Cost Management and Optimization in Refinery and Midstream Operations 1st – 5th December 2025

Course Overview

Cost Management and Optimization in Refinery and Midstream Operations is a comprehensive 5-day training program designed to equip professionals with the tools and techniques required to manage costs effectively and improve operational efficiency in refining and midstream activities. The course provides practical approaches to budgeting, cost forecasting, and resource allocation, with a focus on maximising profitability while maintaining high operational standards. Participants will explore strategies for optimising energy consumption, improving maintenance practices, and reducing operational inefficiencies to drive sustainable cost savings.

Course Objectives

By the end of this course, participants will be able to:

1. Understand the principles of cost management in refinery and midstream operations.

2. Develop effective budgets and financial forecasts to improve cost control.

3. Identify and analyse cost drivers in refining processes and midstream infrastructure.

4. Apply strategies to optimise resource utilisation and reduce operational waste.

5. Improve energy efficiency and implement cost-saving measures in refining operations.

6. Evaluate maintenance practices to minimise downtime and control expenses.

7. Utilise performance metrics to monitor and optimise operational costs.

Target Audience

• Refinery and midstream operations managers

• Cost and financial analysts

• Maintenance and process engineers

• Project managers and planners

• Energy management professionals

• Supply chain and logistics personnel

Daily Agenda

Day One: Fundamentals of Cost Management in Refinery and Midstream Operations

• Introduction to cost management principles

• Key cost drivers in refining and midstream sectors

• Budgeting and financial forecasting techniques

• Understanding cost allocation and variance analysis

• Case study: Cost breakdown in a refinery operation

Day Two: Strategies for Operational Cost Optimisation

• Resource utilisation: Optimising manpower, materials, and equipment

• Identifying and eliminating process inefficiencies

• Feedstock selection and its impact on cost optimisation

• Reducing waste through lean operations and process improvements

• Workshop: Analysing cost-saving opportunities in refining processes

Day Three: Energy Efficiency and Cost Control

• Energy management strategies for refinery operations

• Techniques for reducing energy consumption in heating, cooling, and pumping systems

• Integration of energy-efficient technologies and practices

• Monitoring and analysing energy performance metrics

• Hands-on session: Energy optimisation in refining and midstream systems

Day Four: Maintenance Optimisation and Asset Management

• The role of proactive maintenance in cost management

• Predictive and preventive maintenance techniques to reduce downtime

• Evaluating maintenance costs and return on investment (ROI)

• Life cycle cost analysis of midstream and refining equipment

• Workshop: Developing cost-effective maintenance plans

Day Five: Performance Monitoring and Continuous Improvement

• Key performance indicators (KPIs) for cost and operational efficiency

• Implementing cost control frameworks and performance dashboards

• Best practices in continuous improvement and cost reduction initiatives

• Case studies: Successful cost optimisation projects in refineries and midstream operations

• Final group activity: Developing a cost management and optimisation strategy

Why Choose this Course?

This training program provides participants with practical tools and proven techniques to enhance profitability by managing and optimising costs in refining and midstream operations. With a focus on energy efficiency, maintenance optimisation, and waste reduction, the course delivers actionable insights that drive long-term operational excellence.

Learning Outcomes

Upon completion of the course, participants will:

1. Develop effective budgeting and cost control plans tailored to refining and midstream operations.

2. Implement strategies to optimise resource allocation and reduce inefficiencies.

3. Improve energy performance and reduce energy-related expenses.

4. Enhance maintenance practices to control costs and maximise asset lifespan.

5. Monitor performance metrics to sustain continuous cost optimisation efforts.