Every crude petroleum source material can produce so many gallons of gasoline and other distillates per barrel.
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Indeed, the Anglo-Dutch multinational announced today that it had inked an agreement to acquire Koch Materials China , which is involved in the manufacture and marketing of bitumen--that black viscous residue taken from the distillation of crude petroleum--in the country.
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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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.
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.
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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The U.S. will release 30 million barrels of light sweet crude from its Strategic Petroleum Reserve over next 30 days.
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Place a tariff on imported crude oil and finished petroleum products.
Just such an event seems to have occurred in May, with the passage of a bill to halt deliveries of crude oil to the Strategic Petroleum Reserve.
He wanted the contract to carry Reliance Petroleum's crude oil, but the billionaire controlling owner Mukesh Ambani told him that the railways were just too expensive and he was using the pipelines of his competitors at a 10% discount on IR's price.
With the right technology, it can also be converted into a form of petroleum known as synthetic crude.
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.
Department of Energy is approving loans from the Strategic Petroleum Reserve to limit disruptions in crude supplies for refineries.
Further upside risks have stemmed from high international crude prices, their impact on freely priced petroleum products, the increase in administered coal prices and pick-up in non-food manufactured product prices.
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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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The Strategic Petroleum Reserve was authorized in 1975 and began receiving crude oil in 1977.
According to estimates from the Norwegian Petroleum Directorate, more than half of the available crude oil may be left underground if steps are not taken to enhance recovery from existing fields.
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Crude oil futures rose following news that members of the Organization of the Petroleum Exporting Countries are discussing holding a special meeting to address the recent steep decline in oil prices.
Gas prices have risen about twice as much as crude oil prices, says Ronald Gold, who works with Lichtblau at the Petroleum Industry Research Foundation.
By comparison, the U.S. currently has the largest emergency petroleum supply in the world, stockpiling about 570 million barrels of crude oil at four sites located along the Gulf of Mexico.
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 pipeline is transporting crude oil from Greece to a refinery at Skopje, which was bought in 1999 by Hellenic Petroleum, the Greek state oil company.
According to the Australian Petroleum Institute, the price of petrol "has largely been driven by rising international crude oil costs and the falling value of the Australian dollar".
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.
The American Petroleum Institute has announced that for the week ending April 15th, US combined stocks of crude, gasoline and distillates fell by 4.53 million barrels.
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The Organization of Petroleum Exporting Countries (OPEC) also warned that it could not replace the shortfall in crude if Iran was attacked and its supply taken off the market.
Meantime, crude oil prices were lower Monday on worries the U.S. government may tap its Strategic Petroleum Reserves due to a hurricane shutting in production in the Gulf of Mexico.
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