ASPHALT SUPPLY IN A VOLATILE OIL WORLD. Bill Haverland ConocoPhillips Company
|
|
- Abigayle Sims
- 7 years ago
- Views:
Transcription
1 ASPHALT SUPPLY IN A VOLATILE OIL WORLD Bill Haverland ConocoPhillips Company
2 Issues to be Discussed Crude Oil Supply Crude Oil Pricing Refining Capacity Products Supply Products Pricing Future of the Industry
3 CRUDE OIL SUPPLY A WORLD LOOK
4 Crude Oil Supply (2006) World Crude Oil Production Millions of Barrels Per Day FSU/E. Europe Middle East Africa 9.8 W. Europe Total: 85MMB/D Latin America US/Canada Asia/Pacific Asia/Pacific Africa World Proven Crude Oil Reserves Billions of Barrels FSU/E. Europe 743 W. Europe Latin America Middle Middle East East Total: 1,292 BB US/Canada Asia /Pacific Africa
5 Crude Oil Demand Demand has risen by 7 MMBD (9%) since Demand at 85 MMBD or 98% of world daily delivery capacity. Vulnerable to supply disruptions caused by storms, accidents, breakdowns, political unrest. 65% of proven reserves within national oil companies and 16% held by Russia. Traditional companies have full access to 7% of reserves and 12% through partners (if allowed).
6 CRUDE OIL PRICING
7 WTI Price by Year YTD
8 1Q Q 2006 WTI Price by Quarter Q Q Q Q Q 2005
9 Current Crude Pricing
10 REFINING CAPACITY
11 Topping Refinery 650- GASES NAPHTHA AND CRUDE OIL DU 650+ Tea Pot Not A Refinery Really Just A Crude Distiller GASOIL FEEDSTOCKS 6OIL or ASPHALT (if heavy crude)
12 Simple Refinery 650- GASES NHT CRU TO MOGAS KHT JET/KERO CRUDE OIL DU 650+ DHT Hydroskimming Refinery, many exist all over the world TO NO.2 6OIL or ASPHALT (if heavy crude)
13 CCU - Complex Refinery GASES 650- NHT CRU TO MOGAS TO MOGAS KHT JET/KERO DHT TO 2OIL CRUDE OIL DU 650+ GASES VAC CCU ALKY GASOLINE GASOIL TO MOGAS TO MOGAS TO 2OIL OIL ASPHALT
14 CCU/HCU/Coker - Very Complex Refinery GASES NHT KHT CRU ISOM TO MOGAS TO MOGAS JET/KERO CRUDE OIL DU H2 PLANT GASES HCU GASES CCU DHT MTBE ALKY TO 2OIL TO MOGAS TO MOGAS TO MOGAS VAC GASES COKER TCU/VIS DEASPHALTER COKE
15 Refinery Yield (% of Crude Intake) 120% 110% 100% 90% 80% 70% 60% 50% 40% 30% 20% OTHER MOGAS JET LT NAPH HVY NAPH GAS OIL NO.2 NO6 or Asphalt COKE 10% 0% TOPPING RFY SIMPLE RFY CCU RFY COKER RFY
16 U. S. Refining Capacity more than 30 less than 30 Crude Dist Cap Last New U. S. Refinery Built in 1976 Source: Oil & Gas Journal
17 U. S. Asphalt Refining Capacity # Refineries Asphalt Capacity Production Range: 600 B/D to 60,000 B/D Source: Oil & Gas Journal
18 U. S. Refining Coking Capacity # Refineries w/cokers Coke Production, MT/D
19 U.S. Coker Construction Projects Planning, Engineering, or Construction Phase Total Refineries: 360 MB per day Asphalt Refineries: 197 MB per day * Source: Argus Asphalt Report
20 PRODUCTS SUPPLY/DEMAND
21 Supply Source for U. S. Demand Domestic Crude Production Imported Crude Imported Products MMB/D '95 '96 '97 '98 '99 '00 '01 '02 '03 '04 '05 '06
22 U. S. Product Demand, MB/D Gasoline Diesel Jet Resid Asphalt
23 Historical Asphalt Supply/Demand Millions Tons - Liquid Supply Demand Source: Oil & Gas Journal
24 PRODUCTS PRICING
25 1Q Q Q 2005 Prices by Quarter WTI Gasoline 1Q Q Q Q Q 2004
26 Gasoline Price Components
27 1Q '07 1Q '06 1Q '05 Prices by Quarter WTI Gasoline Asphalt 1Q '00 1Q '01 1Q '02 1Q '03 1Q '04
28 Asphalt vs Coker Feed Value Jan-02 May-02 Sep-02 Jan-03 May-03 Sep-03 Jan-04 May-04 Sep-04 Jan-05 May-05 Sep-05 Jan-06 May-06 Sep-06 Jan-07 May-07 WTI P&P MC Avg gulf coast coker value
29 Current Coking Economics Gasoline/Diesel Pricing Aug., 07 Price: $95.00/BBL Less Distribution: 6.00/BBL Net to Refinery: $89.00/BBL Kansas City Asphalt Pricing Aug 07: $54.50/BBL* ($40/Ton): $7.15/BBL $47.35/BBL Lost Value: $41.65/BBL * Source Poten & Partners
