Study Award Business Chemistry: How to deal with volatile naphtha prices?

The fossil distillate Naphtha is one of the most important resources in petrochemistry. Its price fluctuates strongly. In her master’s thesis, Stella Buchmann showed how companies can optimally deal with this fact. Yesterday she was awarded the Study Award Business Chemistry 2019, granted by Grosse-Hornke and the University of Münster.

Over the past few years, naphtha prices were subject to annual fluctuations by several hundred US dollars per ton. For petrochemical companies it is difficult to set the prices for their downstream products. In order to approach an optimum, Stella Buchmann chose a special method of probability calculation: the so-called Monte Carlo simulation. Scientists use this method when complex processes cannot be analyzed directly. From her findings, the graduate derived practical options for a large German chemical company.

One of the all-time top five percent of graduates

“Ms. Buchmann has impressively applied her outstanding economic-chemical skills. Furthermore, she taught herself new methodological skills,” Professor Dr. Jens Leker said, Director of the Institute for Business Management in the Department of Chemistry and Pharmacy at the University of Münster. With her final mark of 1.3, the graduate also ranks among the top five percent who have completed the Master’s program in Business Chemistry in Münster since it was founded in 2011.

Grosse-Hornke has been awarding the Business Chemistry study prize since 2012, endowed with 1,000 euros, together with the Institute for Business Management in the Department of Chemistry and Pharmacy at the University of Münster.

03.12.2019, Grosse-Hornke

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