Changing Crude Qualities and Their Impacts on U.S. Refinery Operations AM-14-42
|
|
- Matilda Francine Alexander
- 5 years ago
- Views:
Transcription
1 Changing Crude Qualities and Their Impacts on U.S. Refinery Operations Presented to: AFPM 2014 Annual Meeting March 25, 2014 by John M. Mayes
2 International consulting practice since 1971 Downstream focus; refinery/chemical engineers Industry and financial clients Strategic Studies FMV Assessments & Venture Analyses National Policy Studies TM&C Overview Publish various outlook and multi-client subscription reports World Crude Outlooks North American Crude & Condensate Outlook Crude and Refined Products Outlook Refinery Construction Outlook Special Studies 2
3 Today s Agenda North American Crude and Condensate Outlook Shale Crude Development Field Constraints Geographic Constraints Refining Bottlenecks Export Issues Final Thoughts 3
4 North American Crude & Condensate Outlook Regional forecasts in new TO and conventional areas Evaluation of refinery capabilities on a plant-by-plant basis Analysis of planned/required logistics Evaluate challenges and opportunities for producers, midstream companies and refiners Forecast pricing implications Initial publications June & October NACCO released in June 2014 edition to be released in September 4
5 Projected Production Volumes by 2022 U.S. Low Case 9.5 MMBPD High Case 12.0 MMBPD Canada 5.5 MMBPD Forecast Assumptions Absolute crude prices (Brent) remain in $80 to $120 range Key limitations (manpower, materials, regulatory, financial, etc.) Build out of crude transportation assets is critical Limited production from some high potential prospects High case requires significant crude exports 5
6 Crude Production Increases U.S to December ,200 1,000 Thousand BPD Eagle Ford Bakken Permian Basin Other Texas Other U.S. Oklahoma /Kansas Gulf of Mexico California Alaska Source: EIA 6
7 U.S. Crude Supply/Demand Million BPD Low High Refinery Runs 7
8 U.S. Crude Production Change by PADD 2013 to MBPD PADD I PADD II PADD III PADD IV PADD V Low High 8
9 Change in Crude Production by Grade 2013 to 2022 MBPD Condensate/ Light Sweet Light Sour Medium Heavy US Low US High Canada 9
10 Changing U.S. Crude Oil Sources Million BPD % 15% 25% 25% 54% 53% 41% 16% 10% 13% 66% 60% 36% 34% 43% High Low Forecast Domestic Canada Waterborne 10
11 Today s Agenda North American Crude and Condensate Outlook Shale Crude Development Field Constraints Geographic Constraints Refining Bottlenecks Export Issues Final Thoughts 11
12 Shale Crude Development The development of shale crudes has been characterized by a series of logistic and processing bottlenecks. Fields Geographic Refining Exports? Shale crude prices have been impacted whenever bottlenecks have been hit which in turn created the solution. 12
13 Shale Crude Development (cont.) Multiple supply modes have been utilized to relieve field bottlenecks. Bakken o Pipeline o Rail Eagle Ford o Pipeline o Vessel Permian Basin o Pipeline o Rail Athabasca o Pipeline o Rail 13
14 Shale Crude Development (cont.) U.S. pipeline system was constrained at Cushing, OK until Seaway Phase I 150 MBPD May 2012 Seaway Phase II 250 MBPD Jan Keystone 700 MBPD Dec Seaway Phase III 450 MBPD 2014 The Houston bottleneck was reduced in Dec with startup of Shell Ho-Ho pipeline (300 MBPD to St. James, LA). 14
15 Today s Agenda North American Crude and Condensate Outlook Shale Crude Development Field Constraints Geographic Constraints Refining Bottlenecks Export Issues Final Thoughts 15
16 Transition to Refining Bottleneck Interim period U.S. refining industry can generally absorb incremental light shale production when backing out light foreign imports. When foreign light imports have been eliminated, incremental shale production will replace foreign medium grades. The U.S. refining industry is not currently configured to process this volume of light crude. 16
17 PADD II Foreign Light Imports 250, ,000 BPD 150, ,000 50,000 0 Jan 2009 Jan 2010 Jan 2011 Jan 2012 Jan
18 PADD III Foreign Light Sweet Imports 1,600,000 1,400,000 1,200,000 BPD 1,000, , , , ,000 0 Jan 2009 Jan 2010 Jan 2011 Jan 2012 Jan
19 PADD I Foreign Light Imports 800, , ,000 BPD 500, , , ,000 Jan 2011 Jan 2012 Jan
20 PADD III Foreign Light Sour Imports 1,200,000 1,100,000 1,000, ,000 BPD 800, , , , ,000 Jan 2011 Jan 2012 Jan
21 Shale Development Timeline 2014 Light sweet imports into PADDS I-III will be eliminated 2015 Light sour imports down to structural minimums 2015/16+ Crude exports to begin? Medium imports down to structural minimums based on Saudi crude strategy 21
22 Shale Crude vs Displaced Light Imports Property Bakken Eagle Ford Eagle Ford Cond. Brent Bonny Light API Gravity Sulfur, wt% Distillation Yield, volume % Lt. Ends, C 1 -C Naphtha Middle Distillates Gas Oil Vacuum Residue
23 Announced Major Refinery Upgrades Upgrade Cost Refinery Millions Crude Valero Houston Eagle Ford Flint Hills Corpus Christi 250 Eagle Ford Marathon Catlettsburg 145 Utica 23
