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Synthetic crude is the output from a bitumen/extra heavy oil upgrader facility used in connection with oil sand production. It may also refer to shale oil , an output from an oil shale pyrolysis . The properties of the synthetic crude depend on the processes used in the upgrading.
Diluted bitumen (diluted with naphtha to make it flow in pipelines) is known as "dilbit" in the Canadian petroleum industry, while bitumen "upgraded" to synthetic crude oil is known as "syncrude", and syncrude blended with bitumen is called "synbit".
The production of bitumen and synthetic crude oil emits more greenhouse gases than the production of conventional crude oil. A 2009 study by the consulting firm IHS CERA estimated that production from Canada's oil sands emits "about 5% to 15% more carbon dioxide, over the "well-to-wheels" (WTW) lifetime analysis of the fuel, than average crude ...
An upgrader is a facility that upgrades bitumen (extra heavy oil) into synthetic crude oil. Upgrader plants are typically located close to oil sands production, for example, the Athabasca oil sands in Alberta, Canada or the Orinoco tar sands in Venezuela.
Synthetic crude may also be created by upgrading bitumen (a tar like substance found in oil sands), or synthesizing liquid hydrocarbons from oil shale. There are a number of processes extracting shale oil (synthetic crude oil) from oil shale by pyrolysis, hydrogenation, or thermal dissolution. [14] [43]
Dow Jones-UBS Commodity IndexSM Fact Sheet Individual Commodity Subindex Weightings Commodity Weight (%) Crude Oil 16.00% Natural Gas 10.23% Gold 10.04%
All three of these mines are associated with bitumen upgraders that convert the unusable bitumen into synthetic crude oil for shipment to refineries in Canada and the United States. For Albian, the upgrader is at Scotford, 439 km south. The bitumen, diluted with a solvent, is transferred there in a 610 mm (24 in) corridor pipeline.
Another factor is the time of year. Gas prices are typically near a low for the year in February due to weak demand. If the tariffs stay in place through summer, the impact will be greater, he said.