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Heavy Crude Oil Upgrading: Jazmin Crude

Heavy Crude Oil Upgrading: Jazmin Crude

The Jazmin crude oil is located at the heart of Middle Magdalena in Colombia. It is heavy and sour crude oil with 43 wt.% of vacuum bottoms. It cannot be processed at the conventional refinery without being mixed with other lighter crudes, and should be upgraded to produce synthetic crude with higher concentration of distillates and lower acidity and carbon content. In this paper eight upgrading alternatives are presented. The alternatives include the processing of the crude, reduced crude and vacuum bottoms of the Jazmin crude oil using the following technologies: Distillation, solvent deasphalting, visbreaking, Delayed Coking, and Hydrotreating. The experiments were conducted at pilot scale, and there were used standard analysis techniques such as ASTM. In this study it was found that Jazmine crude oil and its heavy components produce high distillate yields when they were processed with thermal conversion processes. In addi- tion those processes reduce the products acidity. Within the analyzed scheme the one corresponding to the visbreaking of the crude oil and the Delayed Coking of the vacuum bottoms from the visbreaking is perhaps the most attractive, giving 5.9 wt.% of gas, 78.2 wt.% of distillates and 15.9 wt.% of coke.
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Macroeconomic determinants of crude oil demand in Ghana

Macroeconomic determinants of crude oil demand in Ghana

The studies on crude oil consumption identified in the extant literature were mostly from outside sub-Saharan Africa (See Table 1). These studies have employed various econometric methods to estimate the determinants of crude oil demand in both single time series and cross- country panel cases respectively. Among them are time series and panel data models, partial adjustment and lagged models, ARDL and other cointegration models. To a larger extent, the studies do not always report unanimous findings on the effect of the macroeconomic determinants of demand for energy, though most confirmed the expected signs of real price and real income effects based on demand theory (Ozcan, 2015). Table 1 provides a summary of empirical studies that focused specifically on the demand for oil consumption.
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Role of bacterial community in biodegradation of crude oil

Role of bacterial community in biodegradation of crude oil

Crude oil being a a dark sticky liquid is heterogeneous mixture of varying molecular weight from which various petroleum products are extracted. There are various technological processes which are used for refining it into consumer products like paraffin oils, gasoline, lubricants, vaseline, asphalt, domestic fuel oil and polymers. The biological, chemical, and geochemical transformations are responsible for formation of crude oil. Several microorganisms are associated with the crude oil formation. The type of substrate and microorganism(ie aerobic or anaerobic) are major parameters responsible for degradation of different petroleum products. For these microorganisms the main source of carbon in crude oil are hydrocarbons which are both aliphatic and aromatic, but also include organic compounds that are mostly the products of crude oil biodegradation. These micro organisms find application in enhancement of oil production using microbiological methods. The present review highlights the biodegradation of crude oil by bacterial community.
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Effect of Crude Oil on Permeability Properties of the Soil

Effect of Crude Oil on Permeability Properties of the Soil

This reduction in permeability hinders the flow of water in the soil which invariably affects the groundwater levels. Groundwater is the major source of municipal water and makes up about 20% of the World’s fresh water (Ludwig, Hilborn, Walters, 1993). Groundwater generally feeds from surface water through precipitation from rivers, streams and the rains. When the natural recharge rate of groundwater is impeded or hindered, as is done when there is reduction in permeability of the soil, the groundwater will be drastically reduced and if water is constantly being drawn from boreholes within the vicinity of spill area, there will be depletion in groundwater level due to continuous use and sometimes overuse. This can cause major fundamental problems both to human and the environment. The mostevident problems are lowering of water table, subsidence and salt water intrusion, Ayininuolaet al (2015). When the soil particles are coated with oil, the tend to stick to themselves, literally blocking the passage of water. As a result of crude oil pollution, soil physical properties such as pore spaces might be clogged, which reduces soil aeration, infiltration of water into the soil, increased bulk density of the soil which may affect plant growth (Abosede, 2013)
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Selectivity in Improvement of Rheological Properties of Crude Oil

