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"Excess" US Refinery Products Need To Be Exported

General discussions of the systemic, societal and civilisational effects of depletion.

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Re: "Excess" US Refinery Products Need To Be Exported

Unread postby Cog » Sat 06 May 2017, 06:29:23

Is condensate also known as drip gas? My father worked in an oil production field and said he and the other oil field workers would fill their gas tanks with what they called drip gas. I asked him if this was hard on the car and he replied "Only on the tires"

Was he pulling my leg or was there an actual product that came up with oil production that you could put directly into a gasoline tank? This was during the 1960's and 1970's when natural gas was flared(not enough to collect) and the oil fields weren't exactly environmentally friendly.
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Re: "Excess" US Refinery Products Need To Be Exported

Unread postby ROCKMAN » Sat 06 May 2017, 11:10:23

Cog - Drip gas, so named because it can be drawn off the bottom of small chambers (called drips) sometimes installed in pipelines from gas wells, is another name for natural-gas condensate, a naturally occurring form of gasoline obtained as a byproduct of natural gas extraction.

Some condensate can be nearly all gasoline chains.
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Re: "Excess" US Refinery Products Need To Be Exported

Unread postby Synapsid » Sat 06 May 2017, 15:58:45

ROCKMAN, rockdoc, somebody,

Vitol is called the world's largest oil trader here.

I think I recall that BP and Royal Dutch Shell have oil-trading arms. They are admittedly not the main business but how do the volumes they trade compare to Vitol's?
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Re: "Excess" US Refinery Products Need To Be Exported

Unread postby ROCKMAN » Sat 06 May 2017, 16:49:08

Syn - Also as I've mentioned before: much of the world's oil production is not directly sold from the producers to the refineries. In that sense there's a bit of apple vs orange angle by comparing Vitol to any company that is principally an oil exploration and production company. From Vitol:

"In 2016, we sold over169 million tonnes of crude oil. We trade or ship around 3 million barrels of crude oil every day. Our crude trading business has long-standing relationships with producers and refiners in every part of the world. We help the former to effectively market and distribute their daily production, and the latter to secure a reliable and consistent supply of the right quality crude at the right time.

We are transacting in over 100 different grades of crude oil in locations spread around the globe. We are active in all major centres where crude is produced, refined and traded, enabling our customers to benefit from critical intelligence and access to the most appropriate market. As a physical trader, we can deliver crude anywhere our customers require. We are one of the world’s largest spot charterers of crude vessels and have a dedicated fleet of crude vessels of various sizes as well as access to storage on land around the world.

Our market-leading team combines specialist knowledge with global expertise. Over many years we have established long-term relationships with national oil companies, oil majors and independent producers. We use our expertise in managing transportation via pipeline, barge, train, truck and all sizes of vessel to efficiently and reliably transport crude to refiners worldwide. When appropriate, our traders work alongside our finance and E&P teams to develop commercial structures which allow us to finance producers’ operations in return for offtake.

Working with refiners - Today, we supply over 3.4 million barrels per day of crude oil and feedstocks to the refining industry globally.

{By comparison BP and RDS market a bit more daily. But understand some of the oil both companies sell is probably marketed again by Vitol. So while all three sell oil Vitol is a completely different business model: it is an oil trader...not a producer. And a critical aspect is Vitol blending various oils to meet the refineries' requirements}

"We take the time to understand the specific requirements and preferences of refiners worldwide and have a long track record of consistently and reliably sourcing the right feedstock to meet our customers’ needs at the right time. We currently have an ownership stake in five refineries across three continents with a total refining capacity of 390,000 barrels per day."
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Re: "Excess" US Refinery Products Need To Be Exported

Unread postby Tanada » Sat 02 Sep 2017, 20:37:59

Not a lot of excess this week, but I have no doubt we will soon be just as flush as we were. Face it folks, until we hit real world peak and face real shortfall in world oil production things will continue more or less on the path they have been following.
I should be able to change a diaper, plan an invasion, butcher a hog, design a building, write, balance accounts, build a wall, comfort the dying, take orders, give orders, cooperate, act alone, solve equations, pitch manure, program a computer, cook, fight efficiently, die gallantly. Specialization is for insects.
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Re: "Excess" US Refinery Products Need To Be Exported

Unread postby kublikhan » Sun 03 Sep 2017, 14:41:39

The United States is the world's largest net exporter of refined petroleum products, shipping around 5.05 million barrels of fuel per day. Latin America received almost half of that, or 2.5 million barrels per day (bpd). Most of it loads from the U.S. Gulf Coast. Almost no fuel tankers have sailed from Texas for Latin America in six days. Terminals and refineries shut by the storm are unlikely to fully recover for weeks.

On Tuesday, a trading firm with two cargoes of diesel waiting to discharge in the port of Curacao notified Venezuela's state-run oil company PDVSA it plans to suspend its delivery contract and divert the shipments to Ecuador. Mexico, Brazil, Colombia and other countries also want to tap some of the about 7 million barrels of fuel sitting in the Caribbean sea, according to three traders and shippers. Some of the two dozen tankers sitting offshore have been waiting for weeks to discharge, either because cash-strapped PDVSA has been slow to pay for fuels or because of bottlenecks at ports.

"Refiners are waiting for (U.S.) ports to reopen to start shipping what they have in storage, but some companies are desperate." Mexico, which normally imports two gasoline cargoes per day, is among the countries looking to buy the fuels, the trading sources said. If trading firms that control the tankers "offer to divert a cargo from Venezuela, they (Mexico) are going to take it."

DESPERATE FOR FUEL
U.S. refineries with capacity to produce 4.4 million bpd have shut. That is nearly 4.5 percent of total global fuel supply. Diverting the cargoes from Venezuela could bring big profits to traders as diesel and gasoline prices are rising fast due to the U.S. supply disruptions.
Latin America looks to Venezuelan fuel cargoes as Harvey swamps U.S.
The oil barrel is half-full.
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