Petroleum economics net present value internal rate of. Reliable automation based on integrated offline and online advanced optimization tools is the key to achieve the refinerys true potential. The book covers important topics, such as clean fuels, gasification, biofuels, and environmental impact of refining, which are. Basic refinery economics in many businesses, profits or losses result primarily from the difference between the cost of inputs and the price of outputs.
Petroleum refining technology and economics fifth edition pdf. Basic petroleum technology principles this program will be delivered virtually through petroacademy providing participants with the knowledge they need at their convenience. Its purpose is to develop an understanding of the technology and its applications at an. Apart from fundamentals and various refinery operations, this book also contains various uop processes, technology developments and description of production equipments. Request pdf refinery economics the supply and demand for crude oil and petroleum products are key factor in determining the status of the world economy. A topping refinery is the simplest kind of oil refinery. Chapter 8 petroleum for the foreseeable future, oil will remain a critical fuel for the united states and all other industrialized nations. Petroleum refinery planning and economics springerlink.
This paper aims at clarifying the central role of refinery planning and. In addition to covering the basics, the course will discuss the constantly changing petroleum dynamics around the globe, and how that alters the value of the entire supply chain. Petroleum fuels supply 95 per cent of canadas transportation fuel needs. The economics of petroleum refining canadian fuels association.
Amercian petroleum institute, basic petro eum data book, jan uary 1983. Petroleum industry personnel who would like to develop or increase their knowledge in basic economic analysis and profitability assessment economics is the primary link between decision making and profitable operations and it is one of the four pillars of the oil and gas industry the other three being geology, engineering, and. Essential components of an economic impact analysis are supply. Based on the fundamentals of thermodynamics and kinetics, the text develops the scientific background needed to. This two day course will offer participants a brief introduction to petroleum refining economics. Pdf petroleum refining processes download ebook for free. Economics drives the entire oilgas producing industry. Petroleum economics distance learning training course. Petroleum industry in general, the products which dictate refinery design are relatively few in number, and the basic refinery processes are based on the largequantity products such as gasoline, diesel, jet fuel, and home heating oils. Most of these rules are selfexplanatory, but notes on a few of those items, which.
Basic petroleum technology principles virtual, blended learning. Production and maintenance of wells and facilities to recover and bring the crude oil andor raw natural gas to the surface plant and to process the produced hydrocarbons. Petroleum refining technology and economics fifth edition. The economics of petroleum refiningthe economics of petroleum refining basic refinery economics permitting and building a new mediumsized refinery is a 57 year process. Petroleum economics free download as powerpoint presentation. This program combines a survey course, designed for anyone interested in the economics of the petroleum refining industry, with a more indepth look at opportunities to improve refinery profit margins. By going through 62 faqs in chapter 9, a layman can understand the basic aspects of petroleum refinery. The certificate in petroleum economics is the ideal course for both individuals and corporate groups to develop this crucial knowledge. Petroleum refining has evolved continuously throughout the years. Basic knowledge and techniques for performing investment analysis use the tools and concepts on petroleum investment projects a field development project an exploration project be able to understand the concepts used and do the economic calculations needed in the case study. Understanding the business of processing crude oil. It is ideal for refinery planning personnel, refinery engineers, product marketers and those in refinery coordination groups. Fundamentals of petroleum refining download ebook pdf.
Refinery economics are largely impacted by three basic factors. The text also provides a detailed introduction to refinery engineering topics, ranging from the basic principles and unit operations to overall refinery economics. Petroleum refining and the prod uction of ulsg and ulsd october 24, 2011 page 1 1. Holstein, editor vi emerging and peripheral technologies.
In physical science terminology, energy is the capacity for doing work, e. Mitchell, editor iii facilities and construction engineering kenneth e. Petroleum refinery jobs and economic development impact nrel. Written by experts with both academic and professional experience in refinery operation, design, and evaluation, petroleum refining technology and economics, fifth edition is an essential textbook for students and a vital resource for engineers. Understanding the business of processing crude oil into fuels and other value added products. Arnold, editor iv production operations engineering joe dunn clegg, editor v reservoir engineering and petrophysics edward d. The book covers important topics, such as clean fuels, gasification, biofuels, and environmental impact of refining, which are not commonly discussed in most refinery textbooks. Presentday refineries produce a variety of products including many required as feedstock for the petrochemical industry. Whereas commercial decisionmaking technology has provided converged solutions for refinery planning and scheduling. Petroleum production, transportation, refining inside minesavailable for free at this web page 35.