24 Quality of U.S. Crude Oil Production API Gravity Low Cases Sulfur, wt. % API Gravity Sulfur, wt. % 24
25 API Gravity of U.S. Refinery Crude Slate High Crude Forecast API Gravity Low Crude Forecast API Gravity 25
26 Refinery Yield Impacts Dumbbelling of Crude Slate Higher LPG and naphtha Lower middle distillate Resid yields up in Canadian heavy crudes; still generally lower than in Latin heavy Implications Higher LPG yield adds to surplus from field production Higher naphtha/lower distillate yields runs counter to demand growth patterns Will lead to increasing exports of LPG s/gasoline; decreasing ability to export diesel Light naphtha surplus a particular issue some can be used as diluent for Can. bitumen Remedies Construction of hydrocracking units very capital intensive Development of LPG/NGL, light naphtha and gasoline export markets Export of particularly problematic crudes export limitations; condensate splitting Incentivize high distillate yielding GTL projects 26
27 Today s Agenda North American Crude and Condensate Outlook Shale Crude Development Field Constraints Geographic Constraints Refining Bottlenecks Export Issues Final Thoughts 27
28 U.S. Crude Oil Exports Thousand BPD 1,800 1,600 1,400 1,200 1, History High Production Case with exports Canada Other 28
29 Crude Exports By 2022, N.A. crude production vs. refinery runs will be close to balanced (~18.0 vs MM BPD) if crude exports are allowed. Crude exports of ~2.0 MM BPD: Necessary to balance against structural imports from PDVSA, Pemex, S.A. etc. Mostly from Eagle Ford, Permian and ANS Canadian will export from both coasts (dependent on midstream expansion) Crude access/logistics will continue to be key margin determinant Export policy decisions critical 29
30 Today s Agenda North American Crude and Condensate Outlook Shale Crude Development Field Constraints Geographic Constraints Refining Bottlenecks Export Issues Final Thoughts 30
31 Final Thoughts NA Boom in Crude Production Significant game changer with international implications Well decline rates in some tight oil formations are 80%+ but production growth will continue for several years before reaching a plateau Permian has the most long-term potential Ability to export crude will be key to continued growth Implications for U.S. Refining Sector Less expensive crude Lower natural gas cost Adds to existing advantages higher complexity, developed infrastructure, more flexible work force to make U.S. refineries the most competitive in the world Facilitates Ability to Export Products Requirement due to Declining Domestic Demand U.S. transitions from big net importer to large net exporter Sustainable trend; increased competitiveness of U.S., growing demand in developing countries; lack of success in building/running refineries 31
32 Final Thoughts (Cont.) U.S. Crude Boom Also Presents Challenges Will require downstream capex along with investment outside refinery gates Major impact on refinery yields/product balances more gasoline/less diesel Particularly long on light naphtha/condensate Quality of new production (mostly shale) major unknown Threats to Product Export Model Growing dependence on volatile markets in Latin America and elsewhere Dependent on continuing difficulty of countries to supply own demand Increasing volumes of gasoline more difficult to place Threats from other export refineries SATORP/Jubail, YASREF/Yanbu, others Potential of U.S. export restrictions; unlikely despite political posturing Regulatory/Policy Issues U.S. policy on crude exports RFS Ethanol Blendwall/RIN Costs/Increasing volumes of alternatives Potentially more restrictive CAFE standards Tier 3 Rules More investment/increased costs Carbon restrictions tax/cap and trade/lcfs Other XL pipeline approval?/ls heating oil, bunker fuel/jones Act 32
33 John M. Mayes Turner, Mason & Company 2100 Ross Ave., Suite 2920 Dallas, Texas turnermason.com
The Changing North American Crude Market: Impacts to/from the U.S. Refining Complex
The Changing North American Crude Market: Impacts to/from the U.S. Refining Complex Presented to: North American Refining Conference June 9, 2015 Houston, TX John R. Auers, P.E. Executive Vice President
More informationPre U.S. Crude Boom (~2007/2008)
Pre U.S. Crude Boom (~2007/2008) Export regulations irrelevant. Refinery Utilization 90 80 70 60 50 40 30 20 10 0 U.S. Production Canadian Imports Saudi Imports Other Light & Medium WB Imports Heavy Waterborne
More informationB A K E R & O B R I E N
B A K E R & O B R I E N I N C O R P O R A T E D Q3 : U. S. Refining Margins Remain Robust Special Topic: Domestic Light Oil Processing in the U.S. Gulf Coast Have We Hit the Limit? Houston, October 30,
More informationDefining the Debate: Crude Oil Exports
Defining the Debate: Crude Oil Exports Trisha Curtis, Director of Research Upstream and Midstream Energy Policy Research Foundation, Inc. (EPRINC) Brookings Task Force February 28th, 214 About EPRINC www.eprinc.org
