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The Oil & Gas Journal publishes a worldwide list of refineries annually in a country-by-country tabulation that includes for each refinery: location, crude oil daily processing capacity, and the size of each process unit in the refinery. For some countries, the refinery list is further categorized state-by-state.
American petroleum refining largely grew out of oil shale refining. When the Drake Well started producing in 1859, the oil shale industry was growing rapidly, and establishing refineries near cannel coal deposits along the Ohio River Valley. As oil production increased, the oil shale refiners discovered that their refining process worked just ...
The refinery was built in 1906 by the National Refining Company, which was then the second largest oil company in the United States. Built on 75 acres (30 ha), the refinery processed 2,500 barrels per day (400 m 3 /d) of crude oil, compared to today's 108,000-barrel-per-day (17,200 m 3 /d) processing capacity. In 1944, National Refining Company ...
In many ways, oil refineries use many different technologies and can be thought of as types of chemical plants. Since December 2008, the world's largest oil refinery has been the Jamnagar Refinery owned by Reliance Industries, located in Gujarat, India, with a processing capacity of 1.24 million barrels (197,000 m 3) per day.
On July 27, 2021, the Whatcom County Council voted unanimously to ban new refineries, shipping terminals, or coal-fired power plants at Cherry Point. [18] In December 2023, BP finalized its purchase of 1,100 acres (450 ha) near Cherry Point from a subsidiary of SSA Marine for $50 million to be used as a buffer for their refinery.
The refinery was expanded from 60,000 barrels per day (9,500 m 3 /d) to 65,000 barrels per day (10,300 m 3 /d) in 1982. It was expanded again to have a processing capacity of 70,000 barrels per day (11,000 m 3 /d) in 2007. The employees of the Warren refinery are represented by the International Union of Operating Engineers.
Oil traders, Houston, 2009 Nominal price of oil from 1861 to 2020 from Our World in Data. The price of oil, or the oil price, generally refers to the spot price of a barrel (159 litres) of benchmark crude oil—a reference price for buyers and sellers of crude oil such as West Texas Intermediate (WTI), Brent Crude, Dubai Crude, OPEC Reference Basket, Tapis crude, Bonny Light, Urals oil ...
West Texas Intermediate (WTI) is a grade or mix of crude oil; the term is also used to refer to the spot price, the futures price, or assessed price for that oil. In colloquial usage, WTI usually refers to the WTI Crude Oil futures contract traded on the New York Mercantile Exchange (NYMEX).