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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 ...
Petroleum products are materials derived from crude oil as it is processed in oil refineries. Unlike petrochemicals, which are a collection of well-defined usually pure organic compounds, petroleum products are complex mixtures. [1] Most petroleum is converted into petroleum products, which include several classes of fuels. [2]
Each crude oil has unique molecular characteristics which are revealed by the use of crude oil assay analysis in petroleum laboratories. [83] Barrels from an area in which the crude oil's molecular characteristics have been determined and the oil has been classified are used as pricing references throughout the world.
Petroleum refinery in Anacortes, Washington, United States. Petroleum refining processes are the chemical engineering processes and other facilities used in petroleum refineries (also referred to as oil refineries) to transform crude oil into useful products such as liquefied petroleum gas (LPG), gasoline or petrol, kerosene, jet fuel, diesel oil and fuel oils.
Crude oil goes mainly to oil refineries; Natural-gas goes to natural-gas processing plants to remove contaminants such as water, carbon dioxide and hydrogen sulfide, and to adjust the heating value. It is used as fuel gas, also in thermal power stations. Nuclear reaction heat is used in thermal power stations.
An oil refinery or petroleum refinery is an industrial process plant where petroleum (crude oil) is transformed and refined into products such as gasoline (petrol), diesel fuel, asphalt base, fuel oils, heating oil, kerosene, liquefied petroleum gas and petroleum naphtha.
Petroleum, or evidence of its immediate occurrence, can be found on the surface of the Earth. Oil seeps can be found near a fault zone, where the movement of Earth's crust can expose petroleum source rock, and thus the crude oil itself. [15] They can also be found on the ocean floor, and can be found using satellite imaging. [16]
Fluorescence can be an indication of crude oil staining, or of the presence of fluorescent minerals. They can be differentiated by placing the cuttings in a solvent filled watchglass or dimple dish. The solvent is usually carbon tetrachlorethane. Crude oil dissolves and then redeposits as a fluorescent ring when the solvent evaporates.