Petroleum Refining 101
Live Streaming Online December 12-13, 2022
A BankWebinars.com Program
Click Here to register ($1195)
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 then diving into crude oil basics, petroleum products, product pricing, configurations, and more. Attendees will learn about the supply chain and the relationships between bulk crude oil property and refining value. Sources and types of crude oil assays will be discussed, as well as crude oil’s supply and demand trade (regional and global). Those who attend the course will leave with an understanding of petroleum products and basic market pricing concepts, including location drivers, key pricing differentials, and Gross Product Worth.
The agenda will also highlight transportation and logistics costs when it comes to modes of transportation, pipeline tariffs, and handling, and the course will wrap up with an in-depth review on refinery configurations and complexity. In this final section, discussion will focus on configuration types, conversion processes, upgrading processes, and other processes to be aware of (offsites, utilities, renewable fuel).
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
- Discuss basic petroleum market pricing concepts (i.e., benchmarks, values, differentials, formulas, etc.)
- Recognize the costs associated with transportation, logistics, tankers, terminals, and handling
- Study refinery configuration types (topping, cracking, etc.) and conversion processes
Agenda
Monday, December 12, 2022
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
Tuesday, December 13, 2022 : CENTRAL TIME
9:00 a.m. – 12:00 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)