More informationUS Shale Liquids Surge: Implications for the Crude Oil Value Chain
US Shale Liquids Surge: Implications for the Crude Oil Value Chain Praveen Gunaseelan Vantage Point Advisors Matt Thundyil Transcend Solutions COQA Spring Meeting Houston March 2012 Transcend Solutions
More informationStronger than the others
Stronger than the others Natural gasoline demand, markets, and pricing Maria Mejia, NGL Analyst September 29, 2014 2014 Platts, McGraw Hill Financial. All rights reserved. Bentek Energy is a leader in
More informationLike a Box of Chocolates The Condensate Dilemma. 3rd Annual NGLs Forum
Like a Box of Chocolates The Condensate Dilemma 3rd Annual NGLs Forum E. Russell Braziel RBN Energy, LLC September 23, 2013 Tsunami of Condensates Mb/d 1,600 1,400 1,200 1,000 800 600 400 200 0» Historically
More informationMethodology. Supply. Demand
Methodology Supply Demand Tipping the Scale 1 Overview Latin America and the Caribbean, a major petroleum product importing region, provides an important counterbalance to surpluses in refined product
More informationCrude Export and the New Dynamics
27 April 2016 Crude Export and the New Dynamics Mel Larson, Principal Consultant SUPERIOR RESULTS. SUSTAINED. Topics of Interest Crude Export Impact The Great Divide Export to everywhere The US Advantage
More informationAsphaltene Precipitation in Domestic Sweet. Ron Fisher BP, Refining and Logistics Technology June 11, 2015
Asphaltene Precipitation in Domestic Sweet Ron Fisher BP, Refining and Logistics Technology June 11, 2015 Overview Precipitated asphaltenes can cause storage tank and heat exchanger fouling, desalter upsets,
More informationThe Rapidly Changing NA Crude Market Key Issues/Focus on the Downstream
The Rapidly Changing NA Crude Market Key Issues/Focus on the Downstream Presented at 2015 Peters & Co. Energy Conference Lake Louise, Alberta January 21-23, 2015 John R. Auers Turner, Mason & Company TM&C
More informationOCTANE THE NEW ECONOMICS OF. What Drives the Cost of Octane and Why Octane Costs Have Risen Since 2012 T. J. HIGGINS. A Report By:
THE NEW ECONOMICS OF OCTANE What Drives the Cost of Octane and Why Octane Costs Have Risen Since 2012 A Report By: T. J. HIGGINS Contents Foreword... 1 1. Executive Summary... 2 2. Tracking the Changing
More informationTurmoil in Refining The Shakeout Continues
Turmoil in Refining The Shakeout Continues OPIS National Supply Summit Las Vegas, Nevada October 22 24, 2012 John B. O Brien Executive Chairman Baker & O Brien, Inc. All rights reserved. Conclusions from
More informationDOWNSTREAM PETROLEUM 2017 DOWNSTREAM PETROLEUM
DOWNSTREAM PETROLEUM International and Asian Refining The global refining industry is fundamentally changing as emerging and maturing trends re-shape the global supply and demand patterns for crude oil
More informationThe Shifting Ground in US Crude Markets. Houston, TX April 15, 2013
The Shifting Ground in US Crude Markets Houston, TX April 15, 2013 Agenda Will production growth in Texas, Bakken, etc. overwhelm domestic demand? New Markets Eagle Ford, Permian to the USGC, Bakken to
More informationMarket Report Series Oil 2018
Market Report Series Oil 218 Norwegian Ministry of Energy, 17 April 218 Neil Atkinson, Head of Oil Industry and Markets Division Toril Bosoni, Senior Oil Market Analyst, Oil Industry and Markets Division
More informationOperating Refineries in a High Cost Environment. Options for RFS Compliance. March 20, Baker & O Brien, Inc. All rights reserved.
Operating Refineries in a High Cost Environment Options for RFS Compliance March 2, 217 Baker & O Brien, Inc. All rights reserved. Discussion Points Introduction Renewable Fuels Standard (RFS) Overview
More informationU.S. Crude Exports and Impact on Trade
U.S. Crude Exports and Impact on Trade 32 nd Annual Asia Pacific Petroleum Conference Dr. Helen Currie Senior Economist September 7, 2016 Cautionary Statement The following presentation includes forward-looking
More informationThe Changing Face of Global Refining
The Changing Face of Global Refining OPIS National Supply Summit Las Vegas, Nevada October 24-26, 2010 John B. O Brien, Executive Chairman Baker & O Brien, Inc. All rights reserved. The Changing Face of
More informationTurner, Mason & Company
6 Turner, Mason & Company International consulting practice since 1971 Downstream focus; refinery/chemical engineers Industry and financial clients Publish various outlook and forecast products Crude and
More informationMERTC 23 rd 24 th January, 2017 Manama, Kingdom of Bahrain
Future Challenges and Needs of the Refining Industry MERTC 23 rd 24 th January, 2017 Manama, Kingdom of Bahrain Dr. Dawood Nassif Board Director, BAPCO D. Nassif MRTC, January, 2017 Refiner s Challenges
More informationFeaturing: Tom Kloza, Oil Price Information Service (OPIS) SPONSORED BY.
