Refining Economics: A Multi-Day Virtual Course

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

Location: Virtual

Venue: N.A.

Starts: 18 Nov 2020

Ends: 24 Nov 2020

Type: Virtual

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Announcement: Refining Economics (RE) Course Goes Virtual and will be delivered online in a 4.5-hour daily session over 4 days including a half-hour break daily

Session 1: 18 November, 1.30pm – 6pm  (Bahrain time)
Session 2: 19 November, 1.30pm – 6pm  (Bahrain time)
Session 3: 23 November, 1.30pm – 6pm  (Bahrain time)
Session 4: 24 November, 1.30pm – 6pm  (Bahrain time)
  • Tune in to the course from your desk, no travelling is required.
  • Flexible schedule to enable you to work around your other commitments.
  • Register with your team to take advantage of new and attractive fees.
For more information, registrations and other queries, please contact us at:
Tel: (65) 6338 0064 | Fax: (65) 6338 4090


A Virtual Course via a Video Conferencing Platform

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.


Conducted over 4.5-hour daily sessions over 4 days
18, 19, 23 & 24 November 2020 | 1.30pm to 6.00pm BHR
*Inclusive of half-hour break

Participating Companies 2019

  • ADNOC Refining
  • Aramco Asia Singapore Pte Ltd
  • Ecomar Energy
  • Esso (Thailand) Public Company Limited
  • Fujairah Oil Terminal FZC
  • Fujairah Oil Trading Zone (FOIZ)
  • Glander International Bunkering
  • GPS Chemoil LLC FZC
  • HanwhaTotal Petrochemical
  • Idemitsu Kosan Co,Ltd
  • Kuwait Petroleum Corporation
  • LUKOIL Asia Pacific Pte. Ltd
  • Ministry of Oil & Gas, Oman
  • Navitas Continental FZCO
  • Occidental Oil Asia Pte Ltd
  • Oilinvest Netherlands BV
  • Pengerang Refining Company Sdn. Bhd
  • Petrochemical Corporation of Singapore (Pte) Ltd
  • Rabigh Refining  & Petrochemical Co
  • Reliance Industries Ltd
  • Sakhalin Energy Investment Company Ltd
  • S-OIL Corporation
  • U.S. Grains Council

Course Directors

Mr. Tod D. McGreevy

Vice President
Muse, Stancil & Co.

Mr. Tod McGreevy has over 29 years industry experience and a diverse background in petroleum refining and manufacturing. Mr. McGreevy currently serves as Vice-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.

Dr. Tilak K. Doshi

Senior Visiting Research Fellow, Middle East Institute, National University of Singapore

Dr. Tilak K. Doshi is Senior Visiting Research Fellow, Middle East Institute, National University of Singapore. Dr. Doshi is an industry expert with over 25 years of international work experience in leading oil and gas companies and think tanks.

His previous appointments include Managing Consultant at Muse, Stancil & Co (Asia); Chief Economist, Energy Studies Institute, National University of Singapore; Senior Fellow and Program Director, King Abdullah Petroleum Studies and Research Center (KAPSARC, Riyadh, Saudi Arabia); Executive Director for Energy, Dubai Multi Commodities Centre (DMCC, UAE); Specialist Consultant, Saudi Aramco (Dhahran, Saudi Arabia); Chief Asia Economist, Unocal Corporation (Singapore); Director for Economic and Industry Analysis, Atlantic Richfield Corporation (ARCO, Los Angeles, U.S.).

Dr. Doshi is the author of many articles and three books on energy economics, the most recent of which was “Singapore Chronicles: Energy” (Straits Times Press, 2016). He received his Ph.D. in Economics from the University of Hawaii on a scholarship provided by the East-West Centre. He was one of two candidates which were granted the 1984 Robert S. McNamara Research Fellow award by World Bank, Washington, D.C., and he received a Distinction for MA in Economics by Victoria University of Wellington, New Zealand in 1982.



Crude Oil Supply and Demand

Products Manufacturing Technology

Crude Oil Types and Quality Assays

Refining Costs and Yields

Product Types and Quality

Marginal Refinery Configuration

Tankers, Terminals and Transport

Refining Capital Costs

Crude Oil and Products Pricing

Forecasting and Outlook

Refinery Economic Analysis


Who Should Attend


Financial Analysts


Crude Oil Marketers

Petroleum Analysts


Refinery Finance Executives

Technology Suppliers

Project Developers

Commercial Business Analysts

Crude & Products Managers

Products Supply & Distribution Executives

Strategic/Business Development Managers

Financial Institutions/Energy Lenders

Investment Analysts


E&C Firms/Economic Feasibility Analysts

Crude Producers

Why Should You 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 strengths.
  • 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


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Get In Touch With Us!

+65 6338 0064
+65 6338 4090

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