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Longhorn Pipeline started as a 450-mile pipeline, from Houston, Texas, to Crane, Texas, in the Permian Basin, that was built in the 1950s to carry West Texas crude oil to Gulf Coast refineries. In 1995, Longhorn Partners acquired that pipeline, with the aim of reversing its flow, to carry gasoline and other refined products from Houston-area ...
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 ...
In recent years however, National Oil Companies (NOC, as opposed to IOC, International Oil Companies) have come to control the rights over the largest oil reserves; by this measure the top ten companies all are NOC. The following table shows the ten largest national oil companies ranked by reserves [29] [30] and by production in 2012. [31]
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]
The oil and gas industry is usually divided into three major sectors: upstream (also called exploration and production or E&P), midstream and downstream. [1] [2] The upstream sector includes searching for potential underground or underwater crude oil and natural gas fields, drilling exploratory wells, and subsequently operating the wells that recover and bring the crude oil or raw natural gas ...
Total petroleum hydrocarbons (TPH) is a term used for any mixture of hydrocarbons that are found in crude oil. There are several hundred of these compounds, but not all occur in any one sample. Crude oil is used to make petroleum products, which can contaminate the environment. Because there are so many different chemicals in crude oil and in ...
Moreover, the allocation process may be designed to split up a flow of multiple products of the individual ingredients or phase fractions, for example when associated gas and water are supplied with a crude oil flow, [10] and each fraction within the commingled flow or storage is allocated between the contributors and its ownership.
The Texas Oil and Gas Association (TXOGA) is a industry group representing the petroleum and natural gas industries in Texas. Texas is the biggest producer of fossil fuels in the United States, account for 41% of crude oil production, 25% of natural gas, and 31% of refining capacity. [1]