Selectivity in Improvement of Rheological Properties of Crude Oil

Along with physical and chemical properties of mix, the software has to be focused also on the possible profit got from mixture. It demands that the software also included: Cost various crude oil and their mixes, price of final distillates and other products of oil processing. Separate tanks, load into the mixing tank where they mix up before obtaining homogeneous structure. Contents of tanks mechanically mix up. It is necessary to select tests for definition whether mix is uniform and whether it meets its predetermined specification. In case of not compliance mix correction has to be made. All procedure of mixture in tanks is very labor-consuming and expensive. Unlike mixture in the tank, line mixture is carried out by simultaneous giving of different types of crude oil in the tank of final mix by means of the static line mixing device. Effectively and unmistakably to operate mixture process, line analyzers are necessary. The set ratio of streams at various gives to nefty mix of the required quality. Line mixture allows to adjust in line quality of mix by change of a ratio of the given raw materials. Mix is produced instantly, and there is no need to mix it in mixture tanks. Effectively and unmistakably to operate mixture process, line analyzers that instantly are necessary to measure mix parameters at the exit and to provide to operators of mixture necessary information on qualitative parameters of the received mix. It allows to adjust mix in real time on a stream in mixture process, providing mix with predetermined properties. It excludes the adjusting repeated mixture in volume the whole tank and also reduces an exit of unnecessary sub-standard products. The volumes of final distillates demanded by the market long and expensive laboratory analyses are necessary for check of real physical properties of mix. If these properties are not reached, repeated mixture is required. Effective mixture demands line monitoring of properties of mix throughout all production cycle the Chemical composition from each oil different. Despite the fact that whether oil is clean, or it is mix crude oil, for maintenance of stable quality of products line correction has to be carried out continuously. It demands sampling in real time and checks of physical properties of mix throughout all production cycle. Among all analyzers available in the market, line analyzers of the nuclear magnetic resonance (NMR) are the most suitable for this purpose.
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Behaviour of Crude Oil Contaminated Clayey Sands

Behaviour of Crude Oil Contaminated Clayey Sands

IV. P REPARATION O F C RUDE O IL C ONTAMINATED S OIL Each type of disturbed soil sample is air dried, ground and foreign matter present, if any, is removed. The air dried soil is then sieved through 4.75 mm IS sieve and mixed at optimum moisture content (OMC) and stored for 24 hours in air tight polythene bags so that no loss of water takes place due to evaporation. Optimum moisture content was chosen because at OMC crude oil absorption of soil will be uniform. The soil samples so prepared are then mixed thoroughly with crude oil at 3%, 6% and 9% by weight of the soil and allowed to cure for ten days before testing. V. D ETERMINATION O F G EOTECHNICAL P ROPERTIES O F
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Crude Oil Prices and Economic Development in Libya

Crude Oil Prices and Economic Development in Libya

This study sought to examine the impacts of oil price volatility on the economical development in Libya using a sample of observations from 1986 to 2016 through using a vector error correction methodology. To this end, a unit root test was conducted, in which data were shown to be non-stationary in all levels, and stationary in the first difference for all variables. Moreover, the cointegration model was applied, and the results showed that one cointegrating equation exists, suggesting the long-term effects of crude oil price on the agriculture, construction and manufacturing sectors. Based on the Granger causality test, oil price volatility can affect agriculture. Crude oil prices instability also effects the performance of the agriculture sector. Besides, the construction sector was found to be dependent on crude oil price. Our study found results that are similar with those of Torul and Alper (2010); Mehrara and Sarem (2009). Based on the results of this paper, this paper has an important implication for the Libyan economy in formulating policies on crude oil price fluctuations. The Libyan government must policies take that grow dramatically and diversify their economic base. This should go hand in hand with measures needed to enhance their capacity to withstand adverse external shocks and reduce their exposure to the fluctuations, reduce dependence on oil.
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Assessment of Periwinkle (Tympanotonus fuscatus) Found in Crude Oil and Non Crude Oil Contaminated Areas of Rivers State, Nigeria

Assessment of Periwinkle (Tympanotonus fuscatus) Found in Crude Oil and Non Crude Oil Contaminated Areas of Rivers State, Nigeria

