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You need to be a little more specific. Refine the crude into what? Gas, diesel, another oil based product? Also crude oil is typically measure in barrels not weight that being said your figure of 1 million tons is about 6.2 million barrels. To give you a comparative figure 8.9 million barrels are refined on a daily bases.
What else can I help you with?
What is import parity pricing?
It is price paid to buy petroleum from foreign country. It is use to determine the cost of crude. It consists of- 1. Imported cost of crude 2. Ocean freight 3. Custom duty
What did a barrel of oil cost in 1999?
The average cost for a barrel of crude oil in 1999 was: $16.56 (about $21.67 in 2010 dollars).
What was the cost of a barrel of crude oil in 1987?
$17.75 per barrel (about $33.85 in 2010 dollars).
How much it costs to convert crude oil to petrol?
In a simple illustration, let's assume an oil company is paying $100 for a barrel (42 gallons) of basic crude oil. Their cost for a gallon will be about $2.38. At a gasoline-pump price of $4.00 per gallon. so, result comes as cost of converting one gallon crude oil is $1.62 (4.00-2.38=1.62).
How much does crude oil cost?
This is much in the news and seems to increase every week. At present about $135 per barrel
Why is heavy crude oil cheaper then light crude oil?
Heavy crude oil is typically cheaper than light crude oil because it requires more processing to remove impurities and make it usable. This additional processing increases the overall cost of production, which is then reflected in the price of heavy crude oil compared to light crude oil. Additionally, heavy crude oil tends to have higher sulphur content, which can further increase the cost of refining.
How much does an oil refinery cost to build?
two to four billion, depending on..... Actually, the answer is a lot like "how high is up?" Crude oil comes in many forms, with the chief variables being how heavy the crude is (larger molecules are more dense), how much sulfur it contains, how acidic it is, and what other contaminants (e.g. - metals) come along for the ride. On top of that, the products that a refinery produces are also many, including LPG, butane, gasoline (in various forms - multiple octane grades, lower vapor pressure gasoline is required by regulation in the summer months; sulfur standards vary, etc.), diesel fuel (again, in multiple forms), jet fuel, military spec jet fuel, asphalt, coke, and others. To know what it will cost to build a refinery, one has to specify what types of crude it will start with, and what products it is designed to produce, and what the level of throughput will be. It takes a lot more processing, for example, to convert heavy, sour, high-acid Canadian tar sands crude into saleable products than it does to convert light sweet West Texas crude, and therefore the cost of a refinery to do that will be a lot higher. Once the infrastructure is in place (real estate, maintenance suppliers, pipelines, employees, etc.), it is far more efficient to modify an existing refinery than to build a new one from scratch. The last oil refinery built in the US was started in the 1970's, though there are rumors of new ones popping up to handle the boom in wet shale gas. Since that time, expansion of total refining capacity has come at existing refineries, even as most of the smaller ones (e.g. - less than 100,000 barrel/day throughput) have shut down. Therefore, calculating the cost of a new refinery is mostly an exercise in fantasizing. Delta Airlines recently (April, 2012) announced that it was buying a closed 185,000 bbl/day Phillips refinery in the Philadelphia area for $180 million, and will spend $100 million to get it back up and running. (The deal is designed to help Delta control the cost of its jet fuel.) They value the asset at $1 billion. For comparison, the BP refinery in Whiting, Indiana is in the process of being upgraded to handle more Canadian tar sands crude. That 405,000 bbl/day refinery has announced it is spending $4 billion to increase its capacity for Canadian crude from 80,000/day to 350,000 bbl/day, with startup of the new units targeted for 2013. Total throughput is not changing, according to the press information. Rather, they are changing the types of crude that can be processed at the plant. So the answer to the question is: "How much do you want to spend??"
What is gross refining margin GRM?
