Models for Optimum Decision Making : Crude Oil Production and Refining

This book considers the problem of determining how many barrels of crude oil an oil-producing and exporting country should produce annually for export―along with several other important problems that decision-makers in the crude oil industry face―and discusses procedures for finding optimum solutions for them. It considers the important Objective Functions they need in making these critical decisions, and discusses procedures to find the best solutions. Outputs from the treatment units, in an oil refinery are only semi-finished products; these are blended into finished products like gasoline, diesel oil, etc., meeting various specifications that the marketplace demands. The book discusses models for solving these problems optimally with examples.

​Katta G. Murty is an Emeritus Professor of industrial and Operations engineering at The University of Michigan, Ann Arbor. Professor Murty teaches graduate and undergraduate courses in linear, integer and non-linear programming and network flows. His recent research includes studies in mathematical programming and its applications as well as research on optimization algorithms. He is the author of eight books on linear and non-linear programming and network flows, and an undergraduate text on Operations Research-Deterministic Optimization Models.