The Pathogenic organisms isolated are of health concern, they are implicated to causing health problems like infantile diarrhea and meningitis caused by E. coli, cerebrospinal fluid shunts in children caused by Staphylococcus sp, Salmonellosis (food poisoning) caused by Salmonella sp, acute gastroenteritis and bacteremia in persons with underlying hematological malignancies or hepatic dysfunctions caused by Micrococcus sp and Bacillus sp and infections of wounds, burns and blood caused by Pseudomonas sp. The isolation of Pseudomonas in the study indicates that persons with open or untreated wounds with other blood infections bath in the water bodies. The presence of Aspergillus sp, Fusarium sp, Penicillium sp and Saccharomyces sp in both crude oil and non-crude oil contaminated areas implicates that these fungi are capable of growing under all conditions and can be useful for the remediation of the polluted environment.
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International Linkage of Crude Oil futures Markets of India: Empirical evidences from Indian Crude Oil futures Markets

International Linkage of Crude Oil futures Markets of India: Empirical evidences from Indian Crude Oil futures Markets

Crude oil price experiences wide price swings in times of shortage or oversupply. The crude oil price cycle may alter over several years responding to changes in demand as well as supply by OPEC and non-OPEC. Origin of market linkages lies in the efficient market hypothesis which states that all the markets incorporate any new information simultaneously and there does not exists any lead- lag relationship across the markets. However, frictions in markets, in terms of transaction costs and information asymmetry, may lead to return and volatility spillovers between these markets. Moreover, all the markets do not trade simultaneously for many commodities. Understanding information flow across the markets is very important for hedge funds, portfolio managers and hedgers for hedging and devising cross-market investment strategies. Efficient functioning of futures markets depends on the volatility dynamics with spot markets. Volatility spillover also explains the interdependence between the spot and futures markets.
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The Effect of Crude Oil Price on the Methanol price

The Effect of Crude Oil Price on the Methanol price

Crude oil as one of the main sources of energy is also the main source of income for members of OPEC. So, the volatility of crude oil price is one of the main economic variables in the world and analysis of the effect of its changes on key economic factors has been always considered as significant. The reason might be the high sensitivity of oil price to political, economic and cultural issues worldwide and consequently its volatility on the one hand, and the high influence of the volatile prices on macroeconomic variables. On the other hand, for different reasons such as oil price volatilities and income from oil export, economic planners and policy makers in Iran have been mainly focused on the promotion of non-oil exports especially during the last few decades. Therefore, methanol as one of the most commonly used petrochemical products has a high potential for production and export of non-oil products in Iran. For this reason, in the present study there was an attempt to examine the relationship between the prices of Iran’s crude oil and methanol using FIGARCH model and based on the weekly time series data related to the research variables. The results of the study showed that the long memory parameter is equal to 0.32 which is meaning the shocks caused by volatility of methanol market and crude oil price to the methanol price were lasting and meaningful and were revealed in the long term.
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EFFECTS OF TEMPERATURE ON NIGERIAN WAXY CRUDE OIL

EFFECTS OF TEMPERATURE ON NIGERIAN WAXY CRUDE OIL

This technical paper evaluates the effects of temperature on Nigerian waxy crude oil. The laboratory measurements were carried out on wax appearance temperature, using the precipitation method. The transient state measurement, the degree of viscosity reduction and the yield stress of the given crude oil were also determined. It is noted that the crude oil sample has no transient behavior since the shear stress shows time independent behavior. It can be observed that the yield stress which was required to start the flow decreased as the temperature increases. The results of the study shows that the percent wax deposited decreased as temperature increases. Also the percent Degree of Viscosity Reduction increased from 20 O C to 60 O C. Also, the Nigerian waxy crude oil has no transient behavior and the yield stress decreased as the temperature increases.
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A Comparative Study on the Hydrocracking for Atmospheric Residue of Mongolian Tamsagbulag Crude Oil and Other Crude Oils

A Comparative Study on the Hydrocracking for Atmospheric Residue of Mongolian Tamsagbulag Crude Oil and Other Crude Oils

Upgrading heavy and residual oils into valuable lighter fuels has attracted much attention due to growing worldwide demand for light petroleum product. This study focused on hydrocracking process for atmospheric residue (AR) of Mongolian crude oil in the first time compared to those of other countries. Residue samples were hydrocracked with a commercial catalyst at 450˚C, 460˚C, 470˚C for 2 hours under hydrogen pressure of 10 MPa. The AR conversion and yield of light fraction (LF) reached to 90.6 wt% and 53.9 wt%, at 470˚C by the hydrocracking for atmospheric residue of Tamsagbulag crude oil (TBAR). In each sample, the yield of MF was the highest at 460˚C temperature, which is valuable lighter fuel product. The polyaromatic, polar hydrocarbons and sulfur compounds were concentrated in the MF and HF because the large amount of light hydrocarbons produced from TBAR as the increasing of the hydrocracking temperature. The content of n-paraffinic hydrocarbons was decreased in HF of TBAR, on effect of hydrocracking tem- perature. This result suggests the longer molecules of n-paraffin (С 20 -С 32 ) in HF were reacted better, than middle mole-
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Oil and Cars: The Impact of Crude Oil Prices on the Stock Returns of Automotive Companies

