Global View on Petrochemicals Economics

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Synthesis

Day 1 :INTRODUCTION, SCOPE OF PETROCHEMICALSA. Safety first. Short introduction to risk management and sustainable development
B. Main definitions. Economic importance of petrochemicals within world of energy. World petrochemicals mass balance
C. Upstream of petrochemicals. Quick review of refining. Search for increased refining margin -> more conversion units and more synergy with petrochemicals
D. Kick-off of a mini-project: “analysis of the root causes of a major accident from a management point of view”

Day 2 :
PETROCHEMICALS. ZOOM ON BASE CHEMICALS
A. Raw material supply from oil, gas or coal industry
B. Olefins production. Main sources, markets and producers. Steam crackers. Benchmarking. Revolution of development of ethane feedstock. New routes to propylene. Influence of shale gas development
C. Aromatics. Main sources, markets and producers. Bz, PX. Example: “2nd generation” monomer: styrene. Constant process optimization for energy savings and competitiveness
D. Syngas bright future. New feedstock for base chemicals

Day 3 :
PETROCHEMICALS. ZOOM ON POLYMERS
A. Definitions. History. Reasons behind the astonishing diversity, adaptability and growth rate of polymers, samples
B. Pricing mechanisms. Why such wild/wide fluctuations? Example of PS/PP competition
C. Main characteristics and main markets for polyethylene, polypropylene, PVC, PS and PET
D. Polymers and environment. Do you like plastics?
E. Review of students work on mini safety project

Day 4 :
PROJECT MANAGEMENT IN PETROCHEMICALS
A. Relative development costs and durations of various phases of a project, from R&D to beneficial operation
B. Intellectual property/misunderstood facts about patents. Technology scouting. Competitive intelligence
C. High cost of R&D. Technical cooperation with peers, customers, J.V.S. Licensing in and out; terms of agreement
D. Project scope definition and optimization. Stage/gate system. Concurrent vs sequential engineering
E. Economic analysis. Investment cost estimate (ISBL, OSBL, running capital). Future margin prediction. Pay-out time

Small exam (multiple choice)

Day 5 :
CONCLUSIONS
A. Safety mini-project final presentation by students and discussion
B. Presentation of a real case of investment feasibility study: “new polymer plant in an Asian country”
C. Methodology of project development. Presentation of various jobs for engineers in the petrochemical industry
D. Conclusions. Summary of the most important points covered during the week

Diploma ceremony

Language

Audience type

Students with at least three years at university, majoring in: petroleum economics, management sciences, chemical, mechanical or petroleum engineering, material sciences, etc, …

Planned duration

5 days of 6 hours per day, or less depending upon the University scheduleWhole program can be adapted in scope, level and duration (from 1/2 day minimum to 5 days) in order to meet the specific requests from university

Support material

Paper copies of most of the slides (in English) will be given. Small movies, show of samples, exercises will be used throughout the program.

Prerequisite

Only basic scientific and economic background is required to follow the program. Along with a sense of curiosity, proper attention during lectures and reasonable understanding of English or French languages.

Objectives

Students will obtain a broad understanding of the long economic chain value of petrochemicals, from oil and gas (and coal) to polymers and plastics, of its main growth drivers and challenges, of the dramatic changes resulting from change of feedstock, and of the various types of job they could find in the petrochemical industry.