• Refining Economics & Profitability Analysis
• Feedstock Valuation & Product Pricing
• Crude Assay and Yield Analysis
• Gross Margin and Netback Calculations
• Market Dynamics and Crack Spreads
• Economic Modeling and Optimization Tools (e.g., Aspen PIMS, GRTMPS)
• Strategic Decision-Making and Scenario Planning

By the end of this course, participants will be able to:

1.Understand key economic drivers in refining operations.
2.Evaluate crude oil selection and its impact on product yields and value.
3.Analyze the cost structures of refining processes.
4.Assess the impact of market prices, crack spreads, and product value.
5.Apply refinery margin calculations and profitability assessments.
6.Use economic modeling and LP (linear programming) tools for planning and optimization.
7.Develop strategies for maximizing gross refining margins (GRM) and minimizing losses.

• Refinery Economists and Planners
• Process and Operations Engineers
• Business Analysts in Oil & Gas
• Commercial and Trading Personnel
• Asset Managers and Investment Analysts
• Supply Chain and Logistics Professionals
• Financial Analysts Supporting Refinery Operations

Day 1
Fundamentals of Refining Economics
• Introduction to the Refining Industry Value Chain
• Key Refining Processes and Product Streams
• Market Drivers: Supply, Demand, and Global Trends
• Overview of Refinery Configurations and Their Economic Profiles
• Group Exercise: Evaluate a Simple Refining Value Chain

Day 2
Feedstock and Product Economics
• Crude Oil Assay Interpretation
• Feedstock Selection and Impact on Product Slate
• Product Valuation: Gasoline, Diesel, Jet, Fuel Oil, etc.
• Crack Spreads and Gross Product Worth
• Case Study: Crude Selection for Maximum Margin

Day 3
Refinery Cost Structure and Margin Analysis
• Variable and Fixed Costs in Refining
• Operating Cost Allocation and Energy Efficiency Impact
• Gross Refining Margin (GRM) and Netback Calculations
• Breakeven and Contribution Margin Analysis
• Workshop: Calculate and Compare GRMs for Different Crudes

Day 4
Planning, Optimization & Economic Tools
• Overview of Refinery Planning and Scheduling
• Linear Programming Models for Refinery Economics (Intro to Aspen PIMS)
• Scenario Planning and Sensitivity Analysis
• Impact of Turnarounds and Downtime on Economics
• Simulation: Build a Simple Economic Model

Day 5
Strategic Insights & Case Applications
• Long-Term Planning vs. Short-Term Optimization
• Risk Factors: Price Volatility, Regulation, ESG Pressures
• Strategies to Improve Profitability (Yield Shifts, Additives, Exports)
• Case Study: Integrated Margin Optimization Across a Refinery
• Final Project Presentation & Certification Exam

CDGA attendance certificate will be issued to all attendees completing a minimum of 75% of the total course duration.