One way to represent the economics of a refinery is to calculate its Refinery Gross Margin. GRM is the difference between crude oil price and total value of petroleum products produced by the refinery.The difference in dollars per barrel between its product revenue (sum of barrels of each product multiplied by the price of each product) and the cost of raw materials (primarily crude, but also purchased additives like butane and ethanol). For example, if a refinery receives $80 from the sale of the products refined from a barrel of crude oil that costs $70/bbl, then the Refinery Gross Margin is $10/bbl. The Net or Cash Margin is equal to the gross margin minus the operating costs (excluding income taxes, depreciation and financial charges). Continuing the example, if a refinery experiences operating costs of $2 per barrel, then the Net Margin is $8/bbl.The second point which determines the GRM of a refinery is its Nelson Complexity. Higher Nelson Complexity of a refinery enables it to process sour crude which gives a better GRM, due to price differential of crude between sweet crude and sour crude. Sweet and sour depend on sulphur content of crude oil and sweet has less than 0.5 per cent sulphur while sour crude has more than 0.5 per cent.Higher the GRM's higher the Profit Yields.The factors that have contributed to high GRMs areCost of sourcing crude oilManufacturing reliability and efficiencyAbility to produce quality transportation fuelsFlexibility of crude oil receipt and product evacuation infrastructureDemand - Supply mismatch of the productsThe duty structure for crude & petroleum products Crude Mix (API & Sulfur) processed in the refinery depends on Refinery Complexity i.e. Nelson Complexity Fuel & Losses incurred in the production process. The standalone domestic oil refineries are paid import parity price, which is the international price of the product plus insurance, freight and custom duty. So, higher custom duty on product would result in higher GRM.
How do you get petrol out from under the ground?
first find crude oil, distill it into the three different substances (oil, gas, diesel). It cost about 10 million dollars
What is the cost of oil?
The cost of crude oil would be about $108.50.
How much would an oil tanker cost?
The cost of an oil tanker can vary significantly based on its size, type, and age. As of recent estimates, a new Very Large Crude Carrier (VLCC), which can hold about 2 million barrels of oil, can range from $80 million to $120 million. Smaller tankers, such as Product Carriers, may cost anywhere from $30 million to $60 million. Additionally, market conditions and regulations can also influence prices.
How much gasoline can be made from one barrel of oil?
1 barrel of crude oil = 42 US gallons (159 liters or 35 imperial gallons). It produces from about 35 percent to 42 percent of gasoline or petrol, plus many other products such as kerosene, etc.More detail:The yield of gasoline from crude oil depends upon the quality of the crude oil ("Crude Type"), and the amount and type of processing at the refinery. So called "light" crude yields usually more gasoline per barrel than "heavy" crude, for a given amount of refinery processing. That a crude is "sweet" refers to sulphur content, - sweet makes it low sulphur and sour high sulphur, and a "package" to remove sulphur is called a "Crude Sweetener". Producing gasoline involves two steps in the refinery, beside post-processing. First is the distillation of the gasoline stream from the crude, and then the refomation of this to "hike it up". The final refomation is to adjust to the actual "Octane" numbers and add ingredients to make it suited for cars - such as lead in old days, now various alcohols and glycol to achieve the same.More extensive processing -- cracking, reformation, etc. -- can greatly improve yields, but of course, at the cost of the increased processing. Overall, refineries in the USA are yielding about 49% gasoline (20.5 gallons) from the mix of crudes they process (2004 data).Actually, a barrel of oil is 42 gallons. When the barrel is processed, you may get something like 15 gallons of gasoline, 9 gal. of fuel oil (See Gasoil / D2), 10 gal. of jet fuel (Kerosene) and 4 gal of other "heavy" products such as lubricants, grease, asphalt / bitumene and plastics and 4 gallons of lighter condensates/naphtha.In energy equivalents, 1 barrel=42 u.s. gallons of oil is estimated to be around 19.5 u.s. gallons of gas (natural gas).Not disputing the answer at all, but if crude is now $80 per barrel, this should make gasoline nearly $1,90 per gallon, and this without refining and transport costs and assumes that the other cuts of the crude can be sold to the same price!Depending on where you are the response varies. When oil is refined, there are number of products that will result from the refining process, including gas, diesel, and other products. Depending on the "feedstock" of the refinery and what production goals were in mind in constructing the refinery, the output of gasoline, diesel, and other products varies. For example, in the US, the refineries are aimed at maximum output of gasoline, so the crude types that are used produce about 2 liters of oil to process about 1 liter of gasoline. Change this, say use Canadian tar sand instead - and you will need 4 times the quantity of crude for the same amount of gasoline. In EU however, more crude types are used, and the gasoline cut differs, i.e. 1.5 to 3.0 liters. That a refinery process heavy crude will usually result in a good supply to the chemical industry of complex hydro-carbons that can be used to make e.g. Kevlar, resins for glue and fiberglass, and advance plastics. These plants will pay well for the chemicals, so operating a refinery is managing a complex equation. You may have a good agreement for producing the complex chemicals, there is a good market with a predicable price for gasoline, heating oil and jetfuel / kerosene - while the residue, huge amounts of bitumen or tar can only be sold at a low price as road and roof covering.AnswerIn a barrel (42gal) of crude you need to divide it into separate parts. These parts are roughly: Naphta and other condensates that are liquid. 2galKerosene, where most is jet-fuel 4galUnleaded gasoline 20galDiesel fuel and heating/furnace oil 10galEngine oil .5galGear oil .5galGrease .5galTar/asphalt 1galSo in a barrel of crude you can see that a small percentage actually becomes gasoline
If a copper refinery does not bear the entire cost of the smoke it emits it will what?