THE OUTLOOK OF FUEL Featuring: Tom Kloza, Oil Price Information Service (OPIS) SPONSORED BY TH E NATSO SHOW 2013 FEB 3-7 SAVANNAH, GA. www.opisnet.com tkloza@opisnet.com 1 Presentation By: Tom Kloza OPIS,
More informationHighlights from the Argus Americas Crude Summit January 23-25, Dennis Sutton
Highlights from the Argus Americas Crude Summit January 23-25, 2013 Dennis Sutton Forward-Looking Statements This presentation contains forward looking statements within the meaning of the Private Securities
More informationNorth American Storage and Transportation Trends
North American Storage and Transportation Trends Brian Busch Director, Oil Markets and Business Development www.genscape.com 2016 Genscape Incorporated. All rights reserved. What we do 2 Current State
More informationThe Transition to Low Sulfur Bunker Fuel
2016: 5th Opportunity Crudes Conference The Transition to Low Sulfur Bunker Fuel NA Crude Oil Summit April 10-11, 2017 Houston, Texas John Mayes Director of Special Studies Turner, Mason & Company 2020
More informationU.S. Rail Crude Oil Traffic
U.S. Rail Crude Oil Traffic Association of American Railroads November 215 Summary U.S. crude oil production has risen sharply in recent years, with much of the increased output moving by rail. In 28,
More informationWhat Do the Impending New Bunker Specs Mean for Refiners
What Do the Impending New Bunker Specs Mean for Refiners John Mayes Director of Special Studies Turner, Mason & Company 2016: 5th Opportunity Crudes Conference 1 2020 Bunker Fuel Requirements Upcoming
More informationAN ECONOMIC ASSESSMENT OF THE INTERNATIONAL MARITIME ORGANIZATION SULPHUR REGULATIONS
Study No. 175 CANADIAN ENERGY RESEARCH INSTITUTE AN ECONOMIC ASSESSMENT OF THE INTERNATIONAL MARITIME ORGANIZATION SULPHUR REGULATIONS ON MARKETS FOR CANADIAN CRUDE OIL Canadian Energy Research Institute
More informationDownstream Petroleum Sector The Growing Prominence of Asian Refining
Downstream Petroleum Sector The Growing Prominence of Asian Refining Mr. Fahad Al-Dihani Deputy CEO,MAA Refinery, Kuwait National Petroleum Company-Kuwait Outline.. Global refining trends Kuwait s Position
More informationMarket Report Series Oil 2018 Analysis and Forecasts to Columbia University Centre on Global Energy Policy, New York, May 22 nd 2018
Market Report Series Oil 218 Analysis and Forecasts to 223 Columbia University Centre on Global Energy Policy, New York, May 22 nd 218 Robust global oil demand growth to 223 1.8 1.6 1.4 1.2 1..8.6.4.2.
More informationUS Refining Industry: Forecasts, Capacity, Challenges
US Refining Industry: Forecasts, Capacity, Challenges Crude Oil Quality Group Cindy Schild, API February 26, 2009 Overview Prices, Earnings & Forecasts Domestic Refinery Industry Capacity Environmental
More informationChanges to America s Gasoline Pool. Charles Kemp. May 17, Baker & O Brien, Inc. All rights reserved.
Changes to America s Gasoline Pool Charles Kemp May 17, 2016 Baker & O Brien, Inc. All rights reserved. Discussion Points Light Naphtha Definitions Sources and Uses of Light Naphtha Octane Challenges Tier
More informationMarket Report Series: Oil 2018 Analysis & Forecasts to Energy Community 10 th Oil Forum, Belgrade, 25 September 2018
Market Report Series: Oil 218 Analysis & Forecasts to 223 Energy Community 1 th Oil Forum, Belgrade, 25 September 218 Short term update: crude prices (excl. WTI) up strongly Aug/Sep $/bbl 8 Benchmark Crude
More informationImplications Across the Supply Chain. Prepared for Sustainableshipping Conference San Francisco 30 September 2009
Implications Across the Supply Chain Prepared for Sustainableshipping Conference San Francisco 30 September 2009 Agenda Residual Markets & Quality Refinery Bunker Production Supply & Pricing 2 World marine
More informationUBS Global Oil and Gas Conference May 22, Joe Gorder Executive Vice President Marketing and Supply
UBS Global Oil and Gas Conference May 22, 2008 Joe Gorder Executive Vice President Marketing and Supply 2008 Year-to-Date Performance Raised annual dividend rate by 25% to $0.60 per share Purchased more
More informationImplications of Residual Fuel Oil Phase Out
Implications of Residual Fuel Oil Phase Out David J. Ramberg and Sam A. Van Vactor IAEE 37 th International Conference June 18, 2014 1 How will refiners adapt to phase-out of highsulfur fuel oils? 1. 2010
More informationRefining Outlook: elements for a modern industrial culture in Italy
Refining Outlook: elements for a modern industrial culture in Italy Stefano Donzelli Foster Wheeler 24/10/12 Le strategie di mercato e di procurement per la filiera dell impiantistica italiana 1 Foreword
More informationUS Shale Oil Development and Impact on Aromatics Supplies
US Shale Oil Development and Impact on Aromatics Supplies Chuck Venezia Vice President, Petrochemicals Argus DeWitt September 23, 2014 The Shale revolution in the US has changed global market dynamics
More informationFor Region 5 and Region 7 Regional Response Teams Meeting April 22, 2015 St. Charles, Missouri via video/teleconference
For Region 5 and Region 7 Regional Response Teams Meeting St. Charles, Missouri via video/teleconference By Grant Nülle, Upstream Oil & Gas Economist, Exploration and Production Analysis Team U.S. Energy
