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re: EIA: US Crude Exports Reached Record High 1st Half 2023
Posted on 10/11/23 at 8:34 am to Corinthians420
Posted on 10/11/23 at 8:34 am to Corinthians420
quote:
Thank you for the insight
The refinery I am in discussions with was shutdown due declining light sweet crude fields nearby. The tight shale crude now in the region is very light and decreases refinery throughput by over 35%. Over 25% reduction means bankruptcy of the refinery.
I had a deal to buy a refinery in OK in 2011 which had to shutter when the local crude sources went from around 40 API gravity to 60 API gravity. Throughput capacity declined by 30%. I had a deal to sell to Libya, via a Maltese trading company owned by a Tunisian, for a 15,000 BPD refinery for a 40 API low sulfur crude near the Tunisian border. Daffy Duck was overthrown, and what turned into 200+ Blood and Crips made any investment there quite stupid if achievable at all.
In addition, a major pipeline nearby switched from WTI crude to Canadian heavy crude going from Cushing to Borger after Phillips66 in Borger reconfigured to dilbit (a blend of WCS, West Canada Sour, and diluent, which is usually naphtha, unfinished diesel, or Eagle Ford crude) FWIW, Eagle Ford crude was shipped from Corpus to LOOP then pipelined up Capline to near Chicago then pipelined to Canada by Enbridge to use to blend with Canadian very heavy produced crude, 10-12 API gravity (or like tar) to make the very heavy crude flow down pipelines. The produced crude in Canada is from drilling horizontal wells for steam to be put into the formation and flow very heavy crude out of the formation via another well.
Look, I don't expect very many on this entire website to understand shiite from shinola about crude oil and refining, but they throw a lot of shiite in these discussion because they don't know shiite from shinola about it. Some might be from the oil patch, some might be from refining, but there is a bigger picture than what they see.
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