Asset Economist
As an Asset Economist on the trading floor in London you will maximise commercial value each day by optimising crude and feedstock processing, component blending and product manufacturing options in line with the dynamics of the oil trading market, using LP analysis to guide oil traders on what crude to buy for their refinery. You will resolve refinery constraints quickly in response to trading options, based on your evaluation of the refinery Linear Program (LP), dealing with many LP inputs (e.g. pricesets, stocks, demand) to produce an analysis of the refinery’s upgrading economics and generation of a crude "pecking order", plus breakeven financials for intermediate, blending component and finished product imports/exports. You will work with supply coordinators on the economics of new or distressed crudes, and crude oil purchases, and gain approval from the refinery to process new crudes. As an interface between operations and trading, challenging constraints and the status quo in a constructive way is a central component to the role.
JOB RESPONSIBILITIES
1. Analysing and valuing any and all feedstock procurement or product sale opportunities in a rigorous and accurate way in order to ensure the optimum decision making by the traders and thus maximise the commercial performance profits.
2. Co-ordinating communication and information sharing between the Refinery Planning teams and the trading team to facilitate a common understanding of the operational constraints, the market conditions and opportunities and the economic benefits of all the trading/optimisation decisions to be made.
3. Maintaining, improving and operating the refinery linear programme model, ensuring that the data inputs to it (including refinery operating constraints, crude and product stock levels, projected prices and freight, crude oil quality) are accurate or best estimates, and analysing and communicating the output to ensure that the trading and Planning teams clearly understand the implied refining economics.
4. Carrying out complex modeling work either self-initiated or in response to trader/management requests to better understand performance or the value of future strategies.
5. Analysing and challenging the commercial results measuring the optimisation performance issued each month through the Barrel Model Analyst in order to ensure that those results are accurate and meaningful and to ensure the maximum learning from them.
QUALIFICATION REQUIREMENTS
Education - Technical degree in Chemical Engineering/Engineering/Science/Business Studies or equivalent
Professional Background - Experience of working in an oil refining environment with preferably at least two years in the Planning and Optimisation department.
Refinery Process experience
Working Experience - Minimum 5 years relevant experience
Other Requirements
- Excellent analytical skills in order to process and make sense of complex data sets.
- Significant skill and experience in the running and management of complex linear programmes modelling the refinery with the ability to read an LP.
- High level of expertise in understanding refinery processes and operating constraints probably gained through a process engineering or refinery scheduling and planning background.
- Excellent written and verbal communication skills
- English fluency.
- German language skills
***Oil Recruitment has been working with some of the world’s leading banks, trading companies, major oil companies and utilities within the energy trading arena since 1998. We work on roles in trading, broking, risk, credit, quantitative analysis, consultancy, shipping, chartering, operations and contract analysis across the upstream and downstream energy markets in crude, oil products, gas, power and carbon.
To learn more about our business and to see details of our other vacancies visit www.oilrecruitment.co.uk
Leave a Reply
You must be logged in to post a comment.