Sentences with phrase «synthetic crude»
Synthetic crude refers to a type of oil that is created by humans rather than being naturally found in the ground. It is produced by processing a mixture of various substances, such as bitumen or oil sands, to create a substance that closely resembles regular crude oil. Synthetic crude is used as an alternative to traditional crude oil, and it can be refined and used in the same way to produce gasoline, diesel, and other petroleum products. Full definition
With the current price of synthetic crude oil sometimes dipping as low as $ 30 per barrel, a company that has paid off its infrastructure can still make a profit.
dirtyoilsands.org
And in energy, high prices for synthetic crude and liquid natural gas mean producers are generating a lot of extra cash.
Today, synthetic crude oil is trading, in Canadian dollar terms, at well over $ 60 per barrel — a healthy operating profit margin.
Upgrading The process of heating, distillation, and hydrogenation that turns bitumen into synthetic crude oil for refining.
After my post last night got me reading Budget 1980 and the National Energy Program, I stumbled upon something completely fascinating: the hated National Energy Program proposed an indexed price for synthetic crude from oil sands projects which, had it been followed until today, would have been above the Canadian dollar price of WTI in -LSB-...]
The ERCB is projecting the production of synthetic crude oil from bitumen to almost triple over the forecast period.
Producing synthetic crude oil from tar sands generates three times the global warming pollution of conventional crude production.
TCPL wished to construct two new pipelines to deliver synthetic crude from Canadian Natural Resources Limited's Horizon processing plant to a pipeline terminal in the area close to Fort MacKay.
Pedro Pereira - Almao, a heavy - oil researcher who left Hugo Chavez's Venezuela, has developed a catalyst that can «crack» complex bitumen molecules into simpler synthetic crude.
It just means we have to upgrade it into synthetic crude first, which would spur investment and job creation in Canada.
With synthetic crude right now commanding a US$ 14 - a-barrel premium over West Texas Intermediate, the benchmark crude, it may make economic sense too.
State owned Chinese energy companies are not pouring billions of dollars into developing Alberta's oil sands so more synthetic crude or bitumen can be sent to refineries in Cushing Oklahoma.
The driver of this transformation is the Alberta oil sands, which saw production climb to 2.72 million barrels of synthetic crude last year.
Light synthetic crude from the oilsands for June delivery last traded at $ 3.80 below WTI, a larger discount than Tuesday's settle of $ 3.
Suncor's expected production capacity from Syncrude is 205,590 bbls / d capacity of sweet synthetic crude oil.
The Oil Sands segment includes mining, extracts and transports bitumen from oil sands deposits in Alberta, Canada, and upgrades the bitumen to produce and market synthetic crude oil and vacuum gas oil.
Upgrade the material in the oil field, leaving much of the material behind as coke, and pipeline the upgraded material out as synthetic crude.
The Keystone Pipeline System is a pipeline system to transport synthetic crude oil from the Athabasca Oil Sands in northeastern Alberta, Canada to refineries in Illinois and Oklahoma, and further to the U.S. Gulf Coast.
SDTC awards C$ 1.5 M to support Molten Salt Catalyzed Gasification for hydrogen production; targeting reduced GHG footprint for oil sands synthetic crude
Heavy synthetic crude is a blend of premium Albian synthetic sweet components with LC Finer bottoms.
Dilbit, unlike synthetic crude, also is more acidic and corrosive than conventional oil.
In addition, the Draft EIS addresses oil in general and as explained earlier, it may not be appropriate to assume this bitumen crude / synthetic crude shares the same characteristics as other oils.»
Extracting and converting a typical barrel of synthetic crude in Alberta generates nearly 200 percent greater emissions than extracting the average barrel of oil consumed in the United States.
This has called upon Devoe's suite of business skills, acquired over several years as senior counsel at synthetic crude oil producer Suncor, to leverage relationships with partner firms and extract the maximum value from the resources available to the team.
The break - even for mining projects, though, had climbed to $ 85 - 95 / bbl if the project included an upgrader, a facility that turns bitumen into synthetic crude oil.
At the site, there are facilities for heating and compressing the bitumen while adding hydrogen to the naturally carbon - rich mix to produce synthetic crude oil.
Their move to rail comes as the Obama administration continues to weigh an application for the Keystone XL pipeline, which would deliver synthetic crude oil and bitumen, an oil - containing substance, from Alberta to refineries on the Gulf Coast.
If we look at CNRL's operations at Horizon, we can get a good sense of the value of a pure play in this space — through the third quarter of 2014, before the oil price crash really took hold, the operating costs for synthetic crude oil production at Horizon were $ 38.31 per barrel.
Net energy and greenhouse gas emissions analysis of synthetic crude oil produced from Green River oil shale.
As it is, synthetic crude from the oilsands is 38 % less carbon - intensive than it was 20 years ago, thanks to productivity improvements as simple as using larger dump trucks to transport the ore rather than smaller dumpers and conveyor systems.
The Alberta government could see to it that the energy producers refined the stuff into synthetic crude oil on site but this is a high - cost, high - carbon asset already at some risk of becoming «stranded.»
Canadian producers of light oil and synthetic crude (oilsands product that has been through an upgrader) are the ones most threatened by the rise of shale oil and tight oil, with which they compete head to head.
It bought a small refinery in Great Falls, Mont., to hedge against a huge spread between bitumen and synthetic crude oil prices.
Gil McGowan, president of the Alberta Federation of Labour, recently pointed out to the federal Standing Committee on National Resources that two - thirds of Alberta's oilsands bitumen used to be upgraded in the province, by being either transformed into synthetic crude or refined into higher - value products such as gasoline, diesel or jet fuel.
Murphy has a 5 percent stake in Syncrude Canada Ltd, one of Canada's largest oil sands plants with the capacity to produce 350,000 barrels of synthetic crude oil per day.
People worked at Syncrude or Suncor, scooping up bitumen and processing it into synthetic crude.
As such, it's not at all clear that the Province has the right to enact the powers it is attempting to here over refined products, although it clearly does have the broad power to restrict exports in the case of crude oil, synthetic crude oil, and bitumen and other resources.
Annual production of non-upgraded bitumen and synthetic crude oil from Alberta's oil sands will increase almost 2.5 times by 2017 from 2007 levels, according to the just - published report... Read more →
Source: RAND A new report from RAND concludes that in 2025, synthetic crude oil (SCO) produced from oil... Read more →
Quest will capture one - third of the emissions from Shell's Scotford Upgrader, which turns oil sands bitumen into synthetic crude that can be refined into fuel and other products, Shell said.
It proposes to capture up to one - third of the emissions from a plant that transforms oil sands bitumen into synthetic crude.
«Without more information on the chemical characteristics of the diluent or the synthetic crude, it is difficult to determine the fate and transport of any spilled oil in the aquatic environment,» wrote the EPA in response to the U.S. State Department's Draft Environmental Impact Statement for the Keystone XL Pipeline.
Some tar sands producers use on - site upgrading facilities to turn the bitumen into synthetic crude, which is similar to conventional crude oil.
To top it all off, it gets the full Kolbert in the New Yorker, who describes the wild growth of this industry that has turned an area the size of Florida into a close approximation of Mordor: «For every barrel of synthetic crude that Suncor eventually produces, forty - five hundred pounds of tar sands have to be dug up and separated... It's estimated that by 2012 tar - sands operations will consume two billion cubic feet of natural gas a day, more than every house in Canada.»
Energy economist Andrew Leach has looked at the economics of refining in Canada (here, here and here) and claims that producers can make more money by selling raw bitumen than they could by upgrading it to synthetic crude oil or by refining it into fuel products.