Sentences with phrase «petroleum oil refining»
«The processing costs would be similar and comparable to petroleum oil refining,» and perhaps even less expensive, Wocken notes, «because you're not dealing with contaminants like sulfur.»
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Downstream companies make money on the difference between the price of crude and the price of the refined petroleum extracted from it (a difference known as the «crack spread»), while midstreaming is a volume business (ship more oil, earn more money).
Companies that refine and sell petroleum products pay market price for oil, so their costs are rising, but a shaky economy makes it harder for them to pass costs on to customers.
The upshot: For now investors should avoid pure - play downstream companies like Marathon Petroleum (mpc), which has focused on refining, retail gas sales, and transport since being spun off from Marathon Oil (mro) in 2011.
The U.N. Security Council has unanimously boosted sanctions on North Korea since 2006 in a bid to choke off funding for Pyongyang's nuclear and ballistic missile programs, banning exports including coal, iron, lead, textiles and seafood, and capping imports of crude oil and refined petroleum products.
A day earlier the American Petroleum Institute had estimated crude oil inventories had risen for the second week in a row, by a hefty 6.18 million barrels, which was only to be expected as the market is prepared for the Hurricane Harvey effects on Gulf Coast refining to linger for another few weeks.
The Downstream segment comprises refining of crude oil into petroleum products; marketing of crude oil and refined products; transporting of crude oil and refined products by pipeline, marine vessel, motor equipment, and rail car; and manufacturing and marketing of commodity petrochemicals, plastics for industrial uses, and fuel and lubricant additives.
It is important for oil and refined product imports and exports, it is an important storage area for oil and refined products, and much of the Strategic Petroleum Reserve is close by.
The Fed said Hurricane Harvey was responsible for most of the decline by depressing oil drilling, petroleum refining and other industrial activity.
Crude oil or refined petroleum — which may have been made from oil produced elsewhere — is the top export for six states, including Texas and North Dakota.
These include some transportation and refining companies like Marathon Petroleum and oil services company Schlumberger.
April 30 U.S. oil refiner Marathon Petroleum Corp, which has agreed to buy rival Andeavor, reported an increase in first - quarter profit, helped by higher refining and marketing margins.
When you add in refined products and other petroleum liquids, Canadian exports soared past 4.1 million barrels a day, a total that is higher than the next seven U.S. suppliers combined, and nearly four times more than Saudi Arabia, the U.S.'s second largest source of foreign oil.
Although Nigeria is Africa's largest oil producer, it is also one of the continent's largest importer of refined petroleum products.
Economists had expected a deficit of $ 2 billion for 2018's second month, and are blaming the large deficit on an increase in energy imports which hit their highest level since November 2014 (the country saw imports in crude oil and refined petroleum products grow 15.4 % and 24.1 % respectively).
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Usually, this type of oil made from refining petroleum, which called mineral oil.
«We are set to unveil the world's largest refinery which will make Nigeria self - sufficient in petroleum products refining and also become a major exporter of oil.This project will mark a turning point in Nigeria's search for local refining of crude oil.
The Minister who appeared before the Senate Committee on Petroleum (downstream) on Thursday, also said its a shame that Nigeria can not refine its crude oil after 40 years of activities in the downstream.
WOODSTOCK >> The Town Board has joined a chorus of local officials seeking to stop the proposed 178 - mile Pilgrim Pipeline from carrying Bakken crude oil and refined petroleum products through the region.
Nigeria continues the absurdity of expending more than 30 % of scarce foreign currency importing refined petroleum products, a self - imposed malaise as we insist on subsidizing domestic fuel consumption; and crude oil and gas as a percentage of our export revenue stays at 96 % meaning beyond all the talk of diversification, current rhetoric does not match the outcomes!
On May 20, 2015, nine days BEFORE the government was inaugurated, I laid out «Policy Prescriptions» - diversification of production, government revenue, and exports; imperative of a strong and credible economic team and cabinet; targeting «opportunity sectors» (solid minerals, refining and petrochemicals, a new and realistic fiscal regime for upstream oil and gas, private sector investments in power and infrastructure, agro-processing, retail and construction); freeing «up resources from downstream petroleum sector deregulation» emphasizing «an economic reality in which hard decisions including some previously rebuffed by the opposition will have to be taken» a clear reference to the petrol subsidy which government waited a full year before countenancing the critical decision!
The Group Managing Director, GMD, of the Nigerian National Petroleum Corporation, NNPC, Dr. Maikanti Baru has assured that Nigeria will achieve the refining of about 400, 500 barrels of crude oil per day by the end of 2019.
«Pilgrim Pipeline Holdings, LLC, has proposed to construct two pipelines carrying crude oil and refined petroleum products between Albany, New York and Linden, New Jersey, cutting through the Town of Rosendale and 31 other towns, cities and villages in the Hudson Valley, Catskill Region and Capital District Area,» notes the letter.
