Solomon University

Refinery Economics Seminar

This course covers the economic and optimization skills needed to maximize refinery profit. Practical, hands-on examples are used to illustrate Solomon’s unique approach to the intricacies of marginal economics and the workings of Linear Program (LP) models. In addition, attendees will discuss Planning & Optimization best practices.

Participants will learn:

  • The difference between average and marginal costs
  • How to calculate netback prices
  • Why the “herd mentality” is so common
  • How to use LP models
  • How to evaluate crude and feedstock purchase opportunities
  • How to evaluate incremental product sales
  • Limitations of shadow values
  • Planning and optimization best practices

Presented by Joe Barth

As a Senior Consultant, Joe has been with Solomon since 2004. His career includes 33 years with ExxonMobil, where he specialized in the planning and optimization of refining petrochemical complexes. Joe has a Bachelor of Science in Chemical Engineering from Auburn University and a Master of Science in Engineering from the University of Houston.

Who Should Attend

The course is intended for anyone who takes part in the development of refinery/petrochemical operating plans or helps decide business strategy.

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