30 Current Coking Economics 30,000 BBLS/Day Asphalt Production X 70% Gasoil Production 21,000 BBLS Gasoil for Gasoline/Diesel X $41.65/BBL Gasoline/Diesel diff. To Asphalt $874,650 per day added margin $1 Billion / $874,650 = 1,143 days (3.1 years payoff)
31 FUTURE OF THE INDUSTRY
32 Current Realities Crude production at maximum rates based on existing infrastructure U.S. refining running at maximum capacity (less turnaround activity) No new refineries in the near term Existing refinery expansions must fill gap Increase crude capacity and conversion capabilities to meet light product demand Asphalt must keep pace with conversion feed values to encourage production
33 Factors Influencing Asphalt Price Absolute price of crude (WTI benchmark) Light/Heavy crude price differential Light product crack spread Coking economics Impact of clean fuels (sweet crudes) Heavy crude availability (Venezuela/Canadian) Transportation costs Supply/Demand
34 Future For Asphalt More heavy crude being run (availability and price) Clean fuels capital behind refiners, up-graders next? Asphalt is more expensive in a $70.00 crude world Asphalt has to trend faster with crude oil prices Asphalt has to be more competitive with light products Transportation costs rising Rail, Barge, Terminalling State asphalt price indexes reduce supplier/contractor risk
35 QUESTIONS
OIL MARKETS AND THEIR ANALYSIS IEA ENERGY TRAINING WEEK PARIS, APRIL 2013
OIL MARKETS AND THEIR ANALYSIS IEA ENERGY TRAINING WEEK PARIS, APRIL 2013 A (VERY) BRIEF OVERVIEW OF THE OIL INDUSTRY End consumers buy refined products (eg gasoline / diesel) Refineries buy crude oil
More informationMaximize Conversion and Flexibility
Maximize Conversion and Flexibility The UOP TM Robert Haizmann UOP LLC 6 th Russia & CIS BBTC Conference April 13-14, 2011 Moscow, Russia 2011 UOP LLC. All rights reserved. Maximize Conversion and Flexibility
More informationRoom XXVI Palais des Nations Geneva, Switzerland. Oil Market Outlook. Eissa B. Alzerma Oil Price Analyst Petroleum Studies Department, OPEC
UNCTAD Multi-Year Expert Meeting on Commodities and Development 2013 Recent developments and new challenges in commodity markets, and policy options for commodity-based inclusive growth and sustainable
More informationOil markets, oil prices, and the financial crisis. Havana, October 30, 2009 Joel R. Couse, VP Market Analysis for Trading & Shipping
Oil markets, oil prices, and the financial crisis Havana, October 3, 29 Joel R. Couse, VP Market Analysis for Trading & Shipping Oil is the World s biggest physical commodity market: over 15% of world
More informationImpact of low crude prices on refining. February 2015. Tim Fitzgibbon Agnieszka Kloskowska Alan Martin
Impact of low crude prices on refining February 2015 Tim Fitzgibbon Agnieszka Kloskowska Alan Martin The recent fall in crude oil prices has coincided with both higher and lower profitability in the downstream
More informationPETROLEUM COKE VS STEAM COAL
PETROLEUM COKE VS STEAM COAL The Fundamentals Phillip H. Fisher Coal Trans 2001 Prague Phillip H. Fisher 2 years coke consulting experience with producers, resellers, and logistics companies 31 years with
More informationRefinery Evaluation Model
Refinery Evaluation Model Refinery Evaluation Model Independent Appraisal of Refinery Competitive Position SATORP s Jubail Project: The rise of a new wave of export refineries Wood Mackenzie 0 Introduction
More informationInvestment Options for Crude & Condensate Stabilization and Splitting
