Valero Energy , a refiner that processes lower quality crude oil into products like gasoline and jet fuel.
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ConocoPhillips refines crude oil into petroleum products such as gasoline, distillates and aviation fuels.
This unit also includes the buying, selling and transporting of crude oil and petroleum products.
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Refineries profit from the difference between crude oil and refined products, such as gasoline.
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The wider the spread between crude oil and refined products, the more profitable refiners are.
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Another top buy was Calumet Specialty Products Partners, an Indianapolis-based refiner of crude oil into fuels and products for lubrication and paints.
The EU said the sanctions prohibit the import, purchase and transport of Iranian crude oil and petroleum products as well as related finance and insurance.
Growth in U.S. real imports slowed to about 3 percent in 2006, in part reflecting a drop in real terms in imports of crude oil and petroleum products.
Pipelines uneventfully transport millions of barrels of crude oil, refined products and distillates each and every day, which according to government estimates, accounts for approximately 65% of all energy supplies used on a daily basis.
There currently appears to be sufficient supply of non-Iranian oil to permit foreign countries to significantly reduce their import of Iranian oil, taking into account current estimates of demand, increased production by countries other than Iran, inventories of crude oil and petroleum products, and available strategic petroleum reserves.
Since it is not practical to have a physically-backed crude oil fund, existing products rely on futures contracts to implement their strategies.
Place a tariff on imported crude oil and finished petroleum products.
"Even small distortions of assessed prices may have a huge impact on the prices of crude oil, refined oil products and biofuels purchases and sales, potentially harming final consumers, '" the Commission said.
Another top buy was Calumet Specialty Products Partners (nasdaq: CLMT - news - people ), an Indianapolis-based refiner of crude oil into fuels and products for lubrication and paints.
Specifically, Icahn cited widening crack spreads, or the difference between crude oil prices and the price petroleum products that come from refining the crude.
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Finally, stocks can be in the form of crude oil of various grades, products or a mixture of the two.
Another major commodity imported into the port is bulk oil, both crude and refined products as well as chemicals.
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The crack spread is the difference between the prices paid for crude oil and the price of refined products.
Downstream activities generally refer to the refining of crude oil and distributing its by-products including gasoline, natural gas, LPG and diesel.
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With lower demand, the prices for upstream products such as crude oil and natural gas have remained largely subdued over 2012, leading to lower price realization for Exxon.
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We would have been worse off if we had tried to produce all our refined products from our own crude oil.
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So producing more crude oil, if it is heavy crude oil, will not result automatically in more gasoline or other high value end products.
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This is because of a relatively small contribution of natural gas to ConocoPhillips? stock value compared to other petroleum products produced by ConocoPhillips such as crude oil, natural gas liquids, gasoline, distillates, fuel oil, and a variety of others.
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Refining margins generally tend to increase when crude oil prices rise as this leads to higher average prices for various refined products.
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Hess Corporation, is a global integrated energy company engaged in the exploration for and the production, purchase, transportation and sale of crude oil and natural gas, as well as the production and sale of refined petroleum products, electricity.
The White House has argued that crude oil, despite its high price, is plentiful and that prices for gasoline and other petroleum products are high because refinery capacity is low.
Venezuela has slipped from being the top supplier of crude to the United States, its natural market, to the fourth-biggest (or second when oil products are added).
The prices of refined products like diesel, gasoline and jet fuel, might increase much more sharply than crude-oil futures because of the refining belt that runs along the Gulf.
The White House has argued that crude oil, despite its high price, is plentiful, and that gas prices and prices for other petroleum products are high because domestic producers cannot refine their crude supplies quickly enough.
Other countries have also responded: Europe has offered 2m barrels per day of petroleum products from its strategic reserves, though it is not yet clear how this will be divided between crude oil and petrol.
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