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The largest share of oil products is used as "energy carriers", i.e. various grades of fuel oil and gasoline. These fuels include or can be blended to give gasoline, jet fuel, diesel fuel, heating oil, and heavier fuel oils. Heavier (less volatile) fractions can also be used to produce asphalt, tar, paraffin wax, lubricating and
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 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.
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.
The use of the term paraffin in place of the standard chemical nomenclature alkane is particular to the oil industry (which relies extensively on jargon). The composition of a gasoline depends upon: the oil refinery that makes the gasoline, as not all refineries have the same set of processing units; the crude oil feed used by the refinery;
Yeats arrives at the refinery site where he discovers something is wrong with the oil. We haven’t seen Matthew Fox in a TV series since Lost ended in 2010. Now, Fox has returned as the ...
Upstream regards exploration and extraction of crude oil, midstream encompasses transportation and storage of crude, and downstream concerns refining crude oil into various end products. Petroleum is vital to many industries, and is necessary for the maintenance of industrial civilization in its current configuration, making it a critical ...
But given the decline in the price of crude oil — down 20% from an April high — continued record production from the US, and weakening demand, oil traders believe OPEC+ will delay its program ...