Investment Options for Crude & Condensate Stabilization and Splitting Ryan M. Couture Senior Consultant 2015 AFPM Annual Meeting March 23, 2015 San Antonio, TX Presentation Outline U.S. Production and
More informationBULLETIN #113 UPDATED JULY 14, 2015 COMPANY ANALYSIS NORTHERN TIER ENERGY NTI:NYSE
BULLETIN #113 UPDATED JULY 14, 2015 COMPANY ANALYSIS NORTHERN TIER ENERGY NTI:NYSE NTI is a pure-play, mid-continent refinery. It s a variable rate MLP (Master Limited Partnership) which pays out a big
More informationPet Coke Consulting, LLC. Phil Fisher Argus Conference, Houston September 19-21, 2012
Pet Coke Consulting, LLC Phil Fisher Argus Conference, Houston September 19-21, 2012 Will Pet Coke continue to be made over next 25 years? To answer, we need to know: What drives pet coke production? How
More informationOil & Gas Market Outlook. 6 th Norwegian Finance Day Marianne Kah, Chief Economist March 2, 2016
Oil & Gas Market Outlook 6 th Norwegian Finance Day Marianne Kah, Chief Economist March 2, 2016 Challenging Market Environment Concerns that global economic growth will slow and reduce global oil and natural
More informationCRG CONSERVE RESOURCES GROUP ECO ENVIRONMENTAL ENGINEERING TECHNOLOGIES. NEW State of the Art. Advanced OIL REFINERY TECHNOLOGY & PROCESSES
NEW State of the Art Advanced OIL REFINERY TECHNOLOGY & PROCESSES TABLE OF CONTENTS Introduction ( Part 1 ) Comparison Advantages Information Appendix Result of Fraction Refinery Economic indicator + Supporting
More informationAdding fuel to the fire North America s hydrocarbon boom is changing everything. Steven Meersman. Roland Rechtsteiner
Adding fuel to the fire North America s hydrocarbon boom is changing everything Steven Meersman Mark Pellerin Roland Rechtsteiner What if the gasoline that you put in your car came from natural gas instead
More informationOil and Natural Gas Outlook: Implications for Alaska The Alliance Meet Alaska. Remarks by Marianne Kah Chief Economist
Oil and Natural Gas Outlook: Implications for Alaska The Alliance Meet Alaska Remarks by Marianne Kah Chief Economist Cautionary Statement The following presentation includes forward-looking statements.
More informationGlobal Biofuels Outlook to 2020. Alternative Aviation Fuel In Asia Singapore February 15-16, 2012
Global Biofuels Outlook to 2020 Alternative Aviation Fuel In Asia Singapore February 15-16, 2012 Overview 1. Global Product Demand 2. Global Biofuels Mandate 3. Biofuels Penetration in the Global On-road
More informationASimple Guide to Oil Refining
ASimple Guide to Oil Refining We all know that motor oil and gasoline come from crude oil. What many people do not realize is that crude oil is also the starting point for many diverse products such as
More informationOutlook for Russia s downstream industry, infrastructure development and evolving export strategy
Outlook for Russia s downstream industry, infrastructure development and evolving export strategy Maxim Nesmelov Deputy Director of crude and oil products trading Department, Head of products trading E-mail:
More informationEnergy Value Chains. What is a Value Chain?
Energy s Overview of Fundamentals Center for Energy Economics, UT-Austin. No reproduction, distribution or attribution without permission. 1 What is a? The process of linking specific functions from input
More informationThe Changing Relationship Between the Price of Crude Oil and the Price At the Pump
In 2007, what goes up, does not necessarily come down... May 3, 2007 The Changing Relationship Between the Price of Crude Oil and the Price At the Pump Prepared by: Tim Hamilton Petroleum Industry Consultant
More informationState of the Oil Markets?
