Implementation of the decision making along with analytic hierarchy process (AHP) approaches in the assessment of the petroleum products cost based on the statical model

Authors

DOI:

https://doi.org/10.15587/1729-4061.2022.263192

Keywords:

AHP, decision-making-statistical model, petroleum, cost, PDS, crude oil

Abstract

In this study, the investigation of the decision-making strategy was used to select the alternative that was finally adopted in the crude oil refining process. This strategy was used to select the option that was ultimately implemented in the process. The Doura industrial refinery was the source of the information that was acquired for the analysis. The super decision software was applied in order to carry out an examination of the PDS components. After going through the process of refining, one can get the items on the following list: There are five main types of petroleum products, and they are: gasoline, gas oil, liquid gas, black oil, and white oil. Gasoline is the most common type of petroleum product. In order for the parameters to be optimally accommodated by the solution that is finally decided to be the most practical one, the analytic hierarchy process, also known as AHP, technique has been applied. This has been done in conjunction with the parameter determination system, or PDS. This has been done in order to reach the maximum potential level of productivity in the most efficient manner. As a result of the fact that this was the circumstance, a probe into the preliminary phase of the project was carried out, which in the end resulted in the expenditure of a grand total of 3969463 USD. This was determined by taking into account the costs of running the firm in addition to the prices of the raw materials that were utilized in the production process. In addition, the output of the refining process was not only dependent on the price and quantity of the product, but also on the amount of product that was actually sold. This meant that the cost and quantity of the product were not the only factors that determined the output. In order to determine what should be done during the process of making an estimate of what should be done in order to arrive at the response that was going to be the most advantageous taking everything into consideration, a mathematical model was applied as part of the process.

Author Biographies

Nada Salman Nikkeh, Middle Technical University

Technical Administrative College of Baghdad

Suhair Muafaq Abdulhussein, University of Baghdad

Lecturer

Department of Finance

Mohammed Ali Mohammed, Middle Technical University

Technical College of Management

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Published

2022-08-31

How to Cite

Nikkeh, N. S., Abdulhussein, S. M., & Mohammed, M. A. (2022). Implementation of the decision making along with analytic hierarchy process (AHP) approaches in the assessment of the petroleum products cost based on the statical model. Eastern-European Journal of Enterprise Technologies, 4(13(118), 68–74. https://doi.org/10.15587/1729-4061.2022.263192

Issue

Vol. 4 No. 13(118) (2022): Transfer of technologies: industry, energy, nanotechnology

Section

Transfer of technologies: industry, energy, nanotechnology

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Copyright (c) 2022 Nada Salman Nikkeh, Suhair Muafaq Abdulhussein, Mohammed Ali Mohammed

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