Petroleum (also called crude oil), in the unrefined or crude form, like many industrial feedstocks has little or no direct use and its value as an industrial commodity is only realized after the production of salable products. Even then, the market demand dictates the type of products that are needed. Therefore, the value of petroleum is directly related to the yield of products and is subject to the call of the market.
Petroleum refining, also called petroleum processing, is the recovery and/or generation of usable or salable fractions and products from crude oil, either by distillation or by chemical reaction of the crude oil constituents under the effects of heat and pressure. Synthetic crude oil, produced from tar sand (oil sand) bitumen, is also used as feed stocks in some refineries. Heavy oil conversion, as practiced in many refineries, does not fall into the category of synthetic fuels (syncrude) production. In terms of liquid fuels from coal and other carbonaceous feedstocks, such as oil shale, the concept of a synthetic fuels industry has diminished over the past several years as being uneconomical in light of current petroleum prices.
As the basic elements of crude oil, hydrogen and carbon form the main input into a refinery, combining into thousands of individual constituents and the economic recovery of these constituents varies with the individual petroleum according to its particular individual qualities, and the processing facilities of a particular refinery. In general, crude oil, once refined, yields three basic groupings of products that are produced when it is separated into a variety of different generic, but often overlapping fractions. The amounts of these fractions produced by distillation depend on the origin and properties of crude petroleum.
Petroleum (also called crude oil), in the unrefined or crude form, like many industrial feedstocks has little or no direct use and its value as an industrial commodity is only realized after the production of salable products. Even then, the market demand dictates the type of products that are needed. Therefore, the value of petroleum is directly related to the yield of products and is subject to the call of the market.
Petroleum refining, also called petroleum processing, is the recovery and/or generation of usable or salable fractions and products from crude oil, either by distillation or by chemical reaction of the crude oil constituents under the effects of heat and pressure. Synthetic crude oil, produced from tar sand (oil sand) bitumen, is also used as feed stocks in some refineries. Heavy oil conversion, as practiced in many refineries, does not fall into the category of synthetic fuels (syncrude) production. In terms of liquid fuels from coal and other carbonaceous feedstocks, such as oil shale, the concept of a synthetic fuels industry has diminished over the past several years as being uneconomical in light of current petroleum prices.
As the basic elements of crude oil, hydrogen and carbon form the main input into a refinery, combining into thousands of individual constituents and the economic recovery of these constituents varies with the individual petroleum according to its particular individual qualities, and the processing facilities of a particular refinery. In general, crude oil, once refined, yields three basic groupings of products that are produced when it is separated into a variety of different generic, but often overlapping fractions. The amounts of these fractions produced by distillation depend on the origin and properties of crude petroleum.
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