Refining Economics

Refining economics involves analyzing the costs and benefits associated with the process of turning raw materials into finished products. It considers expenses like equipment, labor, and energy, against the value generated from selling the refined products. This analysis helps companies determine whether refining operations are financially viable, optimize resource use, and improve profitability. Essentially, refining economics ensure that the costs of refining processes are justified by the revenue from the refined products, enabling better decision-making to maximize efficiency and financial returns in the refining industry.