State of the Oil Markets? U.S. and Global Refining Prospects John R. Auers, P.E. Executive Vice President Washington DC February 17, 2016 U.S. Refining is YUGE! 2 What Determines Refining Winners? Refined
More informationOutlook for Oil and Natural Gas Markets
Outlook for Oil and Natural Gas Markets Helen Currie, PhD Senior Economist Legislative Finance Committee State of New Mexico 09-July-2014 Farmington, New Mexico Cautionary Statement The following presentation
More informationThe Fuel and Vehicle Trends Report January 31, 2014
ISSN 1948-2388 The Fuel and Vehicle Trends Report This report is a summary of the latest fuel prices and other oil industry key statistics. In addition, this report provides the latest trends in vehicle
More informationJet Fuel Prices ($/mt) Diesel (ULSD) Prices ($/mt) Gasoil Prices ($/mt) No News From OPEC Sends Oil Into Tailspin
Friday, 4 December, 2015 Jet Fuel Prices ($/mt) Spot Diff (LS Gasoil) Change Outright Change Low High Current Cal Prior Cal Barge Fob 23.50 2.88 419.250 3.38 418.75 419.75 415.573 444.669 NWE Fob 18.00
More informationU.S. Crude Oil Pricing Analysis
Alan Stevens, President Stancil & Co. 400 E. Las Colinas Boulevard Suite 700 Irving, Texas 75039 214.688.0255 www.stancilco.com Table of Contents I. Introduction and Summary of Findings... I-1 Historical
More informationIntroduction to Oil & Gas Industry, Accounting & Financial Statement Analysis. Copyright by Wall Street Prep, Inc. All rights reserved 1
Introduction to Oil & Gas Industry, Accounting & Financial Statement Analysis Copyright by Wall Street Prep, Inc. All rights reserved 1 A number of distinct yet interconnected sectors There are a number
More informationSuncor Denver Refinery Overview
Suncor Denver Refinery Overview COQA June 10, 2010 Randy Segato Denver Refinery Suncor History Integration Projects Project Odyssey Crude Qualities Suncor Synthetics Canadian Heavy Colorado Sweet other
More informationPETROLEUM WATCH September 16, 2011 Fossil Fuels Office Fuels and Transportation Division California Energy Commission
PETROLEUM WATCH September 16, 2011 Fossil Fuels Office Fuels and Transportation Division California Energy Commission Summary As of September 14, retail regular-grade gasoline prices in California increased
More informationThird-Quarter 2012 Earnings
Third-Quarter 212 Earnings Jim Gallogly, Chief Executive Officer Karyn Ovelmen, Chief Financial Officer Sergey Vasnetsov, SVP - Strategic Planning and Transactions Doug Pike, VP - Investor Relations October
More informationEurope s Refining Industry under Pressure Medium Term Outlook and Implications for Security of Supply
Europe s Refining Industry under Pressure Medium Term Outlook and Implications for Security of Supply Network Oil & Gas Seminar Stockholm, 31 October 2012 Toril Bosoni About the IEA The IEA was established
More informationENERGY RISK MANAGEMENT
ENERGY RISK MANAGEMENT Howard Rennell, Pat Shigueta, & Karen Palladino (212) 624-1132 (888) 885-6100 www.e-windham.com ENERGY MARKET REPORT FOR APRIL 28, 2011 The EIA reported that its US oil demand estimate
More informationThe future of oil refining refining in in Europe Europe
The future of oil refining in Europe BP Forum The future of oil refining in Europe 2 The future of oil refining in Europe In recent years Europe s refining sector has been hardpressed by a combination
More informationINTRODUCTION. Production / Extraction of Oil. Distribution & Sale to refined products to end users
CRUDE OIL INTRODUCTION Crude oil holds prominence as input to the global growth engine since it is the most important source of energy accounting for more than two fifth of the global energy consumption.
More informationPlatts Forward Curve-Oil
[OIL ] METHODOLOGY AND SPECIFICATIONS GUIDE Platts Forward Curve-Oil (Latest Update: ) OIL Derivatives methodology guide 2 Market Methodology 2 GENERAL ASSESSMENT PRINCIPLES 2 Disclosure 2 ASIA PACIFIC
More informationPlatts Oil Benchmarks & Price Assessment Methodology. October 4, 2012 - London
Platts Oil Benchmarks & Price Assessment Methodology October 4, 2012 - London Agenda Introduction and the role of benchmarks Platts price discovery process Global commodity markets outlook Platts MOC liquidity:
More informationThe Economics of Petroleum Refining. Understanding the business of processing crude oil into fuels and other value added products
The Economics of Petroleum Refining Understanding the business of processing crude oil into fuels and other value added products December 2013 Acknowledgements The Canadian Fuels Association acknowledges
