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

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

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.

Suggested Citation

  • Korotin, Vladimir & Popov, Victor & Tolokonsky, Andrey & Islamov, Rustam & Ulchenkov, Arseniy, 2017. "A multi-criteria approach to selecting an optimal portfolio of refinery upgrade projects under margin and tax regime uncertainty," Omega, Elsevier, vol. 72(C), pages 50-58.
    • Handle: RePEc:eee:jomega:v:72:y:2017:i:c:p:50-58
    DOI: 10.1016/j.omega.2016.11.003
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    Cited by:

    1. Mohammed Atris, Amani, 2020. "Assessment of oil refinery performance: Application of data envelopment analysis-discriminant analysis," Resources Policy, Elsevier, vol. 65(C).
    2. Korotkov, Vladimir & Wu, Desheng, 2021. "Benchmarking project portfolios using optimality thresholds," Omega, Elsevier, vol. 99(C).
    3. Zhang, Ting & Wang, Yulan & Shen, Bin & Prak, Dennis, 2023. "Welfare-maximizing tariff versus trade-surplus-maximizing tariff: Impacts on multinational firm competition," International Journal of Production Economics, Elsevier, vol. 264(C).

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