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Petroleum Refining Economics

Markets, Strategy & Competitive Advantage

October 20 - 21, 2026 Online :: Central Time

Volatile crude markets, shifting fuel demand, geopolitical disruptions, and evolving refinery economics have made strategic decision-making more complex than ever. The Refining Economics course provides a practical framework for understanding how refiners evaluate crude supply, market conditions, logistics, and investment opportunities to remain competitive in today’s global energy landscape.

Designed for both non-refiners and professionals who are new to the downstream industry, no technical background is required to understand the course material. The program is particularly valuable for finance, commercial, marketing, business development, and policy professionals who interact with refining or petroleum products and want to better understand the economic forces behind refinery operations. Likewise, refinery engineers and technical personnel will gain insight into how commercial considerations, market dynamics, and financial drivers influence operating and capital investment decisions.

Throughout the course, participants will connect refining fundamentals with real-world market events, learning how crude supply, refinery configuration, logistics, pricing, and global trade shape profitability and competitive positioning. Presentations will incorporate current world events (i.e., the war in Ukraine, potential disruptions to the Strait of Hormuz, shifting trade patterns, and changing fuel demand) to illustrate how refining companies adapt their strategies in increasingly dynamic and unpredictable energy markets.

Learning Outcomes

  • Evaluate how global petroleum market cycles and trade dynamics influence refinery profitability and investment decisions
  • Assess how refinery location, configuration, and crude selection drive competitive advantage and financial performance
  • Analyze how crude quality and availability influence refinery operations, margins, and strategic planning
  • Recognize how transportation, storage, and logistics constraints affect refinery economics and market competitiveness
  • Interpret publicly available refinery and market data to better evaluate industry performance and competitive positioning
  • Identify the market, regulatory, and geopolitical factors driving refinery investment and modernization decisions
  • Evaluate how geopolitical events, supply disruptions, and changing energy demand influence refinery strategy and long-term competitiveness

Hear From The Instructor

Petroleum Refining Economics

Register

Please Note: This event is being conducted entirely online. All attendees will connect and attend from their computer, one connection per purchase. For details please see our FAQ

If you are unable to attend at the scheduled date and time, we make recordings available to all attendees for 7 days after the event

REGISTER NOW FOR THIS EVENT:

Individual attendee(s)$ 1395.00 each(early bird rate)
(price after October 9, 2026 is $ 1,595.00)
Volume pricing also available

Individual attendee tickets can be mixed with ticket packs for complete flexibility

Pack of 5 attendees$ 5,930.00 (15% discount)(early bird rate)
(price after October 9, 2026 is $ 6,780.00)
Pack of 10 attendees$ 11,160.00 (20% discount)(early bird rate)
(price after October 9, 2026 is $ 12,760.00)
Pack of 20 attendees$ 20,925.00 (25% discount)(early bird rate)
(price after October 9, 2026 is $ 23,925.00)

Your registration may be transferred to a member of your organization up to 24 hours in advance of the event. Cancellations must be received on or before September 18, 2026 in order to be refunded and will be subject to a US $195.00 processing fee per registrant. No refunds will be made after this date. Cancellations received after this date will create a credit of the tuition (less processing fee) good toward any other EUCI event. This credit will be good for six months from the cancellation date. In the event of non-attendance, all registration fees will be forfeited. In case of conference cancellation, EUCIs liability is limited to refund of the event registration fee only. For more information regarding administrative policies, such as complaints and refunds, please contact our offices at 303-770-8800

EUCI retains the right to refuse registration by any individual or company.

Day one

Tuesday, October 20, 2026

Day two

Wednesday, October 21, 2026

Agenda

Tuesday, October 20, 2026
Central Time

Online

Log In & Welcome

8:45 AM

Lunch Break

12:30 - 1:15 PM

Adjourn for the day

5:00 PM

8:45 AM - 9:00 AM

Log In & Welcome

12:30 - 1:15 PM

Lunch Break

9:00 AM - 5:00 PM

Course Timing

Introduction to Refining

  • History of the industry
  • Macro refining trends and drivers
  • Supply chain roles and contributors

