Refining & Alternative Fuels
3-Day Course
Refining & Alternative Fuels
Intersection of Economics and Technology for Energy Transition
1 - 3 October 2024
KEY ISSUES TO BE COVERED
MODULE 1 (OCT 1-2)
REFINING ECONOMICS
- Petroleum Supply & Demand
- Crude Oil Physical Properties and Valuation
- Refined Product Grades and Specifications
- Renewable Fuels Markets
- Transportation Logistics
- Crude Oil and Refined Products Pricing
- Key Refining and Renewable Fuel Technologies
- Refinery Configurations: Typical vs. Marginal
- Refining Yields and Operating Costs
- Capital and Turnaround Costs
- Refinery Economic Analysis Methodologies
2 Modules Bookable Separately
MODULE 2 (OCT 3)
RENEWABLE DIESEL/SUSTAINABLE AVIATION FUEL
- Renewable Fuels Industry’s Role in Clean Energy Transition
- Trends in Evolving Global Energy Supply and Demand Balances
- Competing Renewable Diesel and/or SAF Technologies (technical requirements, licensing issues, process guarantees, carbon footprints, and construction options)
- Renewable Feedstock Supply (global supply/demand balances, pricing relationships & logistics)
- Commercial Feed Pretreatment and Technology Options
- Representative Project Economics for Renewable Diesel/SAF
ABOUT THE MODULES
REFINING ECONOMICS
As concerns over climate change mount, refiners are responding by introducing novel technologies and adaptive operating practices that result in more sustainable energy. This Refining Economics course is designed to teach the fundamentals of refining economics while also considering the transformative Energy Transition that is underway around the world. A technical background is not necessary to understand course materials. Indeed, the course has proven to be useful to staff in financing, marketing, or public relations that have some involvement with refining or petroleum products. Similarly, a marketing background is not critical and the course may be helpful to refinery engineers who would like to understand how commercial and economic factors drive operating and investment decisions that affect their refineries.
2 Modules Bookable Separately
RENEWABLE DIESEL/SUSTAINABLE AVIATION FUEL
Thanks to growing acceptance by the transportation sector and supported by commercially demonstrated, scalable technologies, renewable diesel (“RD”) and sustainable aviation fuel (“SAF”) plants are being built around the world. Leaning on years of advisory services in the sector, the course director will share his insight and real-world lessons learned for attendees interested in developing, owning, or operating a RD/SAF plant.
WHO SHOULD ATTEND
This course is designed to increase your understanding of petroleum products markets and how they interact with the refining industry and crude oil markets, and is of importance to:
- Refiners
- Sustainable Energy Developers
- Crude Oil Producers/Marketers
- Petroleum Market Analysts
- Regulators/Government Officials
- Refinery Finance Executives
- Technology Suppliers/ Innovators
- Project Developers
- Commercial Business Analysts
- Crude & Products Managers
- Products Supply and Distribution Executives
- Strategic/Business Development Managers
- Financial Institutions/Energy Lenders
- Investment Analysts
- Insurers
- Refiners of Aviation Fuels
- Airline Fuel Procurement Personnel
- Jet Fuel & Avgas Traders
- E&C Firms/Economic Feasibility Analysts
- Renewable Feedstock Suppliers/ Consolidators
COURSE DIRECTOR
Mr Tod D. McGreevy
President and Director
Muse, Stancil and Co.
Mr. Tod McGreevy has over 34 years of industry experience and a diverse background in petroleum refining and manufacturing. Mr. McGreevy currently serves as President and Director of Muse, Stancil and Co., a global energy consultancy headquartered in Dallas, Texas. He has been with Muse since 2003 and is also a Director of Muse's Singapore affiliate, Muse, Stancil & Co (Asia), PTE, LTD.
During his career, Mr. McGreevy has held various positions that encompass many of the technical/ managerial functions found in the downstream sector of the petroleum industry. Previous work assignments have given him a wealth of experience in refinery economics including tactical planning and optimization, long-term, strategic planning, project evaluation, economic justification, and development, budgeting, financial performance measurement and benchmarking, and financial modeling
COURSE OUTLINE
Session 1
- INTRODUCTION TO REFINING
- History of the industry
- Macro refining trends and drivers
- Energy Transition / Industry Response and Restructuring
- CRUDE OIL BASICS
- Regional oil consumption growth
- Global crude oil trade flow
- Global battle for oil supremacy
- Bulk crude oil property relationships with refining value
- Signature properties: API gravity and sulfur content
- Other commercial value drivers: distillation range, Total Acid Number, etc.
- Crude oil assays
- Sources and types of assays (commercial / marketing versus project/ planning quality)
- Interpreting assay data
Session 2
- PETROLEUM PRODUCTS
- Product demand trends
- Product specification relationships with value
- CRUDE OIL AND REFINED PRODUCT PRICING
- Basic petroleum and renewable market pricing concepts
- Transportation / Logistics costs
- Pricing of crude oils in Asia
Session 3
- REFINERY CONFIGURATIONS & COMPLEXITY
- Refinery configuration types
- Conversion Processes
- Hydrocracking / Fluid catalytic cracking
- Upgrading Processes
- Other Processes (Hydrogen production, Utilities and Offsites, Ethanol/Biodiesel/ Renewable Diesel/Sustainable Aviation Fuel)
Session 4
- FUNDAMENTALS OF REFINING ECONOMICS
- Fundamentals of refinery economics and margin optimization overview •
- Tactical planning applications for maximizing refinery financial performance
- Financial Metrics
- Capital costs
- Working capital requirements
Session 5
- INTRODUCTION/INDUSTRY OVERVIEW
- Global Clean Fuels Industry Drivers
- Global Energy Supply/Demand drivers and trends
- Diesel/Jet Fuel Supply/Demand
- RD/SAF PROCESS AND COMPETING TECHNOLOGIES
- Basic Process Flow
- Competing Technologies
- Typical Process Guarantees (Yields, Quality, Hydrogen Demand, Throughput, etc.)
- Greenfield Construction versus Refinery Reconfiguration (Costs, Timing, Equipment, etc)
- Typical Project Sequence
- Project Synergies that Lower Carbon Footprint (Blue/Green Hydrogen, Renewable Electricity, etc.)
- RD/SAF FEEDSTOCK
- First Use Vegetable Oils, Animal Fats, & Recycled Greases
- Supply/Demand Trends
- Pricing Relationships
- FEED PRETREATMENT OPTIONS/TECHNOLOGY
- Basic Operation
- Competing Technologies
- Justification
- PROJECT ECONOMICS
- Regulatory Requirements and Incentives around the World
- Feedstock Costs
- Product Prices
- Operating Costs
- Capital Construction and Sustaining Costs
- Pro Forma Financial Results and Metrics