More informationWyoming: At the Crossroads of the Boom
Wyoming: At the Crossroads of the Boom Trisha Curtis Director of Research, Upstream and Midstream Energy Policy Research Foundation, Inc. (EPRINC) Wyoming Pipeline Authority October 15th, 213 Thousand
More informationThe effects of increasing access to the U.S. Gulf Coast on global and North American price spreads
The effects of increasing access to the U.S. Gulf Coast on global and North American price spreads Presented by: John Homan Marketing and Logistics Representative, Laricina Energy Ltd. Crude Oil Markets,
More informationRecent Developments in EU Refining and in the Supply and Trade of Petroleum Products
Recent Developments in EU Refining and in the Supply and Trade of Petroleum Products Third Meeting of the EU Refining Forum Brussels, 22 May 2014 Toril Bosoni, International Energy Agency OECD/IEA 2014
More informationU.S. Natural Gas Outlook The 3rd London Gas & LNG Forum September 26 and 27, 2016 The Rag Army & Navy Club London
U.S. Natural Gas Outlook The 3rd London Gas & LNG Forum September 26 and 27, 216 The Rag Army & Navy Club London Lucian Pugliaresi Energy Policy Research Foundation, Inc. Washington, DC 1 About EPRINC!
More informationTANK BARGE OPPORTUNITIES RELATED TO CRUDE OIL PRODUCTION & MOVEMENT
TANK BARGE OPPORTUNITIES RELATED TO CRUDE OIL PRODUCTION & MOVEMENT Third Edition A SPECIAL INDUSTRY STUDY Prepared by: November 2014 775 Ridge Lake Boulevard, Suite 400 ~ Memphis, Tennessee 38120-9403
More informationU.S. Rail Crude Oil Traffic
U.S. Rail Crude Oil Traffic Association of American Railroads May 217 Summary U.S. crude oil production has risen sharply in recent years, with much of the increased output moving by rail. In 28, U.S.
More informationPerforming In A Volatile Oil Market
Performing In A Volatile Oil Market Matti Lehmus Executive Vice President, Oil Products Capital Markets Day Key Trends Impacting Refining Margins Demand growth to resume after steep drop Supply growth
More informationDrilling in North America s Low Oil Price Environment
Drilling in North America s Low Oil Price Environment AMM 8 th Steel Tube & Pipe Conference March 10, 2015 Nicole Leonard, Bentek Energy 2014 Platts, McGraw Hill Financial. All rights reserved. Key Takeaways
More informationGlobal Refining: Fueling Profitability in the Turbulent Times Ahead. Sponsored by:
Global Refining: Fueling Profitability in the Turbulent Times Ahead Sponsored by: The Outlook for Energy: A View to 24 Roland L. Moreau ExxonMobil Upstream Research Company Hart Energy Breakfast Club February
More informationDownstream. Mike Wirth. Executive Vice President Downstream Chevron Corporation
Downstream Mike Wirth Executive Vice President Downstream What We Delivered in 2006 Base Business Record safety Record utilization Record energy efficiency Record earnings - $4 Billion Selective Growth
More informationChanging Refinery Configuration for Heavy and Synthetic Crude Processing
Changing Refinery Configuration for Heavy and Synthetic Crude Processing Gary Brierley UOP LLC 2006 UOP LLC. All rights reserved. UOP 4525A-01 Why Should I Even Think About Running Synthetics? Oil sands
More informationAdam Bedard, CEO ARB Midstream, LLC Midstream View on Rail. June 2, 2015
Adam Bedard, CEO ARB Midstream, LLC Midstream View on Rail June 2, 2015 ARB Midstream Overview Growth oriented, infrastructure development company focused on early stage, organic development projects Provide
More informationPetroleum and Natural Gas Outlook
Petroleum and Natural Gas Outlook Energy Summit 26: Developing and Supporting Critical Energy Infrastructures at the LSU Center for Energy Studies Baton Rouge, Louisiana October 2, 26 A. Michael Schaal,
More informationThe Changing U.S. Refining Landscape Past, Present and Future
The Changing U.S. Refining Landscape Past, Present and Future John R. Auers, P.E. Executive Vice President Energy and the Economy Federal Reserve Bank of Dallas Dallas, TX September 7, 2018 U.S. Refining
More informationGlobal Downstream Petroleum Outlook
Global Downstream Petroleum Outlook Claude Mandil Executive Director International Energy Agency 3 rd OPEC International Seminar Vienna, 12 September 26 Spare Refinery Capacity Has Tightened 9 1% 85 95%
More informationRegional Refining Outlook
Regional Refining Outlook Implications for Crude Demand Platts Crude Summit 15 May 213 David Wech JBC Energy GmbH 13 th May 213 Research - Energy Studies - Consulting - Training Disclaimer All statements
More informationVTTI. Storage Markets : Our Perspective. StocExpo Europe March Onur Capan: Market Intelligence
VTTI Storage Markets : Our Perspective Onur Capan: Market Intelligence StocExpo Europe March 2017 VTTI track record at its 10 th anniversary VTTI has grown in 10 years to be one of the largest global independent
More informationImplications of the U.S. Shale Revolution
Implications of the U.S. Shale Revolution For October 17, 214 Chicago, Illinois By Adam Sieminski, Administrator U.S. Energy Information Administration U.S. Energy Information Administration Independent
More informationGrowing U.S. Light Crude Exports and IMO 2020 Driven Discounts: Who Benefits?