Simple refineries, those whose technology is limited to a basic distillation. Petroleum refining processes and economics for non. This chapter is divided more or less into three parts. Economic evaluations are also performed to determine reserves and the standardized measure of value for reporting purposes for publicly held companies. The sessions will be presented by a knowledgeable, experienced industry professional who is wellversed in all of the major processing areas of petroleum refining.
This book provides a thorough and balanced introduction to refinery engineering topics, from basic concepts and unit operations to overall refinery economics, planning and control. This article presents basic aspects related to the economic evaluation process. Petroleum refining processes and economics for non technical. Fundamentals of petroleum refining provides a thorough and balanced introduction to refinery engineering topics, from basic concepts and unit operations to overall refinery economics, planning and. An overview of refinery operations, safety, processes and economics become familiar with the equipment of a refinery. Economic evaluation of petroleum projects basic aspects. This includes the direct, indirect and induced economic impacts to the local economy. For petroleum industry clients he has also worked all over the world. Introduction this tutorial addresses the basic principles of petroleum refining, as they relate to the produc tion of ultralowsulfur fuels ulsf, in particular gasoline uls g and diesel fuel ulsd. Make better business decisions this course provides basic information and insights into the refining economics industry. Petroleum dynamics around the globe, and how that alters the value of the entire. Petroleum refining processes are the chemical engineering processes and other facilities used in petroleum refineries also referred to as oil refineries to transform crude oil into useful products such as liquefied petroleum gas lpg, gasoline or petrol, kerosene, jet fuel, diesel oil and fuel oils refineries are very large industrial complexes that involve many different processing units. Petroleum economics net present value internal rate of return.
Because the design and construction of new processing units entail several years lead time, refiners are reluctant to commit these dollars for equipment that may no longer meet certain conditions when the units come on stream. Introduction to petroleum economics is about the process of gathering project data, calculating whether a project should proceed and delivering recommendations. Refinery propane butane natural gas refinery fuel gas gasoline solvents kerosene diesel heating oil lube oil greases asphalt. It discusses the science of petroleum economics, starting from squareone, the tools of the trade that petroleum economists use, day in and day out, and also its application. Finally, the basic economics associated with refining and the effects of recent environmental regulations on product processing will be examined. Petroleum refinery engineering download ebook pdf, epub. Introduction to crude oil and petroleum processing of this hand. 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.
Petroleum refiners must face billiondollar investments in equipment in order to meet everchanging environmental requirements. This tutorial addresses the basic principles of petroleum refining, as they relate to the production of. The primary focus will be on how markets, technology, finance and regulations impact the refining business profitability. Economic evaluation of petroleum projects basic aspects dr. Evaluating the economic performance of the petroleum refining industry is. The course covers the industry fundamentals, crude oils, refined products, refinery margin calculations and technology, refining configurations. Almost every decision is made on the basis of an economic evaluation. Basic petroleum engineering practices overview this course is far more than an introduction to petroleum engineering and certainly is not a super. Petroleum economics is one of the most influential players in the world economy, so having a comprehensive understanding of this vital area is key for anyone working within the oil and gas or energy industries. All learning activities are selfpaced and can be completed at any time. This program will be delivered virtually through petroacademy providing participants with the knowledge they need at their convenience.
Ronnie has a bachelors degree in business and economics from trinity college, dublin 1978 and an mba from stanford university 1985. Economic evaluation is an essential step for assessing and studying and selecting new petroleum projects which involve different activities. Upstream is a term used in the oil industry which refers to the searching for, the recovery and production of crude oil and natural gas. Expanded basic petroleum economics training course. Fundamentals of petroleum refining download ebook pdf, epub. Comparison of petroleum refining industry energy use and production output. The first part section refinery operation planning deals with the planning of a refinerys operation, which includes its optimized crude runs, product slate, and any process expansion or debottlenecking that may be required to meet this optimized operation.