Originally built in 1955 as a shell oil refinery the tesoro anacortes, washington, refinery is located about 70 miles north of seattle. From quantitative easing to marginal utility, this primer is packed with hundreds of entertaining tidbits and concepts that you wont be able to get anywhere else. The first oil refinery unit is crude oil desalting. Strategies for achieving optimal gasoline blending by. Jaspal singh india head and director of operations. Understanding the incidence of currency risk in oil refining operations currency risk in oil refining operations results from the. Refinery economics is a subject about which there are many questions. North dakota refining capacity study, final technical report. 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. A topping refinery is the simplest kind of oil refinery.
Petroleum engineering in nontechnical language by norman hyne 5. Havard devold oil and gas production handbook an introduction. An introduction to petroleum technology, economics, and politics. Optimizing the hedging strategy for oil refining companies 7 2. Learn more 11 modules covering key segments of the oil and gas industry. Because oil and gas are less dense than water, which occurs in huge quantities in the earths subsurface, oil and gas migrate through. 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. In a highly competitive, low margin, and currently low refinery utilization market, this could mean the difference in keeping a refinery running or shutting it down. Costs of complying with emissions regulations particularly no x. People are the most importantly resource in a refinery. The text also provides a detailed introduction to refinery engineering topics, ranging from the basic principles and unit operations to overall refinery economics. Sanders, in chemical process safety fourth edition, 2015. To prepare for intermediate economics courses prerequisites introduction to macroeconomics econ 100 required textbook principles of microeconomics, n.
Understanding the incidence of currency risk in oil refining operations currency risk in oil refining operations results from the inherent dollarized nature of the business. Openstax college is riding a wave of change in the college textbook market. World refinery utilization world refining capacity 2010 usa 20% others 47%. Refinery utilization 83 84 82 84 86 87 86 86 85 81. Download it once and read it on your kindle device, pc, phones or tablets. Claar and klay cover economic theory and policy, while also uncovering how christian. Public interest research group found that 70 percent of college students said they had skipped purchasing a textbook at least once because the price was too. 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. Attributed to libby rittenberg and timothy tregarthen. Economics 101 cuts out the boring explanations, and instead provides a handson lesson that keeps you engaged as you explore how societies allocate their resources for maximum benefit. Economics is the study of scarcity and choice in response to incentives. Too often, textbooks turn the noteworthy details of economics into tedious discourse that would put even joseph stiglitz to sleep.
Fundamentals of petroleum refining presents the fundamentals of thermodynamics and kinetics, and it explains the scientific background essential for understanding refinery operations. Feedstock costs primarily crude oil fuel costs and other operational costs for the refinery itself. The instructors approach is applied, practical and broad, providing you with the background necessary to tackle and understand a variety of problems. Gregory mankiw, 4th edition, thomsonsouthwestern, 2007 grading grading will be based on the following. The refinery also manufactures heavy fuel oils, liquefied petroleum gas, and asphalt. Oil refineries produce valueadded petroleum products from crude oil.
Refinery blending typically consists of gasoline and diesel product blending and can be considered the cash register of the refinery. Companies typically follow a number of recovery methods to prolong the. Many people who work in the oil and petrochemical industries are active in fields. That surprised me at first because theres no obvious reason why it would be more popular than the others. An additional factor in refining economics is crude oil sulfur content, defined to also include. Marginal refineries will typically be near breakeven economics. The overall economics or viability of a refinery depends on the interaction of three key elements. Our books about petroleum, gas and oil focus on their economical and environmentally safe production. As of today we have 110,518,197 ebooks for you to download for free.
Aug 03, 2012 common sense economics, by james gwartney, richard l. 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. Reads like a chemical engineering manual but its very comprehensive and interesting if you are. A musthave text for process engineers, refinery schedulers, planners, and managers. If youre looking for a book on refinery planning, scheduling, oil accounting, economics forget it. The crack spread, of course, is not a perfect measure of refinery profitability. The book consists of 10 chapters summing up the basic spheres of economic theory. Basic refinery economics in many businesses, profits or losses result primarily from the difference between the cost of inputs and the price of outputs. Technical and economic analysis of the transition to ultralow. Refining process services was founded in 1985 to meet the need for an independent source of. 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. Optimizing the hedging strategy for oil refining companies. 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.
Refinery economics are largely impacted by three basic factors. From consumer behavior to competitive marketseverything you need to know about economics adams 101. This two day course will offer participants a brief introduction to petroleum refining economics. 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. Economics 101 principles of microeconomics spring 2016 dr. Some assumptions can be made as to what we think is going to happen in the refining industry, but the economics changes rapidly. Economics will be used as a conceptual tool to organize your understanding of the industry. The primary focus will be on how markets, technology, finance and regulations impact the refining business profitability. Rent petroleum refining technology and economics, fifth edition 5th edition 9780849370380 and save up to 80% on textbook rentals and 90% on used textbooks. Economics is the primary link between basics of petroleum. Common sense economics, by james gwartney, richard l.
This facility supplies primarily gasoline, jet fuel, and diesel to regional markets in washington and oregon. Fundamentals refinery economics overview course overview course number. The economics of petroleum refining canadian fuels association. A textbook example was the significant price differential. Expand kent distillation by 34 mbpsd on cdu 101 and 50 mbpsd on.
Introduction to petroleum economics is about the process of gathering project data, calculating whether a project should proceed and delivering recommendations. Refinery oil refinery petrochemical scribd read books. No annoying ads, no download limits, enjoy it and dont forget to bookmark and share the love. In planning the refinerys daytoday operation, these blending techniques and, when applicable. Use features like bookmarks, note taking and highlighting while reading economics 101.
Public interest research group found that 70 percent of college students said they had skipped purchasing a textbook at least once because the price was too high. An introduction to petroleum refining and the production of ultra low sulfur gasoline and diesel fuel prepared for. 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 gas stream as liquid and their value if left in the gas. Oil 101 explains the nuts and bolts of the oil business, from its composition on a molecular level, to an analysis ofmarket players. Global oil scenario country india china middle east usa. The modern petroleum refinery has a series of core process units that create clean gasoline and low sulfur diesel fuel. These free textbooks range from facts about the 2010 bp oil spill to fundamentals of engineering thermodynamics. Profitability is thus determined by several different variables. Refinery utilization rates and environmental considerations also influence refinery economics. Contents global oil scenario indian scenario india robust economy india a global refining hub refining challenges conclusion 2. 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.
This book is about the technical side of turning crude into. American petroleum institute, basic petroleum data book, section viii, table 11, august. Chemicals derived from petroleum or natural gas petrochemicals are an essential part of the chemical industry today. Fuels refining is an integral component of canadas oil and gas value chain. Summary of course outline n economic criteria n development economics n property valuation. Oil and gas production handbook an introduction to oil. What it really measures is whether the refinery will make money at the margin i. This book describes the petroleum industry, in easytounderstand language. In principle the book covers the whole range of problems discussed in the general economics course.
579 942 213 259 1535 245 1059 1391 1182 1509 698 735 830 158 1019 1477 918 1192 337 1529 764 672 704 648 1055 1055 395 754 1362 722 1244