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Due to the great surge in American production of oil, natural gas, and natural gas liquids since 2008, those products have been cheaper in the North American market than worldwide, giving American refiners a major cost advantage. [17] The discount on US crude is partially attributed to the long-standing federal ban on exports of American crude oil.
The Oil & Gas Journal publishes a worldwide list of refineries annually in a country-by-country tabulation that includes for each refinery: location, crude oil daily processing capacity, and the size of each process unit in the refinery. For some countries, the refinery list is further categorized state-by-state.
Map of wells drilled in federal waters, Gulf of Mexico; Christopher D. French and Christopher J. Schenk, (1997) Map Showing Geology, Oil and Gas Fields, and Geologic Provinces of the Gulf of Mexico Region Archived 2017-05-05 at the Wayback Machine, US Geological Survey, Open-File Report OFR 97-470-L, PDF file, downloaded 24 January 2010.
Employers added 143,000 jobs in January amid LA wildfires, cold weather and uncertainty over President Trump's trade and immigration policies.
Following Friday's jobs report, market pricing of the Fed holding interest rates steady through its May meeting moved up to a 67% chance, up from a 61% chance a week ago, per the CME FedWatch Tool.
Federal leases in green; areas proposed open for leasing 2007-2012 in grey (Minerals Management Service) From 1954 to 2023, federal offshore tracts produced 21.4 billion barrels (3.4 × 10 9 m 3) of oil and 195 trillion cubic feet (5.5 × 10 12 m 3) of natural gas.
Markets were rocked Friday after the December employment report came in much stronger than expected. The economy added 256,000 jobs in December, well above the average economist estimate of ...
Most oil is initially carried off the site by tanker truck. The truck may take the oil directly to a nearby refinery. In 2014, 2.6 percent of oil arrived at refineries by truck, up from 2.6 percent in 2005. If the refinery is not close, the tanker truck will take the crude oil to a pipeline, barge, or railroad for long-distance transport.