New method determines

A refinement of a “simplified” market approach for comparing refinery values using replacement cost new (RCN) and a combination of capacity and complexity has been developed.The simplified market approach typically uses two ratios to compare refinery sales values. One ratio divides refinery sales price by RCN. This ratio represents the refinery value as a fraction of the cost to replace it-it is a refinery’s “percent good” or undepreciated value.The second ratio divides refinery sales price by the product of refinery capacity and complexity (complexity-barrel). Refinery value is expressed in dollars/complexity-barrel.The simplified market approach for valuing...

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