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Started By
Message
re: U.S. seeks to loan about 92.5 million barrels from Strategic Petroleum Reserve
Posted on 5/3/26 at 7:30 pm to CitizenK
Posted on 5/3/26 at 7:30 pm to CitizenK
quote:
It's not a matter of sour or sweet but fractions. Garyville is configured for heavy/very heavy crude but Mars, an intermediate, has high residuals fraction so the refinery loves it.
And? Depends on what you are pulling and how much. US refiners didnt take the SPR bait and won't take it again this time. Mars prices itsrlf.out to go to Europe. The drillers will be back eventually. Europe and Asia are hurting. Us refiners are in the car bird seat.
1
Posted on 5/3/26 at 7:58 pm to fightin tigers
quote:
And? Depends on what you are pulling and how much. US refiners didnt take the SPR bait and won't take it again this time. Mars prices itsrlf.out to go to Europe. The drillers will be back eventually. Europe and Asia are hurting. Us refiners are in the car bird seat.
US refiners have had minimal supply disruption. None of them need any of the SPR release. Marathon is still getting its share of Mars. I spoke with supply chain in Findlay the end of last week. My guess is that they have a long term contract and thus get a discount to what is posted. My previous contact with them at corporate was transferred to head the operations of the two new Y grade ethane NGL's frac plants being built at Texas City and the pipeline from NM/WT
Posted on 5/3/26 at 8:03 pm to LemmyLives
quote:
Sure would have been nice if congress had authorized refilling it after oil crashed in 2020.
That would mean spending tax payer $s on a strategic asset. We can't get those arse holes to pass the save act which is free.
Posted on 5/3/26 at 8:05 pm to CitizenK
Supply interruption and what is profitable are different realms.
Also what is profitable vs most profitable is different.
Also what is profitable vs most profitable is different.
Posted on 5/3/26 at 8:13 pm to ragincajun03
This sux...
Posted on 5/3/26 at 8:38 pm to Bard
Ask Warren Buffet
Posted on 5/3/26 at 9:28 pm to fightin tigers
quote:
Also what is profitable vs most profitable is different.
Midstream and trading is where companies with refineries make profit. Refineries barely make a profit on years that they do profit. The lowest margin of profit is usually gasoline. Take Placid in Port Allen, it loses money on as many years as it makes money. It was built for Hunt to have an outlet for their production of Louisiana Light Sweet. Same for Alon in Krotz Springs it and now Vertex in Saraland, AL, were built as outlets for production of Louisiana Land and Exploration, Shell CHEMICAL bought Saraland to have naphtha for its Norco ethylene cracker, It bought Enjet at St. Rose for the same reason along with Sun in Yabucoa, PR. It did make good money on Saraland with the contango 15+ years ago using rail to ship Bakken to Pace, FL and the short pipeline to Saraland. The saved about $10 per barrel vs. PADD 3 refineries in transportation cost. Houston refiners were trucking from Cushing due pipeline flow was all to inland then. Bakken is similar to Louisiana Light except a little gassy, enough to vapor lock pump at full capacity. Just like Brent did to tanker cargo pumps in the 80's
Posted on 5/3/26 at 9:31 pm to CitizenK
No idea what gibberish you just spewed has to do with the price of tea in China.
Posted on 5/3/26 at 10:05 pm to fightin tigers
quote:
No idea what gibberish you just spewed has to do with the price of tea in China.
It has everything to do with refining and which crude oil is used. Refineries don't survive unless crude cocktail used makes the profitable products. Naphtha to feed an ethylene cracker USED to be one way. Gasoline, diesel and jet fuel were side shows for Shell Chemical's 3 refineries.
A few refineries are getting Unita crude from Utah via rail because it is great for making base oil, which is used to make lubricants. Calumet in Shreveport is one. Exxon Baytown and Beaumont are two others. it cannot be pipelined because high paraffin wax content plugs up a line in a month even when cut with condensate It is considered light crude.
Posted on 5/3/26 at 10:09 pm to CitizenK
Unita pour point is over 100F. No one is putting it in the "light crude" category like WTI, bakken or LLS.
Unita and Black/yellow wax are better related. And no one is running that without a lor of prerequisites.
Unita and Black/yellow wax are better related. And no one is running that without a lor of prerequisites.
This post was edited on 5/3/26 at 10:11 pm
Posted on 5/3/26 at 10:12 pm to ragincajun03
Posted on 5/3/26 at 10:15 pm to MorbidTheClown
quote:
How do you “loan” oil?
The same way you loan money. What’s wrong with you?
Posted on 5/3/26 at 10:48 pm to ragincajun03
So we are “loaning” the oil when it is at a relatively high price and we will be repaid when the price is lower?
Doesn’t sound at all like something Trump would do. Something fricky about this deal….
Doesn’t sound at all like something Trump would do. Something fricky about this deal….
Posted on 5/3/26 at 10:53 pm to Ponchy Tiger
So.. how much oil is left I the earth?? A trillion barrels????
Posted on 5/3/26 at 11:06 pm to ragincajun03
After Deepwater Horizon, how much oil can we go harvest/fish out from the gulf?
Posted on 5/4/26 at 8:33 am to ragincajun03
A bad idea all the way around !
Posted on 5/4/26 at 10:00 am to armytiger96
quote:
All caverns or just one location?
Probably all. The SPR was designed to fill slowly and empty rapidly. The purpose of the SPR was to borrow from normal times and lend to emergency times. Emergency times are obviously shorter than normal times.
Posted on 5/4/26 at 10:04 am to GeorgeTheGreek
quote:
After Deepwater Horizon, how much oil can we go harvest/fish out from the gulf?
Several Gulf Oil and Gas projects have been built in the years after Deepwater Horizon
If you're talking about trying to fish out oil from a spill that was over 15 years old...I'm not sure what you're expecting to find.
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