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Posts tagged “assays”

By Robert Rapier on Sep 8, 2008 with no responses

Critiquing the SPR Swap Plan

This morning, I read an interesting editorial in the Wall Street Journal: Obama Has a Plan To Manage Our Oil Reserve The editorial was written by John Shages, a former deputy assistant secretary for petroleum reserves at the Department of Energy. The editorial essentially argues that the composition of the Strategic Petroleum Reserve (SPR) is lighter than the composition of oil that most refineries run. Since lighter crude is also more expensive than heavier crude, Shages is suggesting that we sell some of the light crude and buy back some of the heavy crude. His argument – echoing the argument from Obama and various other government officials – is that this would generate cash and help drive down oil prices…. Continue»

By Robert Rapier on Jan 11, 2007 with no responses

Refining 101: The Assay Essay

When a refinery purchases crude oil, the key piece of information they need to know about that crude, besides price, is what the crude oil assay looks like. There has been a lot of discussion at The Oil Drum at various times about “light sweet”, or “heavy sour”, and how these qualifiers affect the ability of a refiner to turn these crudes into products. So, I thought it would be good to devote an essay to this subject, and discuss how different types of crude can affect a refiner’s bottom line. Below are results from two different assays: Liquid Volume % Generic Light Sweet Generic Heavy Sour Gas (Initial Boiling Point to 99°F) 4.40 3.40 Straight Run (99 to 210°F)… Continue»