Environmental protection agency program helping organizations and individuals fight climate change through superior energy efficiency. Fundamentals of petroleum refining 1st edition elsevier. It is easy to be cynical about economics, which can be imperial and condescending and irritating in its tendency to look for the lost keys under the streetlight. An introduction to petroleum technology, economics, and politics. Originally built in 1955 as a shell oil refinery the tesoro anacortes, washington, refinery is located about 70 miles north of seattle. Midstream business characteristics midstream participants.
The supply and demand for crude oil and petroleum products are key factor in determining the status of the world economy. Case studies and exercises derived from present refinery situations. Dec 04, 2015 oil 101 a free introduction to the oil and gas industry i this first of 10 modules, we introduce the learner to some key fundamentals of the upstream segment of the oil and gas industry. Besides covering topics like catalytic cracking, hydrocracking, and alkylation, this volume has chapters on waste water treatment and the economics of managing or commissioning the design of a petroleum refinery. You can use the book in whichever formats you want. Oil and gas production handbook an introduction to oil. Refinery economics is a subject about which there are many questions. The economics of petroleum refining canadian fuels association. Eia petroleum refineries proposed amendments to the. The subject of this paper is not just refinery economics transportation research record 999 9.
Learn vocabulary, terms, and more with flashcards, games, and other study tools. Found only in this volume is material on operating a. Found only in this volume is material on operating a jointly owned and operated refinery. Gasoline blending course refinery automation institute, llc. An additional factor in refining economics is crude oil sulfur content, defined. However i wish it could be updated by the authors or other scholars interested in petroleum industries. The principles of free market economics, which can easily serve as a onesemester economics course for high schoolers with some supplementation. Each refinery has a unique physical configuration, as well as unique operating characteristics and economics. We are now using a free internetbased textbook although you can order a print version at low cost. The first oil refinery unit is crude oil desalting. In the refining industry, the density of an oil is usually expressed in terms of api gravity, a parameter whose units are degrees o api e. Economics 101 cuts out the boring explanations, and instead provides a handson lesson.
Refineries process crude oils, which have different types of hydrocarbons with carbon chains of different lengths, into a broad range of refined products. Considered to be a growing field, urban economics concentrates on the crossover areas between real estate or land use and legal tender. This book was written with the intention of being an indepth, easy to. This book is about the technical side of turning crude into saleable products and how the processes have evolved to produce more and more petrolgasoline from a barrel of crude. The mises daily articles are short and relevant and written from the perspective of an unfettered free market and austrian economics. The modern petroleum refinery has a series of core process units that create clean gasoline and low sulfur diesel fuel. This is why companies using the fc method utilize large cost centers. Introduction to refinery economics is an online training course that provides an overview of the economics of refining. Successful completion of econ 101 serves as a prerequisite for many other economics courses, including econ 102. Petroleum refining 101 course january 2020 in denver euci. Mar 10, 2020 hillsdale college has produced a free economics course, economics 101. But do you really know how our nations economy works or how it affects your pocketbook.
From quantitative easing to marginal utility, this primer is packed with hundreds of entertaining tidbits and concepts that you wont be able to get anywhere else. Petroleum engineering in nontechnical language by norman hyne 5. People are the most importantly resource in a refinery. Some assumptions can be made as to what we think is going to happen in the refining industry, but the economics changes rapidly. With its latest free textbook, rice universitybased openstax college is going where no openeducation publisher has gone before. Strategies for achieving optimal gasoline blending by. In planning the refinerys daytoday operation, these blending techniques.
The refining process separates, breaks, reshapes and recombines the molecules of crude oil into valueadded products such as gasoline, diesel and aviation fuel. Mar 20, 2014 with its latest free textbook, rice universitybased openstax college is going where no openeducation publisher has gone before. Further, operating and capital costs are discussed for economic evaluation of both single processes and complete. Basic petroleum economics mai 2004 ppm 2nd workshop of the china case study 2 investment decisions investment decisions are among the most important decisions that a companygovernment can take capital intensive irreversible high riskuncertainty. The refinery also manufactures heavy fuel oils, liquefied petroleum gas, and asphalt. A musthave text for process engineers, refinery schedulers, planners, and managers. A refinerys configuration and performance characteristics are determined primarily by the refinerys location, vintage, availability of funds for. This midstream module includes the following sections use the links below for quick access. A textbook example was the significant price differential. Buy petroleum refining in nontechnical language 4 by william leffler isbn. This oneday workshop is designed to follow on from our popular fundamentals of petroleum refining course, by focusing on the topics of refinery economics and blending.
