Add a new SRPV case

To add a new template for an SRPV case, press the button on the SRPV Toolbar. To configure the case, you need to:

1. Uniquely identify the SRPV case via a case name

2. Specify the products comprising the case, and

3. Specify any variations to which each product is subject.

These steps are described below.

4. Choose a case name.

   Once you have elected to add a new SRPV case, you should enter a name for the case and define the base currency and result unit. The Case Name is used to refer to the template in the Case List and when selecting which result to display in the Database.

   Enter the name for the Case in the Name textbox, and set the currency and result basis using the Unit menus. The currency can be selected from a list of common units, or selected from the list. The basis for the results should be selected from the drop-down list. Individual fractions can have prices set in different bases, but overall results will be quoted in the Case default basis.

   For example, if the Case has the basis set as $/bbl, then results will be quoted in $/bbl. It is still possible to enter prices in $/tonne, and will convert the price to the appropriate final unit.

   Although prices can be entered in different mass or volume bases, the currency must always be entered in the same amount. For example it is possible to enter prices as per barrel, or per tonne. However all prices would have to be quoted in $. It is not possible to enter prices in mixed currencies, or mixed units of currency. For example, it is not possible to enter prices in cents. So for example, if gasoline were priced at 76 cents/gallon, this should be entered as 0.76 $/gallon.

5. Configure Cuts and Pricing.

   An SRPV case comprises a number of products. Each product whose value is known should be added to the case in the Cut values pane of the template manager.

   Each entry in the Products values list comprises four fields, which specify the cut name, a start boiling point, an end boiling point, and a unit base price.

Field	Description	Example
Product Name	The name of the product defined by the cut.	Jet
Start	The start boiling point of the cut.	230
End	The end boiling point of the cut.	330
Unit	The temperature unit used to define the cut.	°C
Base price	The price value per unit of the product defined by the cut. The base price of the product can be varied by defining property variations for the product in the Property variations costs pane, as described in the step below.	$10

Cuts are edited using the buttons in the Products section of the SRPV Manager:

• - add a new product with associated pricing to the case

• - edits the selected product's settings

• - removes the selected product from the case.

  To calculate the SRPV calculates the yield of each cut and the value of that product, and sums the value for all the products. It is possible to enter overlapping cuts in the Products list: in this case the yield will be double-counted. The process does not check to make sure the cuts are contiguous, so care should be taken to ensure that entered cut points align correctly.

6. To add a new product:

1. Click the button.

2. Enter a name for the cut in Name textbox.

3. Set the cut's cut points by selecting from the list of standard cuts or entering custom cut points.

4. Select to use either Fixed pricing, or Formula based pricing.

   • If using Fixed pricing enter fixed price of the product.

   • If using Formula pricing define the formula.

5. Click OK to create the product and close the dialog.

   Formula Pricing

   To define a product's pricing in terms of a formula:

6. Click the button for each required variable to define the Formula Inputs

7. Define the Formula Inputs

8. Write a formula using the Formula Inputs and standard mathematical operators (Writing Formulae) to define the price calculation.

   Formula Inputs

   To define Formula Inputs:

9. Enter a tag for the formula, this will be used to refer to the property value in the pricing calculation formula.

10. Select how the formula value is calculated, either from a recut Cut Value, that is the property value of a product or stream, or as the Price of another product stream, or as a Constant value.

    • If the Formula Input is defined as a Cut Value select the property that should be recut to obtain the value and the unit for the returned value, and either select the existing stream to obtain the property value for in the Product combobox, or enter a custom or standard cut in the Perfect Cut combo

    • If the Formula Input is defined as a Price select the other stream whose price should be used from the combobox

    • if the Formula Input is defined as a constant enter the value that should be used in place of the formula variable.

7. Define Value Modifiers. For each product, a variation in price can be entered according to various specifications.

   Adding a property variation: Value Modifiers can be entered for the currently selected product in the Products list, or to all products. To enter a Value Modifier:

11. Click the button next to the Value Modifiers list.

12. Choose whether to add the modifier to the currently selected product, or to all products.

13. Select the property which should cause the variation using the Property list.

14. Select whether the property should vary over it's maximum or minimum value from the Limit menu.

15. Enter the Maximum or Minimum amount associated with Limit.

16. Select whether to Add or Subtract money from the product price.

17. Enter the value to add or subtract from the price.

18. Enter the step change in the property that causes a unit of value to be added or subtracted.

    Value Modifiers are edited using the buttons in the Value Modifiers section of the SRPV Manager:

• - add a new Value Modifier to the Case - you must choose whether to use the Value Modifier for the selected product, or all products.

• - edits the selected Value Modifier's settings

• - removes the selected Value Modifier from the case.

  When adding Value Modifiers to a Case a menu allows the Modifier to be added to the currently selected product, or to all products at the same time.

  Selecting OK will update the SRPV Case Manager.