What does refining oil mean

Along with an expansion in capacity, refiners developed new methods to increase yields of gasoline and other motor fuels. Today, refiners produce a wide range of fuels and specialty oils used in transportation, industry, electricity generation, heating, and petrochemical production, and in thousands of other uses. These modern facilities, which cost billions of dollars to build and can incur billions of dollars in annual operating costs, employ a variety of technologies to squeeze the most out of a barrel of crude oil and to provide the flexibility required to meet shifting seasonal product demand patterns.

The rapidly growing emerging economies are rapidly adopting the best of western refining technologies to meet growing demand for transportation fuels. This website uses cookies to provide you with a great user experience.

What is Refining? Refining — Overview Upon completing the Refining course, participants will be able to: Identify the key characteristics of crude oil and petroleum products Demonstrate comprehension of the key refinery processes used to convert crude oil to useful products Recognize how refiners can alter the operation of a refinery Describe the major business processes used by refiners to manage the refinery Explain the key business drivers that impact refining profitability Define how refineries are impacted by environmental regulations List the major global refining industry trends The history of refining innovation is really driven by the evolution of product demand.

This growth forced global refiners to expand. Refining Operations Today, refiners produce a wide range of fuels and specialty oils used in transportation, electricity generation, industrial processing, home heating, petrochemical production, and thousands of other uses.

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Oil refineries can be dangerous places to work at times. For example, in there was an accident at BP's Texas City oil refinery. Chemical Safety Board, a series of explosions occurred during the restarting of a hydrocarbon isomerization unit. Fifteen workers were killed and others were injured. The explosions occurred when a distillation tower flooded with hydrocarbons and was over-pressurized, causing a geyser-like release from the vent stack.

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Popular Courses. Oil Guide to Investing in Oil Markets. Commodities Oil. What Is an Oil Refinery? Key Takeaways An oil refinery is a facility that takes crude oil and distills it into various useful petroleum products such as gasoline, kerosene or jet fuel. Refining is classified as a downstream operation of the oil and gas industry, although many integrated oil companies will operate both extraction and refining services.

Refineries and oil traders look to the crack spread — the relative difference in production cost and market price — of various petroleum products in the derivatives market to hedge their exposure to crude oil prices. Article Sources. Hidden Behavior of Supercapacitor Materials Nov. Now this It consists, in principle, only of sand, gravel, Minimizing the measurement effects preserves coherence across engine cycles and improves the power output and Print Email Share. Most Popular Stories.

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