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Crude Oil
Petroleum has a specific gravity of 0.88 which means 1 liter weighs 0.88 kilograms. From the volume page we know that: 1 barrel [US, petroleum] = 158.9872972 liter So 1 barrel weighs: 158.9872972 * 0.88 = 139.908821536 kilograms 1 metric ton is 1000 kilograms: 139.908821536 / 1000 = 7.1475121 7.14 to 7.33 barrels of petroleum in a metric ton This is assuming that 0.88 is the correct specific gravity. If you know the exact specific gravity of the oil in question, you will get more accurate results.
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What Does One Barrel Of Crude Oil Make? One barrel of crude oil contains 42 gallons About 46% of each barrel of crude oil is refined into automobile gasoline In the US and Canada an average of 3 gallons of crude oil are consumed per person each day The US imports about 50% of its required crude oil and about 50% of that amount comes from OPEC countries
Product
Refined Gallons/Barrel
19.3 9.83 4.24 2.10 2.10 1.89 1.81 1.13 0.97 0.46 0.21 0.04 0.04 0.34 2.47
Gasoline Distillate Fuel Oil (Inc. Home Heating and Diesel Fuel) Kerosene Type Jet Fuel Residual Fuel Oil Petroleum Coke Liquified Refinery Gases Still Gas Asphalt and Road Oil Petrochemical Feed Supplies Lubricants Kerosene Waxes Aviation Fuel Other Products Processing Gain Source: EIA March 2004 Data
Definitions of Resources and Reserves Taken from Section 5 of Volume 1 of the Canadian Oil and Gas Evaluation Handbook, by the Society of Petroleum Evaluation Engineers (Calgary Chapter) and the Canadian Institute of Mining, Metallurgy and Petroleum (Petroleum Society), June 30, 2002. Crude Oil: A mixture, consisting mainly of pentanes and heavier hydrocarbons that exists in the liquid phase in reservoirs and remains liquid at atmospheric pressure and temperature. Crude oil may contain sulphur and other nonhydrocarbon compounds, but does not include liquids obtained from the processing of natural gas. Classes of crude oil are often reported on the basis of density, sometimes with different meanings. Acceptable ranges are as follows: Light: less than 870 kg/m3 (greater than 31.1o API) Medium: 870 to 920 kg/m3 (31.1o API to 22.3o API) Heavy: 920 to 1000 kg/m3 (22.3o API to 10o API) Extra-heavy: greater than 1000 kg/m3 (less than 10 API) Heavy or extra-heavy crude oils, as defined by the density ranges given, but with viscosities greater than 10 000 mPa.s measured at original temperature in the reservoir and atmospheric pressure, on a gas-free basis, would generally be classified as bitumen. Natural Gas: A mixture of lighter hydrocarbons that exist either in the gaseous phase or in solution in crude oil in reservoirs but are gaseous at atmospheric conditions. Natural gas may contain sulphur or other non-hydrocarbon compounds. Natural Gas Liquids: Those hydrocarbon components that can be recovered from natural gas as liquids including but not limited to, ethane, propane, butanes, pentanes plus, condensate and small quantities of nonhydrocarbons. Undiscovered Resources Undiscovered resources are defined as those quantities of oil and gas estimated on a given date to be contained in accumulations yet to be discovered. The estimated potentially recoverable portion of undiscovered resources is classified as prospective resources. Prospective resources are defined as those quantities of oil and gas estimated on a given date to be potentially recoverable from undiscovered accumulations. They are technically and economic to recover. Resources Categories Due to the high uncertainty in estimating resources, evaluations of these assets require some type of probabilistic method. Expected value concepts and decision tree analyses are routine; however, in high risk, high-reward projects, Monte Carlo simulation can be used. In any event, three success cases plus a failure case should be included in the evaluation of the resources.
MT 760 is blocking of funds and is essentially a guarantee that funds will be available when they are called upon. MT799 message is essentially a \"free format\" text message sent between banks and is treated much like a secure form of email. Be wary, however, of agreeing to transmit any language in an MT799 that relates to \"guaranteeing\" a payment or the \"blocking\". That is not the purpose of this type of message. PROPOSED TRADE PROCEDURES 1. Buyer sends ICPO with permission to soft probe + NDNC & IMPFA 2. Seller Sends FCO + banking details (Seller is allowed to do the soft probe of Funds after they the FCO) 3. Buyer signs FCO and return to seller 4. Seller send Draft contract to the Buyer for amendments. 5. Buyer sends the signed contract back to the seller 6. Seller sends the final signed copy of the contract to the buyer. 7. Both parties lodge the contract in their respective bank. 8. Seller Issue the Soft POP to buyer by mail. (If the Contract is for a SPOT then the SOFT POP MUST have the tank receipts. It is mandatory) 9. After verification of the Soft POP, Buyer will Issue Pre-advise MT 103 (if SPOT) or Preadvice RDCL or BG if contract. 10. Seller issue the Full POP and transfer of the ownership to the Buyer 11. Buyer releases the payment 12. Lifting Starts