The quality of their
crudes plays a large part in determining destination.
Muscat: Oman's
crude oil and condensate production for February 2018 reached 27,075,580 barrels, with a daily average of 966,985 barrels, according to the monthly report issued by the Ministry of Oil and Gas.
"Enabling the Ruwais Refinery-West to process Upper Zakum, or similar, medium sour
crude, in place of Murban light sweet
crude, will allow us to extract greater value from our
crude resources.
SA's decision primarily reflected widening discontent from customers who wanted a new marker more accurately responding to true supply and demand in physical
crudes. ExxonMobil and Valero have been among the biggest US buyers of Saudi
crudes.
Will this trend continue and will the cartel flood the market with
crude as they did back in the fourth quarter of 2016 (4Q16)?
The Oman contract is ideal to be used for the pricing of other
crudes being produced in the Gulf region and other parts of the GME.
GE's new
crude stabilisers help refineries more effectively anticipate and respond to processing issues associated with opportunity
crudes and their incompatibility.
Meanwhile, prices of the
crude oil on the international markets have not been stable, while the Brent
crude fell.
THE price gap of the Indian basket of
crude oil imports, which comprises close to 70 per cent of high sulphur, has come down to less than $ 2 per a barrel compared with high- quality Brent
crude.
This rise in supply, coupled with insufficient midstream infrastructure to transport
crude oil to the Gulf Coast, has depressed the price of WTI, UHC and other land-locked grades of light/sweet
crudes relative to similar quality volumes delivered to coastal refineries.
Urals is typically sold at discounts to Brent, because it contains about 1.3 percent of sulphur with API gravity of about 32, making it heavier and more sour than the
crudes that go into setting the North Sea benchmark.
This table compares products that can be produced from one of the world's best sweet
crude oils, Nigerian Bonny Light, with product yields for Arab Heavy, one of the most widely available heavy
crudes.
TOKYO: State-run Japan Oil, Gas and Metals National Corp (JOGMEC) bought Saudi Arab Extra Light
crude for Japan's national reserves from Showa Shell Sekiyu via a tender, industry sources said on Wednesday.
The
crude stored at this facility is light and sweet -- meaning it has lower sulphur content and is highly suitable for refining into gasoline -- while Saudi Arabia exports mostly medium-sour
crudes into the United States.
