The seminar will engage attendees with practical, hands-on examples to illustrate Solomon’s unique approach to the intricacies of marginal economics and the workings of LP models.
Dallas, TX (PRWEB) April 16, 2015
Solomon Associates (Solomon), the leading performance improvement company for the global energy industry, announced today that Senior Consultant Joe Barth will lead two seminars this month at Solomon’s corporate headquarters in Dallas, TX. The Fundamentals of the Petroleum Downstream Industry (FoPD) seminar will be held on April 21, 2015. The second seminar, The Refinery Economics Seminar (RES), will be held on April 22–23, 2015.
Both seminars are offered through Solomon University, a technical and management training resource for industry professionals. Solomon University’s curriculum is based on an unrivaled library of industry best practices, proven methodologies, and real-world experience. Solomon University provides an ongoing series of public and private seminars held around the world.
In the FoPD seminar, participants learn the basics of the refining business as they gather a deeper understanding of the function and operation of a typical oil refinery. The course is open to all professionals working within the refining industry. Participants will learn:
- Industry terms and jargon
- Industry structure
- Basic refinery chemistry
- Function of every major refinery process unit
- Refinery profit drivers
- Key trends in the refining industry
“Those participating in this seminar will walk away with invaluable insight into the industry,” said Barth. “The course will improve their understanding of the physical properties of hydrocarbons and review how refinery process units manipulate these molecules to increase value. We aim to provide participants with a clear understanding of the profit drivers in the downstream industry.”
The second seminar, RES, covers the economic and optimization skills needed to maximize refinery profit. This seminar is designed for professionals looking for a deeper understanding of best practices in the development of refinery and petrochemical operating plans. 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 Linear Program (LP) models
- How to evaluate crude and feedstock purchase opportunities
- How to evaluate incremental product sales
- Limitations of shadow values
- Planning and optimization (P&O) best practices
“The seminar will engage attendees with practical, hands-on examples to illustrate Solomon’s unique approach to the intricacies of marginal economics and the workings of LP models,” said Barth. “We will also explore best practices for P&O.”
Barth joined Solomon in 2004 and is an expert in refinery P&O with more than 30 years of experience in the petrochemical industry. He holds a bachelor of science in chemical engineering from Auburn University and a master of science in engineering from the University of Houston.
For more information or to register for the seminars, please visit http://solomononline.com/solomon-university/.
Courses are scheduled annually around the world and can be delivered directly to a company’s location. Interested organizations can contact Joe Barth directly by telephone at +1.972.739.1790 or by email at Joe.Barth(AT)SolomonOnline.com
About Solomon Associates
HSB Solomon Associates LLC (Solomon) is the leading performance improvement company for the global energy industry. Solomon’s benchmarking and consulting solutions help customers across the energy value chain achieve operational excellence by increasing efficiency, reliability, and profitability. Solomon also provides forecasting and advice on the North American gas market. Solomon’s proprietary analytics uniquely transform data into insight for making better business decisions. Based in Dallas, TX USA, Solomon is part of The HartfordSteam Boiler Inspection and Insurance Company (HSB). Learn more at SolomonOnline.com.