Refiners want more pipeline to keep down the cost of transporting oil by truck or rail. Service companies want more pipeline because they make money in the design and laying stages, and get a steady income from maintenance and testing.
Oil refineries can be dangerous places to work at times. For example, in there was an accident at BP's Texas City oil refinery.
Chemical Safety Board, a series of explosions occurred during the restarting of a hydrocarbon isomerization unit. Fifteen workers were killed and others were injured. The explosions occurred when a distillation tower flooded with hydrocarbons and was over-pressurized, causing a geyser-like release from the vent stack. Energy Information Administration. Chemical Safety Board. Actively scan device characteristics for identification.
Use precise geolocation data. Select personalised content. Create a personalised content profile. Measure ad performance. Select basic ads. Create a personalised ads profile. Select personalised ads. Apply market research to generate audience insights. Measure content performance. Develop and improve products. List of Partners vendors. Your Money. Personal Finance.
Your Practice. Popular Courses. Commodities Oil. Oil Guide to Investing in Oil Markets. What Is an Oil Refinery? Key Takeaways An oil refinery is a facility that takes crude oil and distills it into various useful petroleum products such as gasoline, kerosene or jet fuel.
Refining is classified as a downstream operation of the oil and gas industry, although many integrated oil companies will operate both extraction and refining services. Refineries and oil traders look to the crack spread — the relative difference in production cost and market price — of various petroleum products in the derivatives market to hedge their exposure to crude oil prices.
Article Sources. To date, that has been far enough away to not shake the confidence of the bulls, particularly since tame bond yields have not created much competition for stocks.
Normally, the bond market reacts more quickly to economic data than the Federal Reserve. But that is only occurring to a limited extent this time around, at least in part because of a large number of buyers for yields of any substance.
Yields in a number of markets in Europe and Asia are lower than stateside, or even negative. Inflation could still dampen returns for stocks if bond yields start climbing steadily. Real wages adjusted for inflation have also slipped lately, making it tougher for consumers to buy more of anything.
Overall, the bull market is clearly intact as the economic recovery continues. Also in Energy and the environment explained Energy and the environment Greenhouse gases Greenhouse gases and the climate Where greenhouse gases come from Outlook for future emissions Recycling and energy. Nonrenewable sources. Oil and petroleum products. Diesel fuel. Heating oil. Also in Oil and petroleum products explained Oil and petroleum products Refining crude oil Where our oil comes from Imports and exports Offshore oil and gas Use of oil Prices and outlook Oil and the environment.
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Renewable sources. Renewable energy. Biofuels: Ethanol and Biomass-based diesel. Also in Hydropower explained Hydropower Where hydropower is generated Hydropower and the environment Tidal power Wave power Ocean thermal energy conversion.
Also in Biofuels explained Biofuels Ethanol Use and supply of ethanol Ethanol and the environment Biomass-based diesel fuels Use of biomass-based diesel fuel Biomass-based diesel and the environment. Also in Wind explained Wind Electricity generation from wind Where wind power is harnessed Types of wind turbines History of wind power Wind energy and the environment.
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