Petroleum Refining 101

January 30-31, 2024 | Live Streaming Online

A Program

Click Here to register $1295

If you are unable to attend at the scheduled date and time, we make recordings available to all registrants for three business days after the event

The Petroleum Refining 101 course is designed to teach the fundamentals of refining technology, starting with the history of refining and diving into crude oil basics, petroleum products, product pricing, configurations, and more.

Attendees will leave the course with an understanding of:

  • The supply chain and the relationships between bulk crude oil property and refining value
  • Sources and types of crude oil assays, as well as crude oil’s supply and demand trade (regional and global)
  • Petroleum products and basic market pricing concepts, including location drivers, key pricing differentials, and Gross Product Worth
  • Transportation and logistics costs when it comes to modes of transportation, pipeline tariffs, and handling
  • Configuration types, conversion processes, upgrading processes, and other processes to be aware of (offsites, utilities, and renewable fuel)
  • An in-depth review on refinery configurations and complexity

At the adjournment of the Petroleum Refining 101 course attendees will feel more comfortable having educated conversations with their colleagues and clients. Discounts start at 20% off when you register a team of five or more!

Learning Outcomes  

  • Review the history of the refining industry, as well as its trends, drivers, roles, and contributors
  • Examine the differences between gasoline, distillate, and fuel oil
  • Identify basic petroleum market pricing concepts (i.e., benchmarks, values, differentials, formulas, etc.)
  • Review the costs associated with transportation, logistics, tankers, terminals, and handling  
  • Assess refinery configuration types (topping, cracking, etc.) and conversion processes



9:00 a.m. – 5:00 p.m. Central Time

Introduction to Refining

  • History of the industry
  • Macro refining trends and drivers
  • Supply chain roles and contributors

Crude Oil Basics

  • 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
  • Understanding crude oil supply/demand trade
    • Regional oil consumption growth
    • Global crude oil trade flow
    • Global battle for oil supremacy

Petroleum Products

  • Product demand trends
    • Gasoline
    • Distillate
    • Fuel oil (IMO 2020 developments)
  • Product specification relationships with value

Crude Oil and Refined Product Pricing

  • Basic petroleum market pricing concepts
    • Benchmarks
    • Quality / location drivers
    • Crude oil refining values (Gross Product Worth)
    • Key pricing differentials (light / heavy; sweet / sour, etc.)
    • Overview of commercial pricing formulas
  • Transportation / logistics costs
    • Modes of transportation
    • Worldscale tanker costs and pipeline tariffs
    • Terminal and handling costs


9:00 a.m. – 5:00 p.m. Central Time

Refinery Configurations and Complexity

  • Refinery configuration types
    • Topping / Hydro-skimming
    • Cracking / Coking
    • Relative margins
  • Conversion processes
    • Hydrocracking / Fluid catalytic cracking
    • Coking
    • Vis-breaking / Solvent de-asphalting
  • Upgrading processes
    • Hydrotreating / Benzene reduction
    • Catalytic reforming & Isomerization
    • Alkylation
  • Other processes (offsites, utilities, renewable fuel)


Mr. Tod D. McGreevy, Vice President/Director, Muse, Stancil and Co.

Mr. Tod McGreevy has 30 years of industry experience and a diverse background in petroleum refining and manufacturing. Mr. McGreevy currently serves as Vice 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.