I haven't been able to find the answer to this question anywhere else so if anyone knows the answer....
How many litres (or gallons) of oil are there in a barrel of oil?
Also from that barrel of oil, how many litres (or gallons) of fuel make it to a service station?
How big is a barrel of oil?
Started by
etoipi
, May 24 2006 12:19
14 replies to this topic
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#2
phantom II
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Posted 24 May 2006 - 12:43
from the latest Autoweek.
Out of a Barrel
With crude oil selling at more than $70 for a 42-gallon barrel, it’s good for the petroleum industry that it can extract even more in commercial products at the output end of the refinery—nearly 45 gallons according to the American Petroleum Institute’s 2004 figures.
Funny business? No, just “processing gain,” by which the lighter, less-dense fractions occupy more volume than does crude. Mass is conserved, just like they taught you in chemistry and physics class, but gallons measure volume, not mass—as when making popcorn or ice, the volume expands without changing the mass.
At $3.75 per gallon, consideration swings to owning fuel-efficient cars like the Toyota Prius hybrid.
There are trace amounts of additives used in processing; the volumes reported in our graphic are before detergents and octane enhancers such as lead, MTBE or ethanol. Note the industry has some flexibility—in winter months, for instance, refinery output tilts toward home heating oil, in summer toward gasoline for vacationers, but the percentage change is minor.
Finally, don’t rush to your calculators: Firstly, anything that doesn’t add up exactly is due to rounding of the numerous components; secondly, at $75/barrel, the proportions here work out to $1.66/gallon and diesel at $1.68. That’s the cost for the raw material before taxes (federal is 18.4 cents per gallon on gasoline, close to 24 cents on diesel, plus your state and local taxes), transportation costs, storage, those additives, etc. And before profit margins, of course.
Oil's Future
For more on the state of gas and oil in the world today, check out:
www.eia.doe.gov
http://api-ec.api.org/frontpage.cfm
www.gaspricewatch.com/usgastaxes.asp
Out of a Barrel
With crude oil selling at more than $70 for a 42-gallon barrel, it’s good for the petroleum industry that it can extract even more in commercial products at the output end of the refinery—nearly 45 gallons according to the American Petroleum Institute’s 2004 figures.
Funny business? No, just “processing gain,” by which the lighter, less-dense fractions occupy more volume than does crude. Mass is conserved, just like they taught you in chemistry and physics class, but gallons measure volume, not mass—as when making popcorn or ice, the volume expands without changing the mass.
At $3.75 per gallon, consideration swings to owning fuel-efficient cars like the Toyota Prius hybrid.
There are trace amounts of additives used in processing; the volumes reported in our graphic are before detergents and octane enhancers such as lead, MTBE or ethanol. Note the industry has some flexibility—in winter months, for instance, refinery output tilts toward home heating oil, in summer toward gasoline for vacationers, but the percentage change is minor.
Finally, don’t rush to your calculators: Firstly, anything that doesn’t add up exactly is due to rounding of the numerous components; secondly, at $75/barrel, the proportions here work out to $1.66/gallon and diesel at $1.68. That’s the cost for the raw material before taxes (federal is 18.4 cents per gallon on gasoline, close to 24 cents on diesel, plus your state and local taxes), transportation costs, storage, those additives, etc. And before profit margins, of course.
Oil's Future
For more on the state of gas and oil in the world today, check out:
www.eia.doe.gov
http://api-ec.api.org/frontpage.cfm
www.gaspricewatch.com/usgastaxes.asp
Originally posted by etoipi
I haven't been able to find the answer to this question anywhere else so if anyone knows the answer....
How many litres (or gallons) of oil are there in a barrel of oil?
Also from that barrel of oil, how many litres (or gallons) of fuel make it to a service station?
#3
soubriquet
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Posted 24 May 2006 - 13:52
Barrel (petroleum) US: 42 gallons US (158.98284 litres)
#4
Andy Donovan
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Posted 24 May 2006 - 16:03
Originally posted by phantom II
At $3.75 per gallon, consideration swings to owning fuel-efficient cars like the Toyota Prius hybrid.