The governor said: «It is shameful that Nigeria produces crude oil but imports refined petroleum products from other countries that have no crude oil deposits, instead of our refineries to be functional.
As a major oil producer, involving the private sector — and I am aware that Dangote is building some refineries and tank storage capacities — it should be possible to process Nigerian oil locally into finished petroleum products and export them to West Africa and the rest of Africa without us having to import petroleum products from outside.Speaking as a former leader of an African country, I can tell you that our quest to build our countries into industralised economies that can begin refining our own raw materials and manufacturing what we need, is not a development paradigm that the rich nations are enthused about.
The pipeline would handle an estimated 200,000 barrels per day of Bakken crude oil going south and the same amount of refined petroleum products going north.
The pipeline would transport an estimated 200,000 barrels per day of Bakkan crude oil going south and the same amount of refined petroleum products going north.
Pilgrim pipelines opponents contend that similar concerns exist for the proposed, two - line system that would transport highly volatile Bakken crude oil and refined petroleum between Albany and New Jersey.
Even the oil sands ultimate consumption in a gasoline, diesel or jet engine only results in 500 kilograms of CO2 - equivalent per barrel of refined petroleum products, meaning total oil sands emissions from well to wheel are considerably lower than those of this nation's more than 500 power plants burning coal to generate electricity.
The oil vapor, meanwhile, is condensed into a liquid fuel, which is then further upgraded and processed to make a green fuel similar to the bunker fuel that is used in cargo ship engines and industrial boilers, for example, except it lacks the pollution - causing sulfur common to the bunker fuel refined from petroleum.
Khew and others say Singapore's highly efficient oil refining industry could help the world meet its demand for petroleum at a lower environmental cost than elsewhere.
Because most of Singapore's petroleum products are not consumed domestically, greenhouse gas emissions generated by the oil refining industry should not be simply counted as Singapore's responsibilities, said Edwin Khew, chairman of the Sustainable Energy Association of Singapore.
When completed in 2011, the plant will make hydrogen from petroleum coke, an oil - refining by - product, in the process storing as much as 4 million tons of carbon dioxide a year in California's oil fields.
A fuel made from palm oil turns out to be worse for greenhouse gas levels in the atmosphere than jet fuel refined from petroleum because it involves clearing rainforest or peatland.
Kerosene refined from such petroleum helped displace the whale oil that lit lamps in the 19th century and led to the near extinction of many whale species.
Glover and other executives said they think the approval process will be smooth because after processing plant oils, «We leave a hydrocarbon that looks exactly like petroleum fuel,» said Jennifer Holmgren, the general manager of renewable energy and chemicals at UOP, the company that derived the plant - oil refining and processing treatment for the Air New Zealand, Continental and Japan Airlines test flights.
In the petroleum industry, carborane may be able to refine oil to boost its octane level, a process that usually requires strong and corrosive acids.
The chemical industry relies on catalysts for 90 percent of its processes — everything from refining oil, turning petroleum into plastic, and producing fertilizers food and medicine, to scrubbing the air of noxious pollutants emitted from cars and factories.
Petroleum jelly is a byproduct of the oil refining process.
Petroleum jelly was originally found in the bottom of oil rigs and is further refined for use in the beauty industry.
Because petrolatum is derived from petroleum (oil), it needs to be refined, and some refining methods use toxic compounds.
The canola oil extraction and refining process typically involves high heat, intense pressure, and toxic petroleum solvents such as hexane, which is known to cause nerve - damage.
Propane, also known as liquefied petroleum gas, is a by - product of natural gas processing and crude oil refining.
Farmers, ranchers and other food growers along with food producers, petroleum companies who either drill for oil or natural gas or refine these products - or both, financial institutions with enormous holdings in treasuries, equities or currencies, mining interests and their buyers - all these areas of production and distribution employ futures trading spreads from time to time as an important aspect of their businesses.
In addition to oil and natural gas exploration and production, Chevron also transports and refines petroleum products for delivery to retail, commercial, industrial and marine customers through a network of pipelines, ships, refineries and service stations.
Valero Energy Partners LP is a fee - based, growth - oriented, traditional master limited partnership recently formed by Valero to own, operate, develop and acquire crude oil and refined petroleum products pipelines, terminals and other transportation and logistics assets.
Valero Energy Partners LP owns, operates, develops and acquires crude oil and refined petroleum products pipelines, terminals and other transportation and logistics assets.
The company's assets consist of crude oil, refined petroleum products pipeline and terminal systems in the gulf coast and mid continent regions of the United States.
The company was formed to own, operate, develop and acquire primarily fee - based crude oil, refined petroleum product and natural gas liquids pipelines and terminals and other transportation and midstream assets.