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Reading Abstract:
***From the book***
Crude oil in its natural state has no value to consumers and must be transformed into products that can be used in the marketplace. Various physical and chemical methods are used in refining processes. Heat, pressure, catalysts, and chemicals are applied under widely varying process design, operating conditions, and chemical reactions to convert crude oil and other hydrocarbons into petroleum products.
Reading Contents:
1.1 Refinery Processes and Operations
1.2 Historic Overview
1.3 Product Demand and Supply
1.4 U.S. Statistics
1.4.1 Capacity
1.4.2 Capacity creep
1.4.3 Utilization
1.4.4 Industry structure
1.4.5 Regional specialization
1.5 World Statistics
1.5.1 Product demand
1.5.2 Capacity
1.5.3 Configuration, complexity, and yield
1.5.4 Investment patterns
1.6 Industry Characteristics
1.6.1 Each refinery is unique
1.6.2 No two crude oil are the same
1.6.3 Refinery configuration evolves over time
1.6.4 Not all refineries are created equal
1.6.5 Refineries are capital-intensive, long-lived, highly specific assets
1.6.6 Refined products are commodities
1.6.7 Refined products are sold in segment markets
1.6.8 Product prices are volatile
1.6.9 Product prices are correlated to crude oil prices
1.6.10 Refineries are price takers
1.6.11 Gravity down, sulfur up
1.6.12 Refining optimization involves multiple trade-offs
1.6.13 Petroleum refining is energy intensive
1.6.14 Refining operations and products impact the environment
1.7 Refinery Economics
1.7.1 Refinery economics is complicated
1.7.2 Data source
1.7.3 Boom and bust industry
1.7.4 Refining margins
1.7.5 Investment decision making
1.8 Cost estimation
1.8.1 Data sources
1.8.2 Process technologies
1.8.3 Function specification
1.8.4 Utility requirements
1.8.5 Nelson-Farrar cost indices
1.8.6 Limitations of analysis
1.9 Refinery Complexity
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Book Review:
** From Publisher
Petroleum refiners must face billion-dollar investments in equipment in order to meet ever-changing environmental requirements. Because the design and construction of new processing units entail several years’ lead time, refiners are reluctant to commit these dollars for equipment that may no longer meet certain conditions when the units come on stream.
Written by experts with both academic and professional experience in refinery operation, design, and evaluation, Petroleum Refining Technology and Economics, Fifth Edition is an essential textbook for students and a vital resource for engineers. This latest edition of a bestselling text provides updated data and addresses changes in refinery feedstock, product distribution, and processing requirements resulting from federal and state legislation.
Providing a detailed overview of today’s integrated fuels refinery, the book discusses each major refining process as they relate to topics such as feedstock preparation, operating costs, catalysts, yields, finished product properties, and economics. It also contains end-of-chapter problems and an ongoing case study.
