Risk Analysis for Refinery Upgrade
Learn how large energy company uses risk analysis
Client is a Canadian integrated energy company based in Calgary, Alberta. 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.
Project was underway, but there was debate as to whether it was required because of a merger.
There was a lot of uncertainty around the project budget.
The analysis showed that the project would cost significantly more than the budgeted amount.
The analysis showed that the project would be later than scheduled.
As a result of the risk analysis, the project was cancelled.