Practical, hands-on examples help illustrate our unique approach to the intricacies of marginal economics and the workings of Linear Program (LP) models.
Dallas, TX (PRWEB) September 24, 2014
Solomon Associates, the leading performance improvement company for the global energy industry, announced today that Senior Consultant Joe Barth will lead two refining seminars in October 2014 at Solomon’s Corporate Headquarters in Dallas, Texas. The one-day course titled “Fundamentals of the Petroleum Downstream Industry” (FoPD) will take place on October 7. The two-day “Refinery Economics Seminar” (RES) is scheduled for October 8–9.
The courses 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.
“Managers today face mounting pressure and uncertainty. These refinery courses can help them more effectively navigate their challenges and identify potential profit opportunities,” said Barth. “Practical, hands-on examples help illustrate our unique approach to the intricacies of marginal economics and the workings of Linear Program (LP) models.”
The Fundamentals of the Petroleum Downstream Industry course is open to anyone working in the refining industry. Participants will learn:
- Industry terms and jargon
- Industry structure
- Basic refinery chemistry
- Functions of each major refinery process unit
- Refinery profit drivers
- Key trends in the refining industry.
The course will improve attendees’ understanding of the physical properties of hydrocarbons and teach them how refinery process units manipulate the molecules to increase value.
The Refinery Economics Seminar covers the economic and optimization skills needed to maximize refinery profits. It provides participants with knowledge on topics including:
- 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.
No prior knowledge of refinery economics or LP models is required to attend RES.
“Our courses are intended for any decision-maker who takes part in the development of refinery operating plans,” said Barth, who has 33 years of experience in the planning and optimization of refining and petrochemical complexes. “The breadth of information is valuable to everyone from product marketers to process engineers.”
Interested companies can learn more about or register for the FoPD course by visiting http://solomononline.com/solomon-university/fundamentals-of-the-petroleum-downstream-industry-seminar/.
For more information or to register for RES, please visit http://solomononline.com/solomon-university/refinery-economics-seminar/.
Courses are scheduled annually around the world and can be delivered to a company’s location, if desired. Organizations or industry professionals can contact Joe Barth by phone at +1.972.739.1790 or by email at Joe(dot)Barth(at)SolomonOnline(dot)com to obtain additional information on either course offering.
About Solomon Associates
HSB Solomon Associates LLC is the leading performance improvement company for the global energy industry. Solomon’s benchmarking and consulting solutions help customers across the energy value chain to 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 HSB Group, Inc. Learn more at SolomonOnline.com.