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This keeps fuel prices low in Russia and allows refiners a small profit. [18] Russia charged an export duty on oil products, in May 2023 Light Oil products was $4.2 per tonne (compared to $12.9 in December 2022), Naphtha duty was $7.9 and gasoline $4.3 per tonne. [19]
Naphtha (/ ˈ n æ f θ ə /, recorded as less common or nonstandard [1] in all dictionaries: / ˈ n æ p θ ə /) is a flammable liquid hydrocarbon mixture.Generally, it is a fraction of crude oil, but it can also be produced from natural-gas condensates, petroleum distillates, and the fractional distillation of coal tar and peat.
Petroleum naphtha is an intermediate hydrocarbon liquid stream derived from the refining of crude oil [1] [2] [3] with CAS-no 64742-48-9. [4] It is most usually desulfurized and then catalytically reformed, which rearranges or restructures the hydrocarbon molecules in the naphtha as well as breaking some of the molecules into smaller molecules to produce a high-octane component of gasoline (or ...
Asia's naphtha prices and refining margins jumped to their highest since 2014 propelled by strong demand growth for the petrochemical feedstock and as alternative liquefied petroleum gas (LPG ...
The three most quoted oil products are North America's West Texas Intermediate crude (WTI), North Sea Brent Crude, and the UAE Dubai Crude, and their pricing is used as a barometer for the entire petroleum industry, although, in total, there are 46 key oil exporting countries. Brent Crude is typically priced at about $2 over the WTI Spot price ...
“There’s a much much larger risk of a big price drop to $50 or $60 than there is to something like the $80+ range," Tom Kloza, OPIS global head of energy analysis told Yahoo Finance.
Classifications of crude oil according to API gravity. Crude oil classification (°API) Light Key Fraction 250-275 °C Heavy Key Fraction 275-300 °C Paraffinic >40
The 2020 Russia–Saudi Arabia oil price war resulted in a 65% decline in global oil prices at the beginning of the COVID-19 pandemic. [111] [112] In 2021, the record-high energy prices were driven by a global surge in demand as the world recovered from the COVID-19 recession.