CRUDES
Crude oil occurs naturally in underground rock formations. Extraction can be complicated and occurs both on and off shore. Crude oil needs to be refined for petroleum products like gasoline. Depending on the source, crude is labeled by its viscosity (light and heavy), and sulfur content (sweet or sour). Popular crude oil deliverable grades are West Texas Intermediate, U.K. Brent, Norwegian Oseberg Blend and others. 1WEC sells all crudes. The crude oils that 1WEC sells are mostly high-quality grades of medium to high API, with a low sulphur content. Here, we provide details of the crude and condensate qualities that we sell. For each crude oil type, there is a commercial assay based on a representative sample of the crude.
The contents of the assays in this section are for guidance only and 1WEC accepts no liability for any loss occurring from the use of these assays and errors that they may contain.
A crude oil assay is essentially the chemical evaluation of crude oil feedstocks by petroleum testing laboratories. Each crude oil type has unique molecular, chemical characteristics. No crude oil type is identical and there are crucial differences in crude oil quality. The results of crude oil assay testing provide extensive detailed hydrocarbon analysis data for refiners, oil traders and producers. (Source: Wikipedia)
Crude oil generally has no inherent value typically without being processed into usable products. But why? The purpose of the petroleum refining industry is to convert feedstocks including raw crude oil into usable specification products. More specifically, the value of a particular crude to a refiner depends on its quality and whether this refiner can economically obtain a satisfactory product pattern that matches market demand.
Petroleum refiners determine the products they will make with the goal of maximizing profits based on the supply and cost of various types of available crude oils. Refinery configuration is essential in determining the suitability of crude oils for a given refinery. Additionally, the examination or characterization of crude oil is also a vital element in refinery planning, operations, and capital project decisions.
Crude oil assays provide a combination of physical and chemical data that uniquely describe or characterize a crude oil and allow for the evaluation of quality parameters. Likewise, the assay provides valuable information that is utilized to assess refining characteristics and is used in various Linear Program (LP)modeling and optimization tools.
Overall, crude oil assay provides the refiner with the data needed to make informed decisions in the areas of crude selection, scheduling and planning. It is also a valuable tool that aids in the optimization of various refining processes.