INTRODUCTION:
This is intended to assist the participants in acquiring the information and expertise required to properly plan, change as necessary, and manage finances and costs in the oil refinery facilities. Various approaches will be given to participants so they may effectively manage the difficulties now facing enormous international refineries, running the ongoing projects while implementing cautious and sustainable expansion strategies.
Cost management refers to strategies and procedures used in budget planning and control for a corporation, facility, or enterprise. Cost management, on the other hand, can be used to enhance production procedures and be critical to oil refineries. Although successfully managing production costs and cost estimates in a refinery is a challenging task, when properly monitored and regulated, it can be a useful tool for assessing the performance of individual refinery units.
Course Objectives
After finishing this course, the participants are expected to have mastered to:
- Control cost and manage it effectively
- Evaluate and manage prices
- Asses price volatility
- Analyze prices volatility to make improved decisions
- Utilize the latest tools in cost management and estimation
- Evaluate and determine the costs that are associated with your organization
- Determine different methods that are used by individual streams of costs in refinery processes
- Use energy-saving techniques effectively to develop and run energy-saving projects
- Improve and enhance the production and management of refinery costs by utilizing different cost estimation tools
Organizational Benefits
Organizations will benefit by:
- Improving cost estimation, control and management
- Being better prepared to manage budges and support cost controls
- Improving their production, sustainability, and profits
- Improving staff intercommunications in matters related to management
- Increasing the knowledge base and increasing financial awareness among the staff who will be possessing the relevant skills learnt from this course
- Improving commitment to the process of developing budgets for cost estimation and control
- Improving adaptability to changes rapidly in the dynamic business world
- Operational and strategic goals alignment
Personal Benefits
- Improved appreciation synthetic index that affects production costs and how they impact the refineries directly
- Great understanding of dealing with strategic and operational risks
- Updated technologies and concepts of dealing with cost control and management
- Enhanced competency in making strategic and operational decisions
- Gaining practical concepts for developing and allocating cost structures in a refinery process unit
- Familiarisation with cost analysis software that is highly effective
- Increased knowledge and understanding of all phases of cost control and management
- Knowledge of the state of the art and international cost management and control methods
- Recognition by the respective organisation for professional learning and commitment
- Improved ability to participate and lead cost management initiatives
- Immersive learning environment challenge to development great cost control skills
Who Should Attend?
This course will interest the following professionals:
- Refining Oil & Gas Field Engineers
- Process Plant Energy Managers / Coordinators
- All Professionals working in Production, Planning and Scheduling
- Blending Professionals
- Financial Analysts
Course Outline
Module 1: Best practices
- Cost analysis and control
- Expenditure monitoring
- Analysis of variance and reporting
- Activity-based costing processes, job order, and process costing
- Cost and value evaluation and analysis
Module 2: Cost management overview
- Energy and its relation to refinery profitability
- Energy control benchmarking
- Costing methodology for steam, power, and fuel
- Energy balance and refinery materials
- Cost management and control introduction
- Cost control and application
- Resources planning
- Cost estimation methods
- Budgeting in regard to cost
Module 3: Costing essentials
- Cost control responsibilities allocation
- Price volatility within the refinery sector
- Income statement examination in detail
- Identification of KPIs in cost control and management
- Cost control culture and how to implement it in an organization
- Cost of sales calculation in the refinery sector
Module 4: Crude oil refinement
- Maintenance costs
- Refining investments
- Refining costs
- Size and complexity
- Key process units
- The global situation in refinement
- Logistics and location
- Types of refineries
- Process utilization in a refinery
Module 5: Cost management and estimations
- Costs reducing incentives
- Fixed costs reduction
- Cost behavior
- Variable costs
- Fixed costs
- Controlling fixed costs
- Cost classifications
- Cost reduction by using inventory control methods
- Analysis of cost volume profit method
Module 6: Process unit operational costs
- Advanced process control and its advantages
- Process simulation
- Process enhancement
- Bottom of barrel upgrading
- Hydrocracking
- Hydro treating
- Fluid catalytic cracking
- Catalytic reforming
- Separation of crude and processed oil costs
Module 7: Cost management and hedging
- Price volatility hedging
- Risk definition and management
- Options, swaps, futures, and forwards
- Hedging methodologies and techniques
- Cost identification together with risk identification
- Hedging to reduce or eliminate risks
Module 8: Economic evaluation
- Optimization of steam power systems
- Planning on margins according to regions
- Net refining margins
- Gross refining margins
- Cost estimation
- Netback and refinery complexity
- Fuel loss quantification and oil accounting
- Refinery utility system
- Factors influencing margins
- Energy efficiency
Module 9: Project management and cost management
- Risks management in projects
- Costs effective management skills
- Critical path analysis
- Efficiency of time and quality within budget constraints
- Statistical estimates
- Earned value management
Module 10: Process integration and equipment efficiency
- Pinch introduction
- Heat integration working mechanism
- Heat availability curves
- Equipment efficiency
- Process heat integration and effects on overall costs management and controls
- Rotating equipment
- Heat exchangers
- Fired heaters
- Energy focus in an organization and how to optimize to get maximum results and profits
- Software used in process simulation and how efficient their results are
- Cost estimates for equipment efficiency and terotechnology
Method of Instruction
Online
Course Duration:
3 days
Type of Certificate Issued:
On a successful completion of this training, Participants will be issued
Certificate in Crude Oil Refinery Plant Cost Estimation and Management
Participants can choose to have their certificate in any of the three options below:
- Digital Certificate (Downloadable (PDF)
- Physical Certificate with security marking shipped to your location with a price
- Framed Certificate with security markings shipped to your location with a price.
REGISTRATION