More informationAppendix A - Technical Report OS#1 Markets and Pricing for Alberta Bitumen Production. Alberta Crude Density and Type
Appendix A - Technical Report OS#1 Markets and Pricing for Alberta Bitumen Production Introduction Bitumen prices form the basis for royalty calculation and valuation for all new oil sands projects since
More informationSARAS Preliminary FY 2015 and Q4 2015 results
SARAS Preliminary FY 2015 and Q4 2015 results 29 th February 2016 29 Feb 2016 Saras SpA 1 AGENDA Highlights Segments Review Financials Outlook & Strategy Additional Information DISCLAIMER Certain statements
More information3/11/2015. Crude Oil Price Risk Management. Crude Oil Price Risk Management. Crude Oil Price Risk Management. Outline
1 Phoenix Energy Marketing Consultants Inc. 2 Outline What is crude oil price risk management? Why manage crude oil price risk? How do companies manage crude oil price risk? What types of deals do companies
More informationProducer Hedging the Production of Heavy Crude Oil
Producer Hedging the Production of Heavy Crude Oil An oil producer sells its future production of heavy crude oil to a customer at an agreed-upon price today. The producer seeks to lock-in this price to
More informationPlutonio Crude oil from Angola
Plutonio Crude oil from Angola Introduction to Plutonio Plutonio is a new low sulphur (0.36% wt.) medium gravity (33.2ºAPI) crude oil from Angola s deepwater block. The Greater Plutonio development area
More informationAnalysis of Whether the Prices of Renewable Fuel Standard RINs Have Affected Retail Gasoline Prices
Analysis of Whether the Prices of Renewable Fuel Standard RINs Have Affected Retail Gasoline Prices A Whitepaper Prepared for the Renewable Fuels Association Key Findings Changes in prices of renewable
More informationShort-Term Energy Outlook Market Prices and Uncertainty Report
July 2014 Short-Term Energy Outlook Market Prices and Uncertainty Report Crude Oil Prices: After an upward move in mid-june, crude oil prices retreated close to previous levels. The North Sea Brent front
More informationTonenGeneral Sekiyu K.K. Business Strategy and 2007 Financial Results
TonenGeneral Sekiyu K.K. Business Strategy and 2007 Financial Results February 15, 2008 at TSE Arrows This material contains forward-looking statements based on projections and estimates that involve many
More informationA Closer Look More opportunities to hedge account non-financial items
A Closer Look More opportunities to hedge account non-financial items Introduction This month the International Accounting Standards Board (IASB) issued a draft of the new proposals for hedge accounting
More informationOptimal Model-Based Production Planning for Refinery Operation
Optimal Model-Based Production Planning for Refinery Operation Abdulrahman Alattas Advisor: Ignacio E. Grossmann Chemical Engineering Department Carnegie Mellon University 1 Presentation Outline Introduction
More informationShort-Term Energy Outlook Market Prices and Uncertainty Report
February 2016 Short-Term Energy Outlook Market Prices and Uncertainty Report Crude Oil Prices: The North Sea Brent front month futures price settled at $34.46/b on February 4 $2.76 per barrel (b) below
More informationManufacturing Light Oil From Heavy Crude Ratqa Field, North Kuwait Dr. Luis C. Luzardo M. Kuwait Oil Company (KOC) Heavy Oil Development Group
SPE 127477 Manufacturing Light Oil From Heavy Crude Ratqa Field, North Kuwait Dr. Luis C. Luzardo M. Kuwait Oil Company (KOC) Heavy Oil Development Group Copyright 2009, Society of Petroleum Engineers
More information2015 JET FUEL PRICE FORECAST
2015 JET FUEL PRICE FORECAST Airlines The prospects for airlines are dependant on economic recovery. There is little to indicate an early end to the downturn. It will be a grim 2009. And while prospects
More informationEIA s U.S. Crude Oil Import Tracking Tool: Selected Sample Applications
EIA s U.S. Crude Oil Import Tracking Tool: Selected Sample Applications November 2014 Independent Statistics & Analysis www.eia.gov U.S. Department of Energy Washington, DC 20585 This report was prepared
More informationKeeping Our Options Open: Markets for Canadian Crude and the Pipeline Dilemma
Keeping Our Options Open: Markets for Canadian Crude and the Pipeline Dilemma Trisha Curtis, Research Analyst Energy Policy Research Foundation, Inc. (EPRINC) CERI Oil Conference 2012 April 23 rd, 2012
More informationEffects of Removing Restrictions on U.S. Crude Oil Exports
Effects of Removing Restrictions on U.S. Crude Oil Exports September 2015 Independent Statistics & Analysis www.eia.gov U.S. Department of Energy Washington, DC 20585 This report was prepared by the U.S.