At $7 per gallon in the UK it certainly does.
#5
Halfwitt
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Posted 24 May 2006 - 21:04
Well, the standard name for what you call an oil barrel has always been (for as long as I can remember) a "45 gallon drum". Whether or not it contains 45 gallons I've no idea, and whether they are real gallons or US gallons I don't know either.
As for the Prius, petrol will have to become a lot dearer than four-and-a-half pounds a gallon (proper UK gallons) before I'd consider one.
As for the Prius, petrol will have to become a lot dearer than four-and-a-half pounds a gallon (proper UK gallons) before I'd consider one.
#6
Greg Locock
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Posted 24 May 2006 - 22:26
Andy Well, if fuel becomes sufficiently expensive you'd be mad to consider a Prius. An Audi A2 comfortably beats it for feul economy, and a VW Jetta diesel is at least equivalent whilst being an improvement in almost all aspects other than smugness and gee whiz technology.
I actually like the (30 year old) technology in the Prius, but it's implementation has far more to do with marketng than engineering.
I actually like the (30 year old) technology in the Prius, but it's implementation has far more to do with marketng than engineering.
#7
Bill Sherwood
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Posted 25 May 2006 - 03:07
Originally posted by Halfwitt
Well, the standard name for what you call an oil barrel has always been (for as long as I can remember) a "45 gallon drum". Whether or not it contains 45 gallons I've no idea, and whether they are real gallons or US gallons I don't know either.
I think you mean the 44 gallon or 200 litre drum that's common with 'the public'. But as mentioned above the oil industry uses a smallerr 158 litre or thereabouts sized drum.
#8
kukari
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Posted 25 May 2006 - 20:42
Originally posted by Greg Locock
Andy Well, if fuel becomes sufficiently expensive you'd be mad to consider a Prius. An Audi A2 comfortably beats it for feul economy, and a VW Jetta diesel is at least equivalent whilst being an improvement in almost all aspects other than smugness and gee whiz technology.
I actually like the (30 year old) technology in the Prius, but it's implementation has far more to do with marketng than engineering.
I must say that you took words from my mouth. You are 100% correct on every word, IMHO.
#9
Andy Donovan
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Posted 26 May 2006 - 09:38
In my defence, I wouldn't buy a Prius either (I was more making the point about how odd it seems to Brits when Americans complain about petrol prices when we pay twice as much as them).
A well argued point against the Prius though Greg - another example of people going for things that sound environmentally friendly without stopping to wonder if they actually are or not. Plus it's an ugly car ;)
A well argued point against the Prius though Greg - another example of people going for things that sound environmentally friendly without stopping to wonder if they actually are or not. Plus it's an ugly car ;)
#10
Catalina Park
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Posted 26 May 2006 - 09:56
A mate of mine works for a fleet company. They have a Prius that has just come off lease and the batteries are stuffed and need replacing. The cost of the replacement batteries is about half of the second hand value of the three year old Prius! 
So the Prius works out very expensive if you keep it long enough to need new batteries.
So the Prius works out very expensive if you keep it long enough to need new batteries.
#11
daFt
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Posted 26 May 2006 - 14:12
Originally posted by Greg Locock
Andy Well, if fuel becomes sufficiently expensive you'd be mad to consider a Prius. An Audi A2 comfortably beats it for feul economy, and a VW Jetta diesel is at least equivalent whilst being an improvement in almost all aspects other than smugness and gee whiz technology.
I actually like the (30 year old) technology in the Prius, but it's implementation has far more to do with marketng than engineering.
I'm mearly speculating here since this is a bit of a guess, but wouldn't the Prius be more environmentally friendly in terms of emissions especially compared to a VW TDI regardless of it's fuel economy? I think sometimes the big picture is missed, although the cost is higher the immediate environmental impact is important too (provided we neglect the battery disposal). On it's own a Prius isn't all that impressive but convince a large city to convert it's taxi fleet to them and, I would hope, suddenly smog is reduced or at least there is a measurable decrease in green house gases in the city's vicinity.
