Risk Analysis for Refinery Upgrade
Learn how large energy company uses risk analysis
Client Overview
The client referenced in this case study is a Canadian integrated energy company that is based in Calgary, Alberta, and is considered one of Canada's largest energy companies, as well as having been previously ranked as one of the top 50 biggest public companies in the entire world. The refinery based in this case study began refining crude oil in 1955. The refinery produces a full range of refined petroleum products that includes gasoline, distillate, heavy fuel oil, solvents, asphalt and petrochemicals. It is also a leading producer of petrochemical products.
Challenges
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The project was underway, but there was debate as to whether it was required because of a merger.
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There was a lot of uncertainty around the project budget.
Results
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The analysis showed that the project would cost significantly more than the budgeted amount.
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The analysis showed that the project would be later than scheduled.
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As a result of the risk analysis, the project was cancelled.
