude oil in southeast asia, there was an.
Oil 101 a free introduction to oil and gas introduction to refining this refining overview includes segments on. Since there are 50 such pairs, the answer is immediate, 5,050. Refining operations petroleum refining processes and operations can be separated into five basic areas. Economic impact and small business analysis for petroleum. We will be drilling deeper into downstream oil and gas segments, starting with refining. Contents global oil scenario indian scenario india robust economy india a global refining hub refining challenges conclusion 2. Global oil scenario country india china middle east usa. Oil 101 introduction to refining downstream oil and gas.
Oil 101 an introduction to oil and gas elearning course. Youll learn how refineries make money, and what affects their profitability. Optimizing the hedging strategy for oil refining companies. An introduction to petroleum refining and the production of ultra low sulfur gasoline and diesel fuel prepared for. Basic refinery economics in many businesses, profits or losses result primarily from the difference between the cost of inputs and the price of outputs. People are the most importantly resource in a refinery. Understanding the incidence of currency risk in oil refining operations currency risk in oil refining operations results from the. Process economics program sri international menlo park, california abstract process economics program report no.
1300 483 980 301 1151 441 297 1476 448 142 630 536 1012 1125 868 1275 260 139 282 1309 1452 1553 1260 378 1239 729 1208 1458 1262 426 174 1053 400 909 378 1144 1163 168 463 353 730 367 1358 599