Growing U.S. Light Crude Exports and IMO 2020 Driven Discounts: Who Benefits? OPPORTUNITY CRUDES CONFERENCE OCTOBER 22, 2018 Baker & O Brien, Inc. All rights reserved. Legal Notice Baker & O Brien, Inc.
More informationTrinidad and Tobago Energy
Trinidad and Tobago Energy Conference 2017 Advantages of Vertical Integration in a Low Oil Price Environment Astor Harris Vice President Refining and Marketing 2017 January 24 Market Fundamentals 1Q13
More informationCompliance with IMO Regulations - New Strategies for Refiners in the U.S. and Internationally
14 th Annual Bunker and Residual Fuel Conference Compliance with IMO Regulations - New Strategies for Refiners in the U.S. and Internationally Aaron Imrie June 20, 2017 Houston, Texas Baker & O Brien,
More informationCanadian Bitumen and Synthetic Crudes
Understanding the Quality of Canadian Bitumen and Synthetic Crudes Pat Swafford Spiral Software Limited Crude Oil Quality Group Meeting February 26, 2009 Introduction Canadian crude production is increasing
More informationEuropean Energy Union Impact on the Refining & Petrochemical Business. John Cooper, Director General Budapest, 13th October 2015
European Energy Union Impact on the Refining & Petrochemical Business John Cooper, Director General Budapest, 13th October 2015 FuelsEurope represents 42 Member Companies 100% of EU Refining Page 2 AGENDA
More informationThe Shale Boom Heard Around the World
The Shale Boom Heard Around the World Ben Montalbano Director of Research and Operations Energy Policy Research Foundation, Inc. (EPRINC) Clingendael Institute November 5, 2013 Is this the wrong question?
More informationResidue Upgrading Technologies Key Technologies, Considerations & Options for your Refinery Russia BBTC 2015 MOSCOW
Residue Upgrading Technologies Key Technologies, Considerations & Options for your Refinery Russia BBTC 2015 MOSCOW Colin CHAPMAN April 2015 Euro Petroleum Consultants PRESENTATION SUMMARY - RUSSIA BBTC
More informationExxon Bets on Downstream U.S. Returns Beaumont refinery expansion complements Permian investment.
? Exxon Bets on Downstream U.S. Returns Beaumont refinery expansion complements Permian investment. Morningstar Commodities Research March. 12, 2018 Sandy Fielden Director, Oil and Products Research +1
More informationGrowing U.S. Oil and Gas Production Set to Reshape Competitive Position of U.S. Refineries
Growing U.S. Oil and Gas Production Set to Reshape Competitive Position of U.S. Refineries Prepared by: Charles G. Kemp March 2013 Baker & O Brien, Inc. 12001 N. Central Expressway, Suite 1200 Dallas,
More informationRefining Trends and Outlook
Refining Trends and Outlook Presented by: Greg Kort, P.E., ASA 2018 TXOGA PROPERTY TAX REPRESENTATIVES ANNUAL CONFERENCE March 7, 2018 www.ryan.com Agenda Hurricane Harvey Tax Cuts and Jobs Act of 2017
More informationApril Título da apresentação DD.MM.AAAA
Aquisition of Shell Argentina downstream assets April 2018 Título da apresentação DD.MM.AAAA DISCLAIMER This presentation contains estimates and forward-looking statements regarding our strategy and opportunities
More informationWRITTEN STATEMENT OF AMERICAN FUEL & PETROCHEMICAL MANUFACTURERS AS SUBMITTED TO THE COMMITTEE ON ENERGY AND NATURAL RESROUCES. United States Senate
WRITTEN STATEMENT OF AMERICAN FUEL & PETROCHEMICAL MANUFACTURERS AS SUBMITTED TO THE COMMITTEE ON ENERGY AND NATURAL RESROUCES United States Senate on United States Crude Export Policy March 19, 2015 1
More informationStrategic Factors Impacting The California Crude Oil Market. About Purvin & Gertz, Inc. California Independent Petroleum Association
Strategic Factors Impacting The California Crude Oil Market Hyatt Regency Huntington Beach Mike Sarna Eric Wei Long Beach Office 1 About Purvin & Gertz, Inc. Privately-Owned, Independent International
More informationThursday, March 6, 2014 Houston, TX. 8:30 9:40 a.m. AN ECONOMIST S-EYE VIEW OF THE ENERGY INDUSTRY: HYDROCARBON HAT TRICK
Thursday, March 6, 214 Houston, TX 8:3 9:4 a.m. AN ECONOMIST S-EYE VIEW OF THE ENERGY INDUSTRY: HYDROCARBON HAT TRICK Presented by Jesse Thompson Business Economist Federal Reserve Bank of Dallas, Houston
More informationCan Small Refineries Succeed in North Dakota and Texas? Economics favor larger operators.
