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

• Understand key economic concepts in refining
• Identify major cost and revenue drivers
• Understand refinery margins and profitability
• Link operational performance to financial results
• Support better decision-making using simple economic thinking
• Recognize market factors affecting refinery performance

• Process Engineers
• Operations Engineers
• Planning & Scheduling Engineers
• Finance & Commercial Staff
• Supervisors and Team Leaders

• Classroom-based lectures
• Group discussions
• Q&A sessions

Day 1: Basics of Downstream Economics

Topics:

• What is downstream (refining & petrochemicals) economics
• Value chain overview: crude to finished products
• Key terms:
• Revenue
• Cost
• Profit margin
• How refineries make money

Outcome:
Clear understanding of how refinery economics works in simple terms.

Day 2: Revenue & Pricing

Topics:

• Main refinery products (diesel, gasoline, jet, etc.)
• How product prices are set (market-based)
• Supply and demand basics
• Price differences between products
• Importance of product mix

Outcome:
Understanding of how revenue is generated and affected by product prices.

Day 3: Costs in Refining

Topics:

• Major cost elements:
• Crude oil cost (main cost)
• Operating costs (energy, chemicals, maintenance)
• Fixed vs variable costs
• Impact of efficiency on cost reduction
• Simple examples from refinery operations

Outcome:
Ability to identify key cost drivers and how they impact profitability.

Day 4: Refining Margins & Optimization

Topics:

• What is refining margin
• Gross margin vs net margin
• Role of crude selection
• Importance of unit performance (conversion, yield)
• Maximizing high-value products

Outcome:
Understanding of how operational performance affects profit margins.

Day 5: Decision Making & Market Impact

Topics:

• Linking operations to economics
• Simple decision examples:
• Increasing severity vs cost
• Changing product slate
• Market factors:
• Crude price changes
• Demand shifts
• Best practices for improving economic performance
• Course summary & discussion

Outcome:
Ability to connect daily operations with business results and make better decisions.

After completing the course, participants will receive a CDGA completion certificate.