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The three most quoted oil products are North America's West Texas Intermediate crude (WTI), North Sea Brent Crude, and the UAE Dubai Crude, and their pricing is used as a barometer for the entire petroleum industry, although, in total, there are 46 key oil exporting countries. Brent Crude is typically priced at about $2 over the WTI Spot price ...
Sun Oil diversified quickly and became active in the production and distribution of oil as well as processing and marketing refined products. By 1901, the company was incorporated in New Jersey as Sun Company, Inc. In 1902, the Sun Oil Refining Company was chartered in Texas, as it turned its interest to the new Spindletop field in Texas.
Petroleum products are materials derived from crude oil as it is processed in oil refineries. Unlike petrochemicals, which are a collection of well-defined usually pure organic compounds, petroleum products are complex mixtures. [1] Most petroleum is converted into petroleum products, which include several classes of fuels. [2]
Location of United States petroleum refineries, 2012. The United States petroleum refining industry, the world's largest, is most heavily concentrated along the Gulf Coast of Texas and Louisiana. In 2012, US refiners produced 18.5 million barrels per day of refined petroleum products. [18] Of this amount, 15 percent was exported. [19]
Petroleum in Texas — oil and gas resources, extraction, production, distribution, and environmental issues in the state. Subcategories This category has the following 6 subcategories, out of 6 total.
America’s Strategic Petroleum Reserve is a collection of underground salt caverns in Texas and Louisiana that can hold more than 700 million barrels of oil, although it is not currently full.
Texas Company Building at 1111 Rusk St. in Houston. The company moved to larger facilities in 1989 "The Texas Company" Galveston station, c. 1910-20. Texaco was founded in Beaumont, Texas as the "Texas Fuel Company" in 1902, [6] by Jim Hogg, Joseph S. Cullinan, John Warne Gates, and Arnold Schlaet.
By 1965 Pennzoil marketed its petroleum products worldwide. [1] In 1968, United Gas Corporation was purchased by Pennzoil, [3] through a leveraged buyout, which was necessary because Pennzoil did not have enough assets to buy United outright. During the 1970s, the company moved its offices to the Pennzoil Place in Downtown Houston, Texas. [4]