More informationRefining of Crude Oil - Process
Introduction: The process of producing valuable Petroleum Products from Crude Oil is termed as Oil Refining. Refining is a complex engineering application which involves both Physical and Chemical processes
More informationHeidmar Tanker Pools Trading insights from the front line: Strategies for maximizing returns in shifting markets
Heidmar Tanker Pools Trading insights from the front line: Strategies for maximizing returns in shifting markets June 2013 2 About Heidmar Heidmar is the world s leading independent tanker pool manager
More informationEnergy Efficiency s Role in Getting America Out of Its Energy Straightjacket
Energy Efficiency s Role in Getting America Out of Its Energy Straightjacket R. Neal Elliott, Ph.D., P.E. Industrial Program Director ACEEE Jan-06 Industrial Energy Prices 17.00 15.00 13.00 11.00 9.00
More informationIntercontinentalExchange. Credit Suisse Financial Services Forum February 7, 2008
IntercontinentalExchange Credit Suisse Financial Services Forum February 7, 2008 Forward-Looking Statements Forward-Looking Statements This presentation may contain forward-looking statements made pursuant
More informationCrude Oil: What every investor needs to know By Andy Hecht
Crude Oil: What every investor needs to know By Andy Hecht Crude oil is considered by many to be the most important commodity market in the world. The value of crude oil affects almost every individual
More informationFUEL OIL Crude Condensate Naphtha Ethane Reformate
FUEL OIL Crude The Crude Overview gives a summary of the daily price movements of the benchmark WTI (West Texas Intermediate) and Brent futures contracts on the NYMEX and IPE exchanges, detailing any significant
More informationOil and Gas U.S. Industry Outlook
Oil and Gas U.S. Industry Outlook VERSION 01 YEAR 13 OUTLOOK: Positive fundamentals & outlook www.eulerhermes.us Key points WTI Crude is expected to continue to converge to Brent crude prices, narrowing
More informationA NEW BEGINNING STARTS WITH ONE S TEP. CAPABILITIES BROCHURE
A NEW BEGINNING STARTS WITH ONE S TEP. CAPABILITIES BROCHURE SemGroup Corporation is a publicly held company that moves energy through a network of pipelines, terminals and storage tanks. Each step we
More informationThe Global Economic Impacts of Oil Price Shocks
The Global Economic Impacts of Oil Price Shocks Presented to: Project LINK, United Nations New York, NY November 22, 2004 Presented by: Sara Johnson Managing Director, Global Macroeconomics Group 781-301-9115
More informationEconomic Benefits of Lifting the Crude Oil Export Ban
Economic Benefits of Lifting the Crude Oil Export Ban Prepared for: The Brookings Institution September 9, 2014 Project Team/Authors Robert Baron Paul Bernstein W. David Montgomery Reshma Patel Sugandha
More informationImplications of Residual Fuel Oil Phase Out
Implications of Residual Fuel Oil Phase Out By David Ramberg, Center for Energy and Environmental Policy Research and the Joint Program on the Science and Policy of Global Change, Massachusetts Institute
More informationLNG Poised to Significantly Increase its Share of Global Gas Market David Wood February 2004 Petroleum Review p.38-39
LNG Poised to Significantly Increase its Share of Global Gas Market David Wood February 2004 Petroleum Review p.38-39 For the past few years LNG has experienced high levels of activity and investment in
More informationICE Middle East Sour Crude Oil Futures Contract: FAQ
ICE Middle East Sour Crude Oil Futures Contract: FAQ 1. Why are we launching a sour crude contract? To provide a hedging tool to accommodate risk management needs in the global market for sour crude oil.
More informationPETROBRAS ARGENTINA S.A.
PETROBRAS ARGENTINA S.A. First Quarter 2014 Results Buenos Aires, April 25, 2014 Petrobras Argentina S.A. (Buenos Aires: PESA NYSE: PZE) announces the results for the first quarter ended March 31, 2014.
More informationCANADIAN NATURAL RESOURCES LIMITED ANNOUNCES 2014 FOURTH QUARTER AND YEAR END RESULTS CALGARY, ALBERTA MARCH 5, 2015 FOR IMMEDIATE RELEASE
CANADIAN NATURAL RESOURCES LIMITED ANNOUNCES FOURTH QUARTER AND YEAR END RESULTS CALGARY, ALBERTA MARCH 5, 2015 FOR IMMEDIATE RELEASE Commenting on fourth quarter and year end results, Steve Laut, President
More informationAnalysts Briefing. 2013 Half Year Result. 23 August 2013
Analysts Briefing 2013 Half Year Result 23 August 2013 1 Disclaimer This presentation contains forward looking statements concerning the financial condition, results and operations of The New Zealand Refining
More informationCanadian Oil Sands' Second Quarter Results Reflect Continued Progress on Syncrude's Cost Reduction Efforts
July 30, 2015 TSX: COS Canadian Oil Sands' Second Quarter Results Reflect Continued Progress on Syncrude's Cost Reduction Efforts All financial figures are unaudited, have been prepared in accordance with
More informationPresentation on Results for the 2nd Quarter FY 2015. Idemitsu Kosan Co.,Ltd. November 4, 2015
Presentation on Results for the 2nd Quarter FY 2015 Idemitsu Kosan Co.,Ltd. November 4, 2015 Table of Contents 1. 2 nd Quarter FY 2015 Financials (1) Overview (2) Segment Information (3) Streamlining 2.