Oil and Cars: The Impact of Crude Oil Prices on the Stock Returns of Automotive Companies

As a result we have created three portfolios of the car companies, having Toyota and Honda as the Japanese portfolio, BMW and VW as the German portfolio and Ford and GM as the US portfolio. Although our aim is not to obtain an asset pricing model with high explanatory power, but only point out the influence of the crude oil prices on the stocks, we still choose to have market indices to serve as control variables in our regressions. Chen et al. (1986) uses indices in their regressions to reflect the impact of the nominal influence of the inflation variables and flow of information into the market. We are aware of the fact that even the indices themselves are influenced by the movements in the crude oil prices, therefore we first run the regressions on Brent for each index and each period. If the influence is significant we adjust the index into such a state, as if it was not influenced by the crude oil fluctuations. This means that if a rise in oil price according to the regression causes a fall in the index value, we back the fall of index by the amount of oil price increase times the regression coefficient. According to the portfolios we created, we have chosen three indices to serve as control variables while aiming at indices aggregating large amounts of companies to truly show the impact of oil price on the whole economy. For the German portfolio, we have chosen the CDAX index, which is an index traded at XETRA exchange in Frankfurt encompassing 684 quotes. For Japan we have chosen NIKKEI 225, and for USA the S&P 500.
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Using the Crude Oil and Heating Oil Markets for Diesel Fuel Purchasing Decisions

Using the Crude Oil and Heating Oil Markets for Diesel Fuel Purchasing Decisions

Seasonal patterns in prices are driven by fundamental factors, and if markets are efficient it is generally not possible to profit from these price patterns. However, because historical prices for crop inputs are seldom reported, many producers may not be aware of seasonal price patterns. In other words, while the market may be efficient at the aggregate level, it may not be as efficient on a localized level due to a lack of information. Thus, individual producers may make incorrect decisions per- taining to forward pricing solely due to lack of information. In this case, simply having knowledge of historical seasonal price patterns may be of use to producers. Figure 3 shows seasonal price indices for crude oil, heating oil, and diesel fuel. All three price series follow a seasonal pattern characterized by low prices in the spring which strengthen as the year progresses, peaking in September and then decreasing through the end of the year. Based on the seasonal indices, Kansas diesel fuel prices appear to follow NYMEX crude oil futures prices slightly better than heating oil futures prices.
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Are Crude Oil, Gas And Coal Prices Co integrated?

Are Crude Oil, Gas And Coal Prices Co integrated?

his study examines the existence of long run relation between crude oil, natural gas and coal prices. Energy data for US is used and Based on the result of The Augmented Dickey-Fuller (ADF) tests, autoregressive distributed lag (ARDL) approach is adapted to cointegration analysis. Underlying ARDL model is specified in logarithmic form, so that the coefficients indicate the elasticities. Long run relationship and error correction model (ECM) are estimated for selected ARDL. Moreover, to confirm the stability of the model, CUSUM and CUSUMSQ tests are also conducted with the results that the estimated model is completely stable. The results confirm the existence of long run relation between coal, gas and oil prices. However, in short run gas prices have no effects on the oil prices as its coefficient is insignificant.
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The Effect Of Crude Oil To The Corrosion Properties Of Petroleum Pipeline

The Effect Of Crude Oil To The Corrosion Properties Of Petroleum Pipeline

Corrosion is the leading cause of failure of the pipelines in the world. Majority of the failures were due to internal corrosion which were more frequent than those due to external corrosion. Normally, large amount of crude oil usually needs effective transportation. So, pipeline is a great transportation to solve this problem. But any failure to ensure the safety and continuous operation on crude oil pipelines can be effected to economic, environment and life-safety implications.

