Configuring cases

Create a new case

Select the add () icon in the top-right corner of the case list to create a new BlendSearch case.

Enter a name and description

1. Enter the name for the BlendSearch Case, and if required a short description

2. Select Overview in the left-hand side list. Enter a name for the case in the Name text box, and if required a short description in the Description text box.

3. You can also select a location to associate to this case, and whether this case is recommended or not. If you want to share the case with other users, select a share from the Share dropdown menu.

Add crudes for blending

Each BlendSearch case must have a set of potential crudes that could be used in blending. BlendSearch selects several of the potential crudes and attempt to blend them to meet the required constraints. For example, you might choose 20 different crudes as potential feedstocks. BlendSearch might choose 3 of these and attempt to blend them to meet the entered constraints. For those blends that do meet the entered constraints, BlendSearch returns the composition and the relative cost of making that blend.

To add crudes to the list of potential feeds:

1. Go to the Crudes page.

2. Select the Add button.

3. In the Assay Selector, enter the name or reference of the crude to add to the list and press ENTER.

4. Select the checkbox next to the required assay.

5. Continue to search for and add other crudes to the blend list. Select the checkbox next to all the assays required.

6. After selecting all the required assays, select OK.

BlendSearch selects a number of constituents from the blend list and attempts to blend them according to defined constraints. To choose the number of possible constituents to include in a blend, select a number from the Blend Constituents menu.

BlendSearch can be run in two different modes. When using the default Variable % of final blend, BlendSearch selects the number of constituents from the blend list and try to blend them to meet the required constraints. Many possible blends of the same constituents may meet the constraints, so the price of each of these blends is reported. Alternatively, BlendSearch can use the mode Fixed % of final blend. In this mode, the same percentage of each crude is included in the final blend, but the different possible mixes of crude possible are investigated.

When using Variable % of final blend, each crude can have a minimum or a maximum amount in the blend defined. These can be set by typing the required value in the Min or Max column. If a particular crude should always be included as one of the final blend constituents, select the Required checkbox in the same row as the crude.

Set specifications for the blend

Each BlendSearch case has a set of specifications. These are the allowed property limits for the final blend. The final constraints can be for the whole boiling range of the blend, or for a cut of the blend.

To add a specification:

• Click the add () icon to add a new row, or alternatively right-click the row header and choose Insert Row.

• Double-click the Property text box and select the name of the property from the list of available properties.

• If required, change the unit of measure by selecting the required unit in the UoM menu.

• Enter a minimum or maximum value for the property as required in the relevant cells.

Each set of specifications can have many property constraints. Each property should have either a minimum or maximum or both. To disable a constraint value during BlendSearch, clear the check box next to the Min or Max value. The property constraint is not applied if the check box is deselected.

Configure crude pricing

The ability to select Pricing Mode, Pricing Date, Price Averaging, Source, and Quote is available only if the optional Platts Pricing Feed has been licensed.

BlendSearch requires the cost of each crude to calculate how much it would cost to make each blend. The cost of each crude is entered using a crude pricing case. BlendSearch is able to make use of other crude pricing scenarios available in Assay, for example in Netback.

To use an existing pricing scenario:

1. Select Crude Pricing Cases from the left-hand side list. Click the open () icon to open the Crude Pricing Selector.

2. Enter the name of the crude pricing scenario in the Search box, or type * to find all Scenarios, and press ENTER.

3. Click the Select button next to a pricing scenario to use it directly in your BlendSearch case. Select the Copy button to create and use a copy of the scenario instead. The latter option is useful if you want to make changes without affecting the original scenario.

To create a new pricing scenario using an automated price feed:

1. Click the new () icon.

2. Click the Add () button to add a new row to the grid. Alternatively, select Add crudes from case to add all the crudes in the crudes list to the scenario.

3. In the Traded Crude column, double-click the cell and select the name of the Traded Crude from the list of available crudes.

4. Select the Quote to use for the crude price.

5. If required, enter a CFD and Quality Offset which are added to the Base Price to calculate the Total Price; these figures can be negative numbers.

6. Continue adding any other crudes required by the Case - each crude in the Crudes List should have an entry in the Crude Pricing List.

To create a new Pricing Scenario using custom pricing:

1. Click the new () icon.

2. Click the add () icon to add a new row to the grid. Alternatively, click Add crudes from case to add all the crudes in the Crudes List to the scenario.

3. In the Traded Crude column, double-click the cell and select the name of the Traded Crude from the list of available crudes.

4. If necessary change the Source to Custom

5. Either, enter the Base Price for the crude, along with a CFD and Quality offset

6. Or, select a Benchmark crude for the crude, this is another crude in the Crude Pricing List, and enter an offset price - the Total price is calculated by using the Benchmark crude's price and adding the offset (which may be negative)

When using a price data feed such as Platts it is possible to use either Current or Historical pricing. When using Current pricing the latest available price is used. When setting the Pricing Mode to Historical a Pricing Date should be set using the Calendar control. The valid price on this date is used in the BlendSearch calculation.

When using a price data feed it is possible to use futures pricing. To select the pricing month change the option in the Month menu. This updates the available categories in the Quote column for each crude. Not all crudes have valid future prices. For example, setting Month to 2 would allow you to choose the price for Arab Light for delivery in two months. If you used the Current Pricing Mode, it would be the latest valid price; if you used the Historical pricing mode it would be price for delivery in two months that was quoted on the date you choose.

When using Price Averaging it is possible to use the mean price for a crude over a period of time rather than one particular price. To use Price Averaging select the check box and enter the number of days over which to average the prices. For example, setting the value to 14 would calculate the mean of the last 14 days pricing. Some crudes may have their price updated daily, while others may be updated less frequently. If using historical pricing the average price for the time period prior to the pricing date is calculated.

Configure Freight Pricing

Enter the required pricing for the crudes that can be included in the blend

The Crude Freight List is used to associate a freight charge with each crude.

A BlendSearch Case does not require a Crude Freight List and assumes freight is zero for each crude if no list is present.

To use an existing Crude Freight Pricing Scenario:

1. Click the open () icon to open the Crude Freight Selector.

2. Enter the name of the Crude Freight Scenario you wish to use in the Search box, or type *, and press Enter to search the scenarios.

3. Click the Select button next to the required scenario.

To create a new Crude Freight Pricing Scenario:

1. Click the new () icon to create a new scenario.

2. Click the Add () button to add a new row to the pricing grid.

3. Double-click in the Traded Crude row and select the name of the crude from the list.

Generate and Review Results

After entering all the details open the Results page; there may be a short delay while the results are generated.