More informationSOCAR TURKEY AEGEAN REFINERY
SOCAR TURKEY AEGEAN REFINERY SOFITEL HOTEL, BUDAPEST HUNGARY 13 th October- 15 th October 2015 STAR REFINERY INTEGRATION PROJECT UPDATE ROBERT STOREY CEO ADVISOR. SOCAR TURKEY ENERJİ A.Ş October 2013 Trends
More informationHow To Price Oil
B A C K G R O U N D E R OIL The Structure of Global Oil Markets June 2010 BACKGROUNDER: The Structure of Global Oil Markets WHAT ARE THE VARIOUS OIL TRADING STRUCTURES? Total world production of crude
More informationECONOMICS PROCESS ECONOMICS PROGRAM. Report No. 107. by JOHN L. CHADWICK. February 19 77. A private report by the STANFORD RESEARCH INSTITUTE
Report No. 107 OF CHEMICAL ECONOMICS REFINERIES by JOHN L. CHADWICK February 19 77 A private report by the PROCESS ECONOMICS PROGRAM STANFORD RESEARCH INSTITUTE I I MENLO PARK, CALIFORNIA For detailed
More informationGlossary of Energy Terms
Glossary of Energy Terms A API gravity A measure of the weight of hydrocarbons according to a scale established by the American Petroleum Institute. Crude oils with higher values are lighter and tend to
More informationTHE GLOBAL SOURCE FOR COMMODITIES KOCH SUPPLY & TRADING
THE GLOBAL SOURCE FOR COMMODITIES KOCH SUPPLY & TRADING KOCH SUPPLY & TRADING: CAPABILITIES Refined Products Crude Oil Global crude oil markers (WTI, Brent, Dubai) and grades of oil priced off these markers
More informationPresentation on Results for the 1st Quarter FY 2014. Idemitsu Kosan Co.,Ltd. August 5, 2014
Presentation on Results for the 1st Quarter FY 2014 Idemitsu Kosan Co.,Ltd. August 5, 2014 Table of Contents 1. FY 2014 1 st Quarter Financials (1) Overview (2) Segment Information (3) Streamlining (4)
More informationEI Data Service useful information: DSI01a A glossary of selected oil trading terms A B C D E F G H I J K L M N O P R S T U V W
EI Data Service useful information: DSI01a A glossary of selected oil trading terms A B C D E F G H I J K L M N O P R S T U V W 21 Day BFOE market: A forward market, trading in physical cargoes of 600,000
More informationInvesting In the Downstream:
Investing In the Downstream: The Point Of View of a National Oil Company Dr. Shokri M. Ghanem Chairman The National Oil Corporation of Libya Good afternoon ladies and gentlemen. Indeed I am delighted to
More informationMini Oil Refinery Review. Rifka Aisyah
Mini Oil Refinery Review Rifka Aisyah 1 About Mini Oil Refinery Capacity is about 4000 30 000 BPD. Usually built to fulfill oil demand in remote region. Modular mini oil refinery is used because relatively
More informationKEY ISSUES IN OIL INVENTORIES
KEY ISSUES IN OIL INVENTORIES Third IEA IEF OPEC Symposium on Energy Outlooks Riyadh, 22 January, 2013 Joel R. Couse VP Market Analysis for Trading & Shipping TOTAL SA 1 WORLD SUPPLY/DEMAND BALANCE 94
More informationRefinery Equipment of Texas. Mini - Refinery Feasibility Overview
Mini - Refinery Feasibility Overview Introduction This paper is intended to provide information, answer questions, and assist the owner or project developer in making informed buying decisions. A mini-refinery
More informationCORRAL PETROLEUM HOLDINGS AB (publ)
CORRAL PETROLEUM HOLDINGS AB (publ) REPORT FOR THE FOURTH QUARTER AND YEAR ENDED DECEMBER 31, 2011 FOR IMMEDIATE RELEASE Date: March 30, 2012 London Nr. of pages 14 This report includes unaudited consolidated
More informationFOURTH QUARTER 2015 Report to Shareholders for the period ended December 31, 2015
FOURTH QUARTER 2015 Report to Shareholders for the period ended, 2015 MEG Energy Corp. reported fourth quarter and full-year 2015 operating and financial results on February 4, 2016. Highlights include:
More informationOpportunities for optimization of refineries using. Thermal Conversion technologies
Opportunities for optimization of refineries using Thermal Conversion technologies by F. Hollander, A. Keukens, M. van Es ABB Lummus Global, The Hague, The Netherlands & B. Douwes Shell Global Solutions,
More informationWhat Drives U.S. Gasoline Prices?
