Refining Economics Singapore

 A 2 Day Course on

Refining Economics

Gain an In-Depth Understanding of How Refineries Make Money and What Affects Refining Investment

12 June 2024 to 13 June 2024, Singapore



The Refining Economics course is designed to teach fundamentals of refining economics to non-refiners or to those newly introduced to refining. A technical background is not necessary to understand course materials and the course should be useful to financing or marketing individuals who have some involvement with refining or petroleum products. Similarly, a marketing background is not critical and the course may be helpful to refinery engineers who would like to understand how commercial and economic factors drive operating and investment decisions that affect their refineries.

Key Issues to be Covered

Supply & Demand

Petroleum & Refinery Economics Analysis & Methodologies

Crude Oil

Physical Properties & Valuation

Refined Products

Grades & Specifications


Renewable Fuel Markets Analysis


Logistics of Transportation 


Crude Oil & Refined Products


Key Refining Technologies

Refinery Configurations

Typical vs Marginal

Cost & Yields

Operational Costs, Capital & Turnaround Costs

Course Director

Mr. Tod D. McGreevy

Muse, Stancil & Co.

Mr. Tod McGreevy has over 31 years industry experience and a diverse background in petroleum refining and manufacturing. Mr. McGreevy currently serves as President and Director of Muse, Stancil and Co., a global energy consultancy headquartered in Dallas, Texas. He has been with Muse since 2003 and is also a Director of Muse’s Singapore affiliate, Muse, Stancil & Co (Asia), Pte. Ltd.

During his career, Mr. McGreevy has held various positions that encompass many of the technical/managerial functions found in the downstream sector of the petroleum industry. Previous work assignments have given him a wealth of experience in refinery economics including tactical planning and optimization, long-term, strategic planning, project evaluation, economic justification, and development, budgeting, financial performance measurement and benchmarking, and financial modeling.

Who Should Attend


Commercial, Investment, Economic, Market

Business Managers

Refiners, Project Developers, Technology Suppliers


Legal, Financial, Audit, Insurers

Corporate Executives

Policy Developers, Economists


Regulators, Policy Makers


Bankers, Financial Institutions

Why You Should Attend

  • Understand how location, configuration and crude oil supply contribute to refining profitability
  • Identify new refinery project opportunities and learn how to maximize their commercial value
  • Discover how to develop new opportunities and reduce their operating, technical, and commercial risks
  • Find out how refinery configurations affect petroleum product prices worldwide
  • Improve your understanding of the role logistics plays in refinery profitability
  • Learn how to interpret published information on the refining industry and refining companies
  • Identify key methods of comparing refinery competitive strength.
  • Understand the nature of petroleum markets, market cycles, and their global interconnectivity
  • Discover how refineries can be modified to become more profitable
  • Learn why refineries prefer different types of crude oils
  • Find out how trends in petroleum demand force refineries to invest
  • Hear about key issues driving refinery investment in the current market

Programme at a Glance

  • Introduction to Refining
  • Crude Oil Basics


  • Product Demand Trends
  • Product Specification Relationship with Value


  • Basic petroleum market pricing concepts
  • Transportation / Logistics costs
  • Pricing of crude oils in Asia



  • Refinery configuration types
  • Conversion Processes
  • Upgrading Processes
  • Other Processes (offsites, utilities. petrochemical, renewable fuel)

Day 2 -Session 4

Fundamentals of Refining Economics

  • Fundamentals of refinery economics and margin optimization overview
  • Tactical planning applications for maximizing refinery financial performance
  • Financial Metrics
  • Capital costs
  • Working Capital Requirements

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Get In Touch With Us!

+65 6338 0064