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During bitumen's early use in modern paving, oil refiners gave it away. However, bitumen is a highly traded commodity today. Its prices increased substantially in the early 21st Century. A U.S. government report states: "In 2002, asphalt sold for approximately $160 per ton.
Western Canadian Select (WCS) is a heavy sour blend of crude oil [1] that is one of North America's largest heavy crude oil streams [2] and, historically, its cheapest. [3] It was established in December 2004 as a new heavy oil stream by EnCana (now Cenovus), Canadian Natural Resources, Petro-Canada (now Suncor) and Talisman Energy (now Repsol Oil & Gas Canada). [4]
Ignoring such constraints, and also assuming that the price of oil recovers from its collapse in late 2014, the list of currently proposed projects, many of which are in the early planning stages, would suggest that by 2035 Canadian bitumen production could potentially reach as much as 1.3 million m 3 /d (8.3 million barrels per day) if most ...
Nynas AB is a Swedish manufacturer of specialty naphthenic oils and bitumen products. [1] [2] Founded in 1928 as a national oil company with a traditional range of products, the company today supplies specialist products and niche markets. [3] In addition to national sales offices, Nynas also has access to an international distribution network.
Railbit is a common blend of bitumen and diluent used for rail transport. Railbit which contains approximately 17% diluents or less. [1] [2] [Notes 1] [3] compared to 30% [2] in dilbit.
Natural bitumen pitch, from the tar pit above the McKittrick Oil Field, Kern County, California. Pitch is a viscoelastic polymer which can be natural or manufactured, derived from petroleum, coal tar, [1] or plants. Pitch produced from petroleum may be called bitumen or asphalt, while plant-derived pitch, a resin, is known as rosin in its solid ...
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The Alberta government's Energy and Utilities Board (EUB) estimated in 2007 that about 173 billion barrels (27.5 × 10 ^ 9 m 3) of crude bitumen were economically recoverable from the three Alberta oil sands areas based on then-current technology and price projections from the 2006 market prices of $62 per barrel for benchmark West Texas ...