Risk Analysis for Refinery Upgrade
Learn how large energy company uses risk analysis
Client Overview
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.
Challenges
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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.