? Can Small Refineries Succeed in North Dakota and Texas? Economics favor larger operators. Morningstar Commodities Research July 9, 2018 Sandy Fielden Director, Oil and Products Research +1 512 431-8044
More informationSTATUS OF THE U.S. REFINING INDUSTRY
STATUS OF THE U.S. REFINING INDUSTRY October 2005 BAKER & O BRIEN Incorporated, All Rights Reserved REFINING VITAL LINK IN THE OIL SUPPLY CHAIN Crude Oil Supply & Logistics Products Distribution & Marketing
More informationDownstream & Chemicals
Downstream & Chemicals Mark Nelson Executive Vice President Downstream & chemicals portfolio Fuels refining & marketing Focused, regional optimization Petrochemicals Advantaged feed, scale and technology
More informationCRUDE BY RAIL REFINER S PERSPECTIVES. Presented by Joseph Israel, February 2013
CRUDE BY RAIL REFINER S PERSPECTIVES Presented by Joseph Israel, February 2013 2 Background Profitability Profile Refinery profitability profile is driven by: Location Feedstock and production parity points
More informationIMPACTS OF THE IMO SULPHUR REGULATIONS ON THE CANADIAN CRUDE OIL MARKET
IMPACTS OF THE IMO SULPHUR REGULATIONS ON THE CANADIAN CRUDE OIL MARKET CERI Breakfast Overview Allan Fogwill, CEO Canadian Energy Research Institute November 2018 Overview Canadian Energy Research Institute
More informationInvestor Presentation. September 2015
Investor Presentation September 2015 Safe Harbor Statement Statements contained in this presentation that state the company s or management s expectations or predictions of the future are forward looking
More informationThe Alliance October 23, 2008
The Alliance October 23, 2008 Energy Security Erec Isaacson Vice President, Commercial Assets ConocoPhillips Alaska, Inc. Cautionary Statement FOR THE PURPOSES OF THE SAFE HARBOR PROVISIONS OF THE PRIVATE
More informationRice Global E&C Forum August 9, 2013
Rice Global E&C Forum August 9, 2013 Midyear Forecast: July 1, 2013 Conglin Xu, Senior Editor-Economics Laura Bell, Statistics Editor Alan Petzet, Chief Editor-Exploration Forecast & Review: Jan. 7, 2013
More informationU.S. Crude Oil: The Upside & The Other Side
U.S. Crude Oil: The Upside & The Other Side Greg Haas ghaas@hartenergy.com Director of Research, Integrated Oil & Gas Houston, Texas March 13, 2014 Disclaimer Reports by Hart Energy Research & Consulting,
More informationEnergy Security of APEC Economies in a Changing Downstream Oil Environment
IEEJ Feb. 2018 4th APEC OGSN Forum on 7 March 2018 Session2-2 Energy Security of APEC Economies in a Changing Downstream Oil Environment Takashi MATSUMOTO and Ichiro KUTANI Manager, Global Energy Group
More informationLight-Heavy Crude Oil Outlook: Implications for Coker Margins
Light-Heavy Crude Oil Outlook: Implications for Coker Margins Argus U.S./Canada Asphalt 2009 April 1, 2009 Ben Schrader ben.schrader@bakerobrien.com BAKER & O BRIEN Incorporated, All Rights Reserved Disclaimer
More informationAnalysts Briefing. 23 August 2016
Analysts Briefing 23 August 2016 1 Disclaimer This presentation contains forward looking statements concerning the financial condition, results and operations of The New Zealand Refining Company Limited
More informationThe Supply of Oil. Projections to Oil and the Macroeconomy in a Changing World Federal Reserve Bank of Boston June 9, 2010 Boston, MA
The Supply of Oil Projections to 2035 Oil and the Macroeconomy in a Changing World Federal Reserve Bank of Boston June 9, 2010 Boston, MA Howard Gruenspecht, Deputy Administrator Near-term oil price uncertainty
More informationThe Impact of Shale Oil Production Growth in the US
The Impact of Shale Oil Production Growth in the US Presentation to IMSF, Copenhagen By Selena Yan, Senior Analyst www.clarksons.com Disclaimer The material and the information (including, without limitation,
More informationFuel Focus. Understanding Gasoline Markets in Canada and Economic Drivers Influencing Prices. Issue 20, Volume 8
Fuel Focus Understanding Gasoline Markets in Canada and Economic Drivers Influencing Prices Issue 20, Volume 8 October 18, 2013 Copies of this publication may be obtained free of charge from: Natural Resources
