Actions for Financial Risk Management in Refinery Operations Planning

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Financial Risk Management in Refinery Operations Planning / Miguel Bagajewicz

Author
Bagajewicz, Miguel
Physical Description
1 online resource (15 pages) : illustrations, figures, tables
Additional Creators
American Society for Testing and Materials and ASTM International
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Summary
This chapter introduces concepts of financial risk as applied to the decision-making associated with refinery operations. Particular focus is given to the use of two-stage programming to make crude purchasing decisions and operational choices such as the throughput of different units. Most models consider the price as an external uncertain parameter. However, because refiners modify retail prices to optimize profit margins and inventory costs, models that include it as a decision variable are also discussed. In addition, techniques to identify decisions that are less profitable, but also less risky, are presented. Finally, we show how commercial software can be used. We conclude that the techniques presented are mature and ready to be adopted in practice.
Dates of Publication and/or Sequential Designation
Volume 2013, Issue 58 (January 2013)
Subject(s)
Other Subject(s)
ISBN
9780803186811 (e-ISBN)
9780803170223
Digital File Characteristics
text file PDF
Note
"ASTM Stock Number: MNL5820131213725".
Bibliography Note
Includes bibliographical references 41.
Other Forms
Also available online via the World Wide Web. Tables of contents and abstracts freely available; full-text articles available by subscription.
Full text article also available for purchase.
Also available in PDF edition.
Reproduction Note
Electronic reproduction. W. Conshohocken, Pa. : ASTM International, 2013. Mode of access: World Wide Web. System requirements: Web browser. Access may be restricted to users at subscribing institutions.
Technical Details
Mode of access: World Wide Web.
Source of Acquisition
ASTM International PDF Purchase price USD25.
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