If a copper refinery does not bear the entire cost of the smoke it emits, it will likely produce more pollution than is socially optimal. This situation can lead to negative externalities, where the health and environmental impacts are borne by the community rather than the refinery itself. As a result, the refinery may prioritize profit over environmental responsibility, exacerbating air quality issues and harming public health. Ultimately, this can lead to regulatory interventions or increased pressure for cleaner technologies.
What is import parity pricing?
It is price paid to buy petroleum from foreign country. It is use to determine the cost of crude. It consists of- 1. Imported cost of crude 2. Ocean freight 3. Custom duty
How much gasoline can be made from one barrel of crude oil?
1 barrel of crude oil = 42 US gallons (159 liters or 35 imperial gallons). It produces from about 35 percent to 42 percent of gasoline or petrol, plus many other products such as kerosene, etc.More detail:The yield of gasoline from crude oil depends upon the quality of the crude oil ("Crude Type"), and the amount and type of processing at the refinery. So called "light" crude yields usually more gasoline per barrel than "heavy" crude, for a given amount of refinery processing. That a crude is "sweet" refers to sulphur content, - sweet makes it low sulphur and sour high sulphur, and a "package" to remove sulphur is called a "Crude Sweetener". Producing gasoline involves two steps in the refinery, beside post-processing. First is the distillation of the gasoline stream from the crude, and then the refomation of this to "hike it up". The final refomation is to adjust to the actual "Octane" numbers and add ingredients to make it suited for cars - such as lead in old days, now various alcohols and glycol to achieve the same.More extensive processing -- cracking, reformation, etc. -- can greatly improve yields, but of course, at the cost of the increased processing. Overall, refineries in the USA are yielding about 49% gasoline (20.5 gallons) from the mix of crudes they process (2004 data).Actually, a barrel of oil is 42 gallons. When the barrel is processed, you may get something like 15 gallons of gasoline, 9 gal. of fuel oil (See Gasoil / D2), 10 gal. of jet fuel (Kerosene) and 4 gal of other "heavy" products such as lubricants, grease, asphalt / bitumene and plastics and 4 gallons of lighter condensates/naphtha.In energy equivalents, 1 barrel=42 u.s. gallons of oil is estimated to be around 19.5 u.s. gallons of gas (natural gas).Not disputing the answer at all, but if crude is now $80 per barrel, this should make gasoline nearly $1,90 per gallon, and this without refining and transport costs and assumes that the other cuts of the crude can be sold to the same price!Depending on where you are the response varies. When oil is refined, there are number of products that will result from the refining process, including gas, diesel, and other products. Depending on the "feedstock" of the refinery and what production goals were in mind in constructing the refinery, the output of gasoline, diesel, and other products varies. For example, in the US, the refineries are aimed at maximum output of gasoline, so the crude types that are used produce about 2 liters of oil to process about 1 liter of gasoline. Change this, say use Canadian tar sand instead - and you will need 4 times the quantity of crude for the same amount of gasoline. In EU however, more crude types are used, and the gasoline cut differs, i.e. 1.5 to 3.0 liters. That a refinery process heavy crude will usually result in a good supply to the chemical industry of complex hydro-carbons that can be used to make e.g. Kevlar, resins for glue and fiberglass, and advance plastics. These plants will pay well for the chemicals, so operating a refinery is managing a complex equation. You may have a good agreement for producing the complex chemicals, there is a good market with a predicable price for gasoline, heating oil and jetfuel / kerosene - while the residue, huge amounts of bitumen or tar can only be sold at a low price as road and roof covering.AnswerIn a barrel (42gal) of crude you need to divide it into separate parts. These parts are roughly: Naphta and other condensates that are liquid. 2galKerosene, where most is jet-fuel 4galUnleaded gasoline 20galDiesel fuel and heating/furnace oil 10galEngine oil .5galGear oil .5galGrease .5galTar/asphalt 1galSo in a barrel of crude you can see that a small percentage actually becomes gasoline
How much does it cost for the Saudis to produce one barrel of oil?
According to The Economist magazine ,Oct,6th,2012 , page58: $78 is their cost.
What did a barrel of oil cost in 1999?
The average cost for a barrel of crude oil in 1999 was: $16.56 (about $21.67 in 2010 dollars).
