Study updates refinery investment cost curves

In this article, we have updated and extended the refinery investment cost curves presented in Gary and Handwerk’s “Petroleum Refining: Technology and Economics.”1 2 This article presents the methodological framework, data sources, and normalization procedures used for cost estimation, along with a discussion of the limitations of analysis. Cost functions are summarized for the main refinery processes. Data sources Many different data sources are available to estimate the construction cost of a refinery unit, including government organizations, private and public companies, commercial databases, trade and academic publications, and press releases for licensors and companies. Oil & Gas...

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