Two-day sessions in Europe, the U.S. and Asia focus on following industry best practices to maximize profitability.
DALLAS (January 31, 2011) – Solomon Associates, the leading performance improvement company for the global energy industry, announced that it will offer three Refinery Economics Seminars this spring to help operators improve profitability. The two-day events will be held April 7-8 in Munich, Germany; April 27-28 in Dallas; and May 16-17 in Singapore.
“In today’s refining market, profit opportunities can be difficult to find. But by implementing and following best practices, operators give themselves the best chance to increase profitability,” said Joe Barth, senior consultant for Solomon Associates, who will lead the sessions.
The seminars will cover the economic and optimization skills needed to maximize refinery profit. Practical, hands-on examples will be used to illustrate Solomon Associates’ unique approach to the intricacies of marginal economics and the workings of linear programming (LP) models. In addition, participants will learn about planning and optimization best practices.
Topics covered in the seminars include:
• Differences between average and marginal costs
• How to calculate refinery netback prices
• Why a “herd mentality” is so common in the industry
• How to use LP models to guide decision-making
• How to evaluate crude and feedstock purchase opportunities
• How to evaluate incremental product sales
• Limitations of shadow values
• Planning and optimization best practices
• Case studies on value of crude oil, value of cracker feed, and optimizing gasoline production
“These seminars are for anyone who takes part in the development of refinery operating plans or helps decide business strategy,” Barth said. “They are not just for ‘economic analysts’; they are also for crude and feedstock traders, product marketers, supervisors, and process engineers.”
No prior knowledge of refinery economics or use of LP models is required to participate in the seminars. To register or learn more about any of the three events, please contact Karen Black at (972) 739-1775 or klb (at) solomononline.com.
About Solomon Associates
Based in Dallas, HSB Solomon Associates LLC is the world’s leading performance improvement company for energy companies seeking to identify and close gaps in operational performance. Combining proven, patented methodologies with objective data analysis, and led by a team steeped in hands-on operational experience, Solomon Associates consistently helps clients with energy-intensive assets achieve greater efficiencies, enhanced reliability, and improved margins. Solomon Associates is part of HSB Group, Inc. To learn more about Solomon Associates, visit www.solomononline.com.
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