Crude Oil Basics

  • Bulk crude oil property relationships with refining value
    • Signature properties: API gravity and sulfur content
    • Other commercial value drivers: distillation range, Total Acid Number, etc.
  • Crude oil assays
    • Sources and types of assays (commercial / marketing versus project / planning quality)
    • Interpreting assay data
  • Understanding crude oil supply/demand trade
    • Regional oil consumption growth
    • Global crude oil trade flow
    • Global battle for oil supremacy

Petroleum Products

  • Product demand trends
    • Gasoline
    • Distillate
    • Fuel oil (IMO 2020 developments)
  • Product specification relationships with value

Crude Oil and Refined Product Pricing

  • Basic petroleum market pricing concepts
    • Benchmarks
    • Quality / Location drivers
    • Crude oil refining values (Gross Product Worth)
    • Key pricing differentials (Light / heavy, sweet / sour, etc.)
    • Overview of commercial pricing formulas
  • Transportation / Logistics costs
    • Modes of transportation
    • Worldscale tanker costs & Pipeline tariffs
    • Terminal and handling costs

Agenda

Wednesday, October 21, 2026
Central Time

Online

Log In

8:45 AM

Lunch Break

12:30 - 1:15 PM

Adjourn for the day

5:00 PM

8:45 AM - 9:00 AM

Log In

12:30 - 1:15 PM

Lunch Break

9:00 AM - 5:00 PM

Course Timing

Refinery Configurations & Complexity

  • Refinery configuration types
    • Topping / Hydro-skimming
    • Cracking / Coking
    • Relative margins
  • Conversion Processes
    • Hydrocracking / Fluid catalytic cracking
    • Coking
    • Vis-breaking / Solvent de-asphalting
  • Upgrading Processes
    • Hydrotreating / Benzene reduction
    • Catalytic reforming & Isomerization
    • Alkylation
  • Other Processes (offsites, utilities, petrochemical, renewable fuel)

Fundamentals of Refining Economics

  • Fundamentals of refinery economics and margin optimization overview
  • Tactical planning applications for maximizing refinery financial performance
    • Crude oil evaluation / Production planning / Inventory scheduling / Shutdown planning
    • Incremental margins / operating incentives
  • Financial Metrics
    • Gross, variable, net margins
    • Fixed and variable cost development
  • Capital costs
    • Categories (Sustaining, maintenance, environmental/regulatory versus discretionary)
    • Replacement Cost New (RCN) estimation and uses
  • Working capital requirements

Instructor

Tod D. McGreevy

President

Muse, Stancil and Co.

Mr. Tod McGreevy has over 35 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.

Continuing Education Credits

IACET

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EUCI is accredited by the International Accreditors for Continuing Education and Training (IACET) and offers IACET CEUs for its learning events that comply with the ANSI/IACET Continuing Education and Training Standard. IACET is recognized internationally as a standard development organization and accrediting body that promotes quality of continuing education and training.

EUCI is authorized by IACET to offer 1.5 CEUs for this event

Verify our IACET accreditation

 

Who recognizes IACET Credits?

Requirements for Successful Completion of Program

Participants must log on each day and be in attendance for the entirety of the course

 

Instructional Methods

PowerPoint presentations and open discussion will be used

CPEs

Upon successful completion of this event, program participants interested in receiving CPE credits will receive a certificate of completion.

Course CPE Credits: 17.0
There is no prerequisite for this Course.
Program field of study: Specialized Knowledge
Program Level: Basic
Delivery Method: Group Internet Based
Advanced Preparation: None

CpeEUCI is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org

CLE

Only registered attendees can request CLE credits for an EUCI course/event. Please email [email protected] prior to the course start date and list the state where you are licensed and your bar# as well as the name and date of your course/event in your request, and someone will be in contact.

Who Should Attend

  • Refiners
  • Financial Analysts and Bankers
  • Crude Oil Marketers
  • Petroleum Analysts
  • Regulators/Government
  • Refinery Finance Executives
  • Technology Suppliers
  • Project Developers
  • Commercial Business Analysts
  • Crude & Products Managers
  • Crude Producers
  • Products Supply and Distribution Executives
  • Strategic/Business Development Managers
  • Energy Lenders
  • Investment Analysts
  • Insurers
  • E&C Firms/Economic Feasibility Analysts
  • Energy Market Analysts
  • Commodity Traders / Trading Analysts
  • Refiner Planners
  • Commercial Optimization Engineers