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Office of Special Programs and Continuing Education
 
Petroleum Refining Economics
April 9-10 and October 1-2, 2009

 

COURSE PURPOSE
This course presents an introduction to petroleum refining economics.  The focus is on transportation fuels refineries, however petrochemical production is also presented.  The first part of the program includes an overview of crude oil and petroleum products.  This is followed with a description of refinery process technology.  Key refining technologies are described such as crude oil distillation, heavy oil conversion options, hydrotreating, and catalytic reforming. 
Oil Refinery
Photo courtesy of Phillips Petroleum

Profitable refinery operations involve many economic decisions. These include crude oil selection, production planning and product blending. The refinery planning organization typically performs these calculations, and therefore, the second part of the program presents a discussion of key refinery planning applications. This includes an introduction to linear programming, which is widely used for economic decision-making. A case study for a new refinery project is presented, and includes capital costs, operating costs and project economics. The course will conclude with a discussion of how refiners increase profitability through strategic initiatives and operation excellence.

The course will conclude with a discussion of how refiners increase profitability through strategic initiatives and operation excellence. 

COURSE OUTLINE

  • Crude oil
    Crude oil reserves, production trends and key crude oil qualities.
  • Petroleum products
    Product consumption trends and key specifications.
  • Refinery process technology
    Overview of process technology, with a focus on crude oil distillation and heavy oil conversion options. Other refineryprocesses are also covered.
  • Refinery Types, Complexity and Margins
    The major categories of refinery complexity are described alongwith their impact on refinery product slate and profitability.
  • Refinery economics modeling
    Overview of linear programming and refinery modeling
    .
  • Economic decision making for operating refineries
    Crude oil evaluation, production planning, product blending
  • Refinery project economics
    Typical steps in new refinery projects are discussed. This includes a casestudy including capital cost, operating costs, and project economics
  • Key economic factors
    How refiners gain competitive advantage via strategic positioning and operational excellence. This includes integration with petrochemicalproduction such as aromatics and olefins. Biofuels are also discussed in this session

COURSE INSTRUCTOR
Dave 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.

FOR WHOM INTENDED
Business, sales, technical, and scientific personnel with limited or no refinery experience. Technical sales personnel, involved in selling equipment or supplies to the refining industry, will benefit from this course, as well as entry-level engineering and operating personnel.

COURSE SCHEDULE
Class hours are 8:30 am to 4:30 p.m. each day; with half-hour breaks in the morning and afternoon, and a one-hour break for lunch. Check-in will begin at 8:00 a.m. the first day.

LOCATION
The class will be taught on the CSM campus. The campus is in Golden, Colorado, at the foot of Lookout Mountain, 13 miles west of downtown Denver on the Front Range of the Rockies.

REGISTRATION FEE
The registration fee is $995.00 (U.S.), which includes tuition and text materials. It does not include meals or lodging. Enrollment is limited and applications will be accepted in the order received.

You may register electronically or by sending to the address below for a brochure with registration form. The sponsor reserves the right to cancel the course and return registration fees if enrollment is insufficient. Payment and/or purchase order or training order must be mailed in additionally to complete electronic registration.

Register

Cancellations or transferring of registration fee will be charged a $150.00 fee. No refunds will be made to registrants who fail to cancel 5 working days prior to course delivery. Personnel substitutions may be made at any time without cost penalty.

COURSE CREDIT
CSM will award 1.3 Continuing Education Units (CEU’s) for participation in this course.

ACCOMMODATIONS
Registrants are responsible for making their own lodging and travel arrangements. For accommodations and travel information, visit our home page.

FOR FURTHER INFORMATION
For further information concerning the technical program, contact Dave Geddes at davegeddes@comcast.net. For registration information contact:

Office of Special Programs and Continuing Education
Colorado School of Mines
Golden, CO 80401
Phone: 303/273-3321
Fax: 303/273-3314
E-mail: space@mines.edu

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