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Per the "Regions and crude types" discussion above, California production is categorized by its own crude type. Sweet crude oil contains small amounts of hydrogen sulfide and carbon dioxide. High-quality, low-sulfur crude oil is commonly used for processing into gasoline and is in high demand, particularly in industrialized nations.
The discount on US crude is partially attributed to the long-standing federal ban on exports of American crude oil. [20] European Union refiners have been hard-hit by the growth in US exports. They lost much of their previous gasoline exports to the US, and also market share in the worldwide market to the newly competitive US refineries.
As the Financial Times wrote last year, the crude oil trade is "in throes of an historic shift." U.S. Gulf Coast refiners, which had relied on imports of light sweet crude oil from OPEC nations ...
Petroleum refinery in Anacortes, Washington, United States. Petroleum refining processes are the chemical engineering processes and other facilities used in petroleum refineries (also referred to as oil refineries) to transform crude oil into useful products such as liquefied petroleum gas (LPG), gasoline or petrol, kerosene, jet fuel, diesel oil and fuel oils.
Brent Crude, a classification of light sweet crude oil coming from the North Sea region, is due to replace West Texas Intermediate, also known as WTI or Texas light sweet, as the standard in ...
The refinery eventually will process U.S. shale oil from fields in West and South Texas, Calce said in an interview. In comparison, U.S. Gulf Coast refineries largely process medium to heavy crude.
The clear cut definition of light and heavy crude varies because the classification is based more on practical grounds than theoretical. The New York Mercantile Exchange (NYMEX) defines light crude oil for domestic U.S. oil as having an API gravity between 37° API (840 kg/m 3) and 42° API (816 kg/m 3), while it defines light crude oil for non-U.S. oil as being between 32° API (865 kg/m 3 ...
In May 2023, Cushing was selected as the site for a $5.56 billion crude oil refinery for processing 250,000 barrels per day of light and sweet crudes into low-carbon transportation fuels. [31] The next-generation refinery, built with a goal of zero-carbon footprint operation, should be operational in 2027. [31]