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A multi-criteria approach to selecting an optimal portfolio of refinery upgrade projects under margin and tax regime uncertainty

Vladimir Korotin, Victor Popov, Andrey Tolokonsky, Rustam Islamov and Arseniy Ulchenkov

Omega, 2017, vol. 72, issue C, 50-58

Abstract: •A stochastic algorithm is proposed for constructing optimal portfolio.•Tax regime and refinery margin uncertainty is considered.•A case study based on the Russian oil company is solved under uncertainty.•Optimal portfolio of refinery upgrade projects is constructed to maximize oil company׳s net present value.

Keywords: Strategic planning; Optimization; Uncertainty; Risk analysis; Refinery (search for similar items in EconPapers)
Date: 2017
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Handle: RePEc:eee:jomega:v:72:y:2017:i:c:p:50-58