What Drives U.S. Gasoline Prices? October 2014 Independent Statistics & Analysis www.eia.gov U.S. Department of Energy Washington, DC 20585 This report was prepared by the U.S. Energy Information Administration
More informationThe divorce between Brent and the oil prices
The divorce between Brent and the oil prices Salvatore Carollo ENI For some years now, the price of oil has been out of control. None of the of the industry players either oil companies, producing or consuming
More informationGAS TO LIQUIDS (GTL)
TOPIC PAPER #9 GAS TO LIQUIDS (GTL) On July 18, 2007, The National Petroleum Council (NPC) in approving its report, Facing the Hard Truths about Energy, also approved the making available of certain materials
More informationSTRATEGIC CONSULTING AND INDUSTRY ADVISORY SERVICES Merger and Acquisition Support
Baker & O Brien s due diligence experts often work closely with and advise financial teams on a wide range of technical and economic issues that impact the hydrocarbon processing industries. Our consultants
More informationsite Storage 7 million gallons of feedstock storage and 10 million of biodiesel storage Plant Info
AFOA 2015 Company Highlights Premier operating asset in the industry in terms of: Scale single largest biodiesel production site in North America Flexibility pretreatment system enables use of lower grade
More informationWeekly Petroleum Status Report
DOE/EIA-0208(2013-04) Distribution Category UC-98 Data for Week Ended: January 25, 2013 Weekly Petroleum Status Report EIA DATA ARE AVAILABLE IN ELECTRONIC FORM The tables in the Weekly Petroleum Status
More informationA Survey on Pricing of Asian Marker Crude Oil and Formation of Appropriate Market Prices 1
A Survey on Pricing of Asian Marker Crude Oil and Formation of Appropriate Market Prices 1 Yasuhiko Nagata, Senior Economist, Oil and Gas Strategy Group, Strategy and Industry Research Unit Sanae Kurita,
More informationExecutive Summary: Midland s Three Divisions: Exploration & Production
Executive Summary: Midland Energy Resources, Inc. is a global energy company with a broad array of products and services. The company operates within three different operations including oil and gas exploration
More information2011 Interim Results Presentation. Athens, 31 August 2011
2011 Interim Results Presentation Athens, 31 August 2011 AGENDA Results Highlights Business Units Performance Financial Results Q&A 1 RESULTS HIGHLIGHTS INDUSTRY ENVIRONMENT: Conditions remain difficult
More informationEnergy Measurements and Conversions
Updated September, 2007 File C6-86 http://www.extension.iastate.edu/agdm/wholefarm/html/c6-86.html Energy Measurements and Conversions Don Hofstrand, extension value-added agriculture specialist, co-director
More informationArgus US Products. Overview. Price Summary. In the News See page 15 Announcement
Argus US Products www. argusmedia.com Argus US refined products market prices, analysis and news Issue 10E -188 Friday 24 September 2010 Summary c/usg New York Houston Chicago L.A. Conventional 197.71
More informationSulphur in Nigerian Diesel
Sulphur in Nigerian Diesel Aminu Jalal National Automotive Council, Abuja, Nigeria, At National Sensitisation Workshop on Sulphur Reduction in Vehicle Fuels, Lome, Togo, 17-18 June 2008 Outline Introduction
More informationExporting Energy Security. Keystone XL Exposed
Exporting Energy Security Keystone XL Exposed An Oil Change International Briefing September 2011 Oil Change International campaigns to expose the true costs of fossil fuels and facilitate the coming transition
More information********** An short and simple explanation of how oil is converted into gasoline and then brought to you, the consumer.
********** An short and simple explanation of how oil is converted into gasoline and then brought to you, the consumer. CEC-180-2008-008 July 2008 CONTENTS [St e p 1 ] SOURCES [Step 2] extraction **************
More informationPresentation on Results for FY 2015. Idemitsu Kosan Co.,Ltd. May 10, 2016
Presentation on Results for FY 2015 Idemitsu Kosan Co.,Ltd. May 10, 2016 Table of Contents 1. FY 2015 Financials (1) Overview (2) Segment Information 2. Forecast for FY 2016 Performance (1) Overview (2)
More information