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Bioremediation of Crude Oil by Different Fungal Genera

Bioremediation of Crude Oil by Different Fungal Genera

The main purpose of this growth study was to assess the ability of fungi to grow, penetrate into the contaminated soil with bulking agent and degrade the hydrocarbon. Fungal inocula of all species that were used were prepared as described in previous section. Approximately, 100 g of hydrocarbon contaminated sludge was prepared by mixing the soil thoroughly with 10 ml of crude oil and placed in a 250 mL beaker. Bulking agent was first added on top of the soil. Approximately, 10 mL of fungal inocula resuspended in Minimal Salt Media (MSM) was added to the beakers. The beakers were then kept at room temperature until the fungi mycelia had grown and covered the bulking agent surface completely. The flask's contents were then completely mixed and kept at room temperature for 6 weeks. As for control, 100 g of hydrocarbon contaminated sludge was placed in a glass beaker without any addition of the fungal mycelia. Two types of control were used in the experiment: unsterile soil without the addition of fungal inoculum in order to evaluate the degradative capacity of indigenous microflora present in the soil (indigenous culture) (C1) and sterile soil without addition of inoculum used as an abiotic control to account for loss by evaporation (C2).
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Crude oil and gasoline prices: an asymmetric relationship?

Crude oil and gasoline prices: an asymmetric relationship?

market power, search costs, consumer response to changing prices, inventory management, accounting prac- tices, and refinery adjustment costs. For the banking industry, Neumark and Sharpe (1992) show that market concentration is an explanatory variable for the asymmetry found in interest rate movements. For the gasoline markets, however, no one has posited econometric tests that would allow the testing of the various explanations (including market power) for price asymmetry against the available data. Without such tests, it remains a matter of speculation whether the asymmetric response of gasoline prices to movements in crude oil prices is the result of market power or more benign forces.
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CONTRACT for Sale and Purchase of Bulk Bonny Crude Oil Consigned to Seller and Re-Assigned to Buyer CRUDE OIL - INCOTERMS CIF

CONTRACT for Sale and Purchase of Bulk Bonny Crude Oil Consigned to Seller and Re-Assigned to Buyer CRUDE OIL - INCOTERMS CIF

b. All documents drawn under and in compliance with the Terms of the Documentary Letter of Credit shall be duly honoured upon presentation at the issuing bank for payment. In accordance with Article 14.2. After confirmation of the full swift pre-advice DLC to the seller’s bank, the 2% Performance bond issued to the buyer’s bank, the product will be registered, re- assigned, and Cargo been officially programmed in buyer’s name to reflect on Shell Network Screen London, Lloyd’s for buyer confirmation as the consignee of the product. Upon the monthly allocation reassignment to the buyer and the buyer subsequent verification of the programmed monthly cargo load in the Shell Network Loading Screen in his favour as the consignee of the month crude oil allocation offered, Seller nominates the vessel and forward the vessel particulars and Gives to the Buyer: Ship Name, Call Letters, Captain’s Name and a Copy of the Aspatankvoy Charter Party, and shall appoint their local agent to coordinate the legal procedure. Then the buyer’s bank swifts DLC value for the month cargo shipments to the seller’s bank.
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An analysis of price and volatility transmission in butter, palm oil and crude oil markets

An analysis of price and volatility transmission in butter, palm oil and crude oil markets

Price transmission studies involving dairy commodities are rare. Most of these studies focus on price transmission along the supply chain. Chavas and Mehta (2004) used a reduced form model to analyse transmission effects between wholesale and retail butter prices. Capps and Sherwell (2007) found asymmetric price transmission between farm and retail milk prices in seven cities in the USA. Asymmetric price transmission from farm gate milk prices to retail prices for a variety of dairy products in Spain was re- ported in Serra and Goodwin (2003). Vertical transmission effects between wholesale and small dairy producers ’ prices in Panama were analysed in Acosta and Alberto (2014). Spatial transmission between EU butter and SMP wholesale prices for four dif- ferent EU member states was studied by O’Connor (2006), who found transmission be- tween these member states. In a recent study, Acosta et al. (2014) found that there is evidence for price transmission from global prices to domestic markets for milk prices using an (asymmetric) error correction model. However, none of these studies investi- gated whether there was transmission in both prices and volatility between EU and World dairy prices, or between dairy prices and prices of substitutes, or crude oil.
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