Specialist Economic Model

Job Description:

Ensures developments of fit-for-purpose economic models as per business needs and ensures that all Economic models required for the production optimization function are up to date. Responsible for effective use of these models in economic evaluations of feedstock and product imports/exports. Provide necessary support to maintain all Economics and Planning models up-to-date with actual plant operating conditions and develop any new model(s) required for the business from time to time, act as the focal point at Site coordinating with refinery to get actual yield patterns, actual material balance and process constraints track, monitor and analyze actual refinery performance based on real time and historical data and highlights any suboptimal operation, margin improvement opportunity to the concerned Develops daily and weekly margin reports, monthly gross margin reports and retro analysis on plan vs actual performance.

Carries out economic evaluation of crude condensate and other feedstock to support procurement decisions. Support commercial operations with timely economic evaluation as and when required.

• Confers within SCMD team to ensure accurate representation of all operating constraints in LP model
• Carry out LP and economic model enhancements to ensure fit-for-purpose models
• Ensure all business constraints and pricing data is updated in the models to derive accurate results
• Develops economic models required for evaluation of various intermediate and products

• Carries out economic evaluation for feedstock purchases, product/intermediate sales, and any other

business cases as per requirement from time to time

Responsible to maintain auditable records for all decisions made through economic evaluation and maintains database of records.

• Support Sr. Specialist, Economic Model in preparing Monthly Variance Analysis of the refinery actual performance, explaining deviations e.g., yield pattern, quality giveaway etc., identify opportunities for improvement and ensure implementation.
• Monitor product quality KPI’s, unit yield pattern & component quality deviations and provide suggestions to reduce the gap
• Track margin losses resulting from planned & unplanned shutdowns and from process limitations.
• Coordinate with concerned at sites to obtain actual unit yield patterns, hydrogen balances.
• Monitor Plan implementation and raises concerns regarding deviations. Review and revise the set capacities and operating parameters for various units in line with economic indicators as and when deemed necessary.

• Oversee PIP (Profit Improvement Plan) program at sites, update Tracker and ensure effective management of the same
• Perform economic analysis of process constraints as and when needed in consultation with Sr. Specialist, Economic Model.
• Support Sr. Specialist, Economic Model to carry out different scenario analysis for planned/ unplanned shutdowns/ slowdowns/ process constraints to assess production/ margin impact.
• Promote crude and product market awareness and Process unit economics trends to Refinery managers and operation team - Weekly Economics Presentation to Refinery management

• Plan, supervise and coordinate all activities in the assigned area to meet functional objectives.
• Train and develop the assigned staff on relevant skills to enable them to become proficient on the job and deliver the respective section objectives.

• Provide input for preparation of the Department/ Section budgets and assist in the implementation of the approved Budget and work plans to deliver Section objectives.
• Investigate and highlight any significant variances to support effective performance and cost control.

• Implement approved Department / Section policies, processes, systems, standards and procedures in order to support execution of the Department / Section’s work programs in line with Company and International standards.
• Comply with all applicable legislation and legal regulations.

• Contribute to the achievement of the approved Performance Objectives for the Department / Section in line with the Company Performance framework.

• Design and implement new tools and techniques to improve the quality and efficiency of operational processes.
• Identify improvements in…