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crude oil ????

Old 08-15-2005, 10:10 PM
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Default crude oil ????

I here on the news the reporting on barrel prices. How many gallons to the barrel? Is it 55 gal like a drum? How much gas is refined from a barrel? Do they have any waste or is every drop used for something. Is crude from one part of the globe better than another part, and if so is it priced differently? Just wondering.
Old 08-16-2005, 03:50 AM
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Default Re: crude oil ????

Crude oil is sold in barrel units with 41 gallons to the barrel.

I'm not sure what the percentage is, but modern refining technology has gotten to the point where they can convert a large portion of the crude into gasoline. Just not sure of the exact percentage.

There is no waste. Every drop is used for something. I think the very last is used in asphalt.

There are several grades of crude from around the world. Brent Sweet, North Sea, etc., but Brent Sweet is the "benchmark" by which the worlds oil prices are set.

Hope this helps.
Old 08-16-2005, 09:12 AM
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Default Re: crude oil ????

As BoatP2Lee mentioned, the term barrel is just a unit of measurement by which oil is bought and sold. You can't really go out and buy a "barrel" at your local refinery if ya know what I mean. Those large supplies of oil are sent, measured in "barrels" via a vast network of pipelines throughout the country, at the ports and yes, offshore, where they are then distrubuted to the lower levels like gas stations and heating oil companies. Many places, like airports have the pipeline system running directly to the facility - i.e. no trucks needed for delivery, only for certain on the ramp refuelings..

It's a pretty amazing business - learned a lot from my father who spent 20 years in oil before moving into the NG arena and then electricity futures.
Old 08-16-2005, 12:03 PM
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Default Re: crude oil ????

At the refinery where I work, a barrel is considered 42 gallons. The products that are produced from the Crude are: gasoline, kerosine, diesel, gas oils (which are then further processed into gasoline, etc...), #6 fuel oil(used as fuel in large ships) and asphalt. The only waste that is generated by the process is sulfur. All of the gasoline, kerosine and diesel are treated to remove the sulfur per EPA guidelines. Some refiners also produce jet fuel, but my employer does not. Also, as Jim mentioned, there are process variables that are changed to increase/decrease the yield of different products withdrawn from the Crude. The current market is what usually dictates what changes will be made. For instance, in the summer, gasoline is the primary profit producer, so the gasoline yield is increased. In the winter, kerosine is more valuable b/c of its use as a home heating oil, so its yield is increased and the gasoline yield is decreased. Hope that helps a little.
Old 08-16-2005, 09:47 PM
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Default Re: crude oil ????

There was an interesting article in our local paper this morning with a diagram of a "barrel of oil".

Here's the "product breakdown" (in GALLONS) - based on a 42gal. barrel ...

7.3 - Other products
1.8 - Liquified petroleum
1.8 - Heavy fuel oils
4.0 - Jet fuel
10.0 - Diesel fuel & heating
19.7 - Gasoline

SOURCE: Dept. of Energy

Regards,
Old 08-17-2005, 04:12 AM
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Default Re: crude oil ????

And if you'll do the math, that totals 44.6 gallons..........
Old 08-17-2005, 06:58 AM
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Default Re: crude oil ????

BoatP2Lee - 8/17/2005 4:12 AM

And if you'll do the math, that totals 44.6 gallons..........
Well bruce said it was posted by the department of energy, these are the same people that said if you drive 55 mph you'll save 30% on gas usage ;?
Old 08-17-2005, 11:22 AM
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Default Re: crude oil ????

So gas and diesal ( based at 50% of Diesel fuel & heating ) @ $2.50 per gallon, more than pay for a barrel at $60.00. All the rest is gravy.
Old 08-17-2005, 02:20 PM
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Default Re: crude oil ????

It's my understanding that gl for gl diesel yields less than gas per gl of oil, that's why diesel, which requires less processing, is almost the same price, sometimes more, than gas. Is this true?
Old 08-17-2005, 09:19 PM
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Default Re: crude oil ????

BoatP2Lee - 8/17/2005 4:12 AM

And if you'll do the math, that totals 44.6 gallons..........
44.6 gallons vs. 42 gallons. No wonder 11 out of 9 people have trouble with fractions.
Old 08-18-2005, 08:57 AM
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Default Re: crude oil ????

racencase - 8/17/2005 12:22 PM

So gas and diesal ( based at 50% of Diesel fuel & heating ) @ $2.50 per gallon, more than pay for a barrel at $60.00. All the rest is gravy.

That would be true, If the refinery was actually pocketing the retail price, including Taxes, for every gallon.


If anyone thinks Oil companies are making a killing, Invest in them and share the loot.
It is yours for the taking.

Companies consist of stockholders. When a company makes a bundle, rejoice, it means that stockholders just made money.

Profit is not all bad.



I wonder if I filled my tank from one of those refineries that processes the 44 gallon DOE barrels, would I get better mileage?
Old 08-18-2005, 09:07 AM
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Default Re: crude oil ????

Since we have some Industry people here.

Can you explain the price relationship of Gas to Diesel?

In the past, it seemed like diesel was always significantly cheaper than gasoline. Like 30-40% cheaper. I never used diesel, so I could be a little off on the percentage, but I do recall that it was cheaper.

Why is diesel today priced as much, or even more than Gasoline?



Old 08-18-2005, 09:18 AM
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Default Re: crude oil ????

More diesel engine vehicles out there on the road --means more $$$$ in their pockets.
Old 08-18-2005, 02:18 PM
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Default Re: crude oil ????

Supply versus Demand
Old 08-18-2005, 08:29 PM
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Default Re: crude oil ????

BoatP2Lee - 8/17/2005 5:12 AM

And if you'll do the math, that totals 44.6 gallons..........
I went back and looked at the pic from the paper - the figures I posted were correct, but there was a "NOTE" at the bottom of the diagram ...

"42 U.S. gallons of crude oil yields slightly more than 44 gallons of petroleum products. This "process gain" in volume is due to a reduction in density during the refining process."

Sorry for the "misinformation" - I don't always "check my math" (or the paper's!)! ;?

Regards,
Old 08-21-2005, 06:47 PM
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Default Re: crude oil ????

Well our gas prices are now over a dollar per litre - $1.03.9 (for regular gas), which means approx. $4.50 per Imperial gallon.

Now for the SUPPPPPER KICKER, I've just heard that we "Canadains" should expect to be paying over $2.00 per litre (for regular gas) by the end of the year. WHAT THE *#%@ IS GOING ON?????????????

All I can say is, sure glad the war over seas was about getting oil...........I can't imagine what the cost of oil would have been. ;?

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