Following, he was with kerr mcgee refining corporation as an operations manager and a refinery manager at their plant in wynnewood, oklahoma. Due to the increase in demand of crude oil in southeast asia, there was an. Refinery utilization rates and environmental considerations also influence refinery economics. This latest edition of a bestselling text provides updated data and addresses changes in refinery. Written for a broad audience of laymen and students, the mises daily features a wide variety of topics including everything from the history of the state, to international trade, to drug prohibition, and business cycles. Oil 101 a free introduction to the oil and gas industry i this first of 10 modules, we introduce the learner to some key fundamentals of the upstream segment of the.
Shale oil, gas, oil and gas, consumer economics, oil refinery, oil and gas industry. Course eavreo economic optimization of refining operations. The book covers important topics, such as clean fuels, gasification, biofuels, and. Access study documents, get answers to your study questions, and connect with real tutors for econ 101.
Youll learn how refineries make money, and what affects their profitability. Even economists love to hate basic economics lately. Feb 17, 2015 contents preface iii 1 introduction 1 1. Purchase fundamentals of petroleum refining 1st edition. American petroleum institute, basic petroleum data book. If youre looking for a book on refinery planning, scheduling, oil accounting, economics forget it. Oil 101 explains the nuts and bolts of the oil business, from its composition on a molecular level, to an analysis ofmarket players. William lefflers petroleum refining in nontechnical language, fourth edition is designed to give the reader an overview of key refining topics by using relevant analogies, easytounderstand graphs, formulas, and illustrations.
This two day course is intended to offer participants a brief introduction into petroleum refining economics. This book is about the technical side of turning crude into. Using more expensive crude oil lighter, sweeter requires less refinery upgrading but supplies of light, sweet crude oil are decreasing and the differential between heavier and more sour crudes is increasing. The course includes a final exam and a certificate of completion for those who pass, although no college credit is awarded. Fundamentals refinery economics overview course overview course number. The economics of a refinery depend upon the mix of crudes processed crude slate, the complexity of the refinery processing units, and the desired output mix. After the refinery is built, it is expensive to operate.
This two day course will offer participants a brief introduction to petroleum refining economics. Many people who work in the oil and petrochemical industries are active in fields. Buy petroleum refining technology and economics 5 by mark j. Estimating the economic impacts of any regulation on the petroleum refining industry. Walters 1978, a standard microeconomic theory textbook, for a discussion. Oil 101 an introduction to oil and gas elearning course.
An average refinery would follow what is known as the 321 crack spread. This midstream content is derived from our oil 101 midstream ebook and can be found in our oil and gas learning community. Going beyond the simple ideas of land placement and utilities, urban economics takes into account such city issues as crime, education, public transit, housing, and local government finance. In the early days of the petroleum refining industry, simple distillations were used to produce desired gasoline and kerosene products, with up to so percent of the crude oil feedstock being discarded.
Refinery planning and economics this session will begin with an overview of refinery economics modeling which involves the linear programming technique. That surprised me at first because theres no obvious reason why it would be more popular than the others. Principles of economics, available online today, is openstax colleges first book for an introductory course with an annual u. A crash course in the study of production and consumption. Sep 29, 2003 besides covering topics like catalytic cracking, hydrocracking, and alkylation, this volume has chapters on waste water treatment and the economics of managing or commissioning the design of a petroleum refinery. This book describes the petroleum industry, in easytounderstand language. Learn more of gasoline and diesel blending attending our training courses. Economics 101 cuts out the boring explanations, and instead provides a handson lesson that keeps you engaged as you explore how societies allocate their resources for maximum benefit. Maples presents an organized look at the yield data and properties of products from refinery processes and how to use this information in performing process economics studies of various types. Marginal refineries will typically be near breakeven economics. It is an excellent book because it considers all economic aspects of the petroleum industry. In recent years, this industry has made a great deal of effort to increase the yield of high octane products, minimize waste, and im. This facility supplies primarily gasoline, jet fuel, and diesel to regional markets in washington and oregon. Introduction to oil and gas midstream what is midstream.