Specialist, Economic Model

Role Overview

Specialist, Economic Model at ADNOC, based at a refinery site.

Role Purpose

Ensure development and maintenance of fit-for-purpose economic models aligned with business needs. Provide economic evaluation support for feedstock and product import/export decisions, optimize refinery performance through data analysis, and coordinate with site teams to deliver timely economic insights and margin improvement opportunities.

Key Responsibilities

Economic Model Development & Enhancement

• Confer within SCMD team to ensure accurate representation of all operating constraints in LP model.
• Carry out LP and economic model enhancements to ensure fit-for-purpose models.
• Ensure all business constraints and pricing data is updated in the models to derive accurate results.
• Develop economic models required for evaluation of various intermediate and product sales and purchases.
• Develop new models required for the business from time to time.

Economic Evaluations

• Carry out economic evaluation for feedstock purchases, product and intermediate sales, and any other business cases as per requirement.
• Develop required supporting documentation for commercial dealings as per requirement.
• Develop presentations for OC/OSC to support commercial decision making based on requirement.
• Maintain auditable records for all decisions made through economic evaluation and maintain database of records.
• Support commercial operations with timely economic evaluation as and when required.

Retro-Performance Analysis & Monitoring

• Support Sr. Specialist, Economic Model in preparing Monthly Variance Analysis of refinery actual performance, explaining deviations such as yield pattern and quality giveaway.
• Identify opportunities for improvement and ensure implementation.
• Monitor product quality KPIs, unit yield pattern and component quality deviations and provide suggestions to reduce the gap.
• Track margin losses resulting from planned and unplanned shutdowns and from process limitations.
• Coordinate with concerned parties at sites to obtain actual unit yield patterns and hydrogen balances.
• Monitor Plan implementation and raise concerns regarding deviations.
• Review and revise set capacities and operating parameters for various units in line with economic indicators as and when deemed necessary.
• Develop daily and weekly margin reports, monthly gross margin reports and retro analysis on plan versus actual performance.
• Track, monitor and analyze actual refinery performance based on real time and historical data.
• Highlight any suboptimal operation and margin improvement opportunity to the concerned parties.

Site Coordination & Economics Support

• Act as focal point at Site coordinating with refinery to get actual yield patterns, actual material balance and process constraints.
• Oversee PIP (Profit Improvement Plan) program at sites, update Tracker and ensure effective management of the same.
• Perform economic analysis of process constraints as and when needed in consultation with Sr. Specialist, Economic Model.
• Support Sr. Specialist, Economic Model to carry out different scenario analysis for planned and unplanned shutdowns, slowdowns and process constraints to assess production and margin impact.
• Promote crude and product market awareness and Process unit economics trends to Refinery managers and operation team through Weekly Economics Presentation to Refinery management.

Supervision

• Plan, supervise and coordinate all activities in the assigned area to meet functional objectives.
• Train and develop assigned staff on relevant skills to enable them to become proficient on the job and deliver section objectives.

Budget Management

• Provide input for preparation of the Department and Section budgets and assist in implementation of the approved Budget and work plans to deliver Section objectives.
• Investigate and highlight any significant variances to support effective performance and cost control.

Policies, Systems, Processes & Procedures

• Implement approved Department and Section policies, processes, systems, standards and procedures in order to support execution of the Department and Section's work programs in line with Company and International standards.
• Comply with all applicable legislation and legal regulations.

Performance Management

• Contribute to the achievement of the approved Performance Objectives for the Department and Section in line with the Company Performance framework.

Innovation & Continuous Improvement

• Design and implement new tools and techniques to improve the quality and efficiency of operational processes.
• Identify improvements in internal processes against best practices in pursuit of greater efficiency in line with ISO standards in order to define intelligent solutions for issues confronting the function.

Health, Safety, Environment & Sustainability

• Comply with relevant HSE policies, procedures and controls and applicable legislation and sustainability guidelines in line with international standards, best practices and ADNOC Code of Practices.

Reporting

• Provide inputs to prepare Section MIS and progress reports for Company Management.

Qualifications & Experience

• Bachelor's Degree in Engineering, Science, Business, Economics or equivalent; additional business qualification is an advantage.
• Minimum 8 years of experience in Economic Model Building and Interpretation, preferably in oil, gas, or petrochemical plants.

Skills & Competencies

• Business Analysis.
• Experience in Linear Programming planning models of Refineries.
• Construction of economic and financial spreadsheet models.
• Optimization modelling using spreadsheets and/or linear programming models.
• Report writing and presentation skills.
• Knowledge of the Oil and Gas Industry.
• Excellent communication and interpersonal skills.
• Proficient in verbal and written English.
• Knowledge of Arabic is preferable.