One unexpectedly hit high-quality light crude oil, enough to produce 100 barrels a day.
Further, heavy crude oils do not produce as much gasoline or fuel oil as light crude oil.
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Sweet light crude oil yields the most gallons of gasoline per barrel of oil and since it has low viscosity and low density, it is comparatively inexpensive to pump, transport, and refine.
This will help Exxon maintain its production momentum in light of low natural gas prices and high crude oil prices.
Further the number of gallons of gasoline produced per barrel heavy crude oil is lower than for light crude oils.
Without any intervention from politicians or environmentalists societies that progress have been using m ore fuels that have less carbon with higher energy density (1 kg of wood fuels a light bulb for 1 day, 1 kg of coal fuels a light bulb for 4 days, 1 kg of crude oil for 5 days, 1kg of methane for 6 days and 1 kg of uranium for over 140 years).
Oil prices dropped in Asia, with US light crude down by 1.9%, and Brent crude sliding 1.6%.
Competition will be tough: tariffs on the new pipeline are ten times lower than for the line through Chechnya, and the crude oil received at Supsa, known as Azeri Light, is of higher quality than Russia's Urals Blend that flows via Novorossiisk.
Rockefeller, for instance, revolutionized the refining of crude oil into kerosene, enabling Americans to cheaply and safely light their homes at night.
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World crude oil production has in some cases already peaked (sweet, light) while others (heavy, sour) it has yet to be will soon.
Light sweet crude is depleting quickly, and now the industry is going after heavy crude and tar sands and thermally enhanced oil.
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