More informationASPHALT SUPPLY IN A VOLATILE OIL WORLD. Bill Haverland ConocoPhillips Company
ASPHALT SUPPLY IN A VOLATILE OIL WORLD Bill Haverland ConocoPhillips Company Issues to be Discussed Crude Oil Supply Crude Oil Pricing Refining Capacity Products Supply Products Pricing Future of the Industry
More informationA summary of national and global energy indicators. FEDERAL RESERVE BANK of KANSAS CITY
THE U.S. Energy DATABOOK A summary of national and global energy indicators JULY 1, 17 FEDERAL RESERVE BANK of KANSAS CITY SUMMARY OF CURRENT ENERGY CONDITIONS The number of total active drilling rigs
More informationREFINING SOLUTIONS IN A CHANGING WORLD RFG, RFS, SULFUR, BENZENE, TIER 3 AND BEYOND
REFINING SOLUTIONS IN A CHANGING WORLD RFG, RFS, SULFUR, BENZENE, TIER 3 AND BEYOND Thomas R. Hogan, P.E. Senior Vice President January 22, 2015 Turner, Mason & Company Privately held established 1971
More informationQ Analyst Teleconference. 9 August 2018
9 August 218 Disclaimer This presentation contains forward-looking statements that reflect the Company management s current views with respect to certain future events. Although it is believed that the
More informationEmerging Trends in Petroleum Markets
Emerging Trends in Petroleum Markets For Defense Logistics Agency, Worldwide Energy Conference Washington, D.C. By T. Mason Hamilton, Petroleum Markets Analyst U.S. Energy Information Administration Independent
More informationASPHALT SUPPLY IN A VOLATILE OIL WORLD
ASPHALT SUPPLY IN A VOLATILE OIL WORLD Bill Haverland ConocoPhillips Baxter Burns Ergon CRUDE OIL SUPPLY A WORLD LOOK Crude Oil Supply (2006) World Crude Oil Production Millions of Barrels Per Day FSU/E.
More informationASPHALT SUPPLY IN A VOLATILE OIL WORLD. Bill Haverland ConocoPhillips Company
ASPHALT SUPPLY IN A VOLATILE OIL WORLD Bill Haverland ConocoPhillips Company Issues to be Discussed Crude Oil Supply Crude Oil Pricing Refining Capacity Products Supply Products Pricing Future of the Industry
More informationPRISM TM Refining and Marketing Industry Analysis
PRISM TM Refining and Marketing Industry Analysis PRISM is a trademark of Baker & O Brien, Inc. All rights reserved. Baker & O Brien, Inc. All rights reserved. Baker & O Brien Overview History Founded
More informationPOINTS TO COVER UNCONVENTIONAL OIL AND GAS AND THE SHALE REVOLUTION: GAME CHANGER 4/16/2014. If we don t screw it up! Context Implications Risks
UNCONVENTIONAL OIL AND GAS AND THE SHALE REVOLUTION: GAME CHANGER If we don t screw it up! POINTS TO COVER Context Implications Risks April 11 1 You can always count on Americans to do the right thing
More informationConverting Visbreakers to Delayed Cokers - An Opportunity for European Refiners
Converting Visbreakers to Delayed Cokers - An Opportunity for European Refiners European Coking.com Conference Sept. 30 - Oct. 2, 2008 Alex Broerse Lummus Technology a CB&I company Overview Introduction
More informationRefining & Marketing. Mario Taraborrelli COO
Refining & Marketing Mario Taraborrelli COO Disclaimer This presentation contains forward-looking statements regarding future events and the future results of Eni that are based on current expectations,
More informationTerminals Jeff Armstrong
Terminals Jeff Armstrong KMT - 2002 Legend Dry Bulk Locations Liquid Locations 2 KMT - 2004 (4) (4) (4) Legend Transload Operations Dry Bulk Locations Liquid Locations 3 Liquids Terminals Pasadena Terminal
More informationIssues to be Discussed ASPHALT SUPPLY IN A VOLATILE OIL WORLD. Crude Oil Supply (2006) CRUDE OIL SUPPLY. Crude Oil Demand CRUDE OIL PRICING
6 SEAUPG CONFERENCE - WILMINGN, NORTH CAROLINA Issues to be Discussed ASPHALT SUPPLY IN A VOLATILE OIL WORLD Bill Haverland ConocoPhillips Company Crude Oil Supply Crude Oil Pricing Refining Capacity Products
More informationDownstream & Chemicals
Downstream & Chemicals Pierre Breber Executive Vice President 017 Chevron Corporation Downstream portfolio Fuels refining & marketing Integrated value chains Lubricants & additives Globally positioned
More information