I think I've just opened a BIG can of worms.....
daFt
#12
Andy Donovan
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Posted 26 May 2006 - 15:42
Originally posted by daFt
...the immediate environmental impact is important too (provided we neglect the battery disposal).
It is important, but not at the expense of the long term. Making and disposing of batteries is an expensive and tricky business - you need a good reason to use them, and the Prius isn't better by a big enough margin.
People often forget about what it costs environmentally to actually make things. A good (but unrelated) example is solar panels - people see them sitting there soaking up the sun and assume they're as green as things get, but forget the range of nasty chemicals and large amounts of power it takes to make them in the first place.
And yes, you have without a doubt opened a big can of worms. I've probably not helped either.
#13
Greg Locock
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Posted 27 May 2006 - 03:49
daFT, I think you are right about emissions, although modern diesels are pretty good. Unfortunately, from a fuel consumption point of view, in the next few years you are going to see some really ridiculous and expensive emissions gear fitted to diesels.
#14
Andy Donovan
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Posted 27 May 2006 - 16:12
Originally posted by Greg Locock
daFT, I think you are right about emissions, although modern diesels are pretty good. Unfortunately, from a fuel consumption point of view, in the next few years you are going to see some really ridiculous and expensive emissions gear fitted to diesels.
Apparently when Dyson first made his cyclone hoover, they thought of building it into a diesel exhaust to collect the particulates. Unfortuantely, it worked too well and collected a cup full of crap within one day which was classed as highly toxic so was hideously expensive to dispose of.
#15
Ivan
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Posted 28 May 2006 - 21:52
Oil could top $105 in major supply outage: expert
Sunday May 28, 11:50 AM EDT
By Haitham Haddadin
KUWAIT (Reuters) - A Goldman Sachs (GS) projection that oil prices could top $100 a barrel in the event of a major supply disruption could be conservative in the current tight market, said a senior executive with the investment bank.
Other energy experts told an energy forum late on Saturday in Kuwait that global oil market fundamentals point to generally higher energy prices as demand growth outstrips new supply.
"We thought that maybe somewhere within $50 to $70 (oil price) we might get the economic damage and that it would take a major, not a minor, disruption to get to the $105 number," said Arjun Murti, Managing Director at Goldman Sachs.
"If we truly did have a major outage in a major exporting country then $105 will prove conservative," Murti added at the National Bank of Kuwait energy forum.
Murti said when Goldman Sachs issued a projected range of $50 to $105 a barrel in March 2005, actual prices hovered around $55 a barrel. Oil prices in New York and London traded above $70 Friday.
Katherine Spector, head of energy research for JP Morgan Securities, said market fundamentals point to petroleum prices reverting to a higher mean in coming years. "The world is running out of easy barrels of crude production," she said, adding that marginal costs of production are rising.
Both Spector and Murti said one factor that the oil markets will remain focused on for the rest of this year would be the U.S. hurricane season after Katrina caused big disruptions last year to refining capacity on the U.S. Gulf Coast.
Hurricanes Katrina and Rita had shown "energy markets are highly susceptible to a supply shock," Murti noted.
Spector said another severe hurricane season predicted for this year was bullish for oil and products prices as are changes to U.S. diesel and gasoline specifications this year. But she said among factors that are bearish for the market are relatively comfortable global oil inventories.
ASIAN DEMAND
Other delegates told the forum that global oil market fundamentals pointed to the possibility of higher prices given that global oil demand is robust and tends to grow every year, especially due to firm demand from China and India.
Edward Morse, executive adviser with Hess Energy Trading Co., said that between 1965 and 2004, total Asian oil demand has risen 620 percent while world oil demand was up by 158 percent.
"Asian energy demand growth, especially oil demand, has been truly extraordinary," Morse said, adding that most analysts believe incremental Asian demand growth drives the market.
On the supply side, spare capacity is gone, traditional areas of oil production are mature and areas with growth are geopolitically or demographically challenged, Murti noted.
"We believe that oil markets are in the early stages of what we are calling a multi-year 'super-spike' period," Murti added.
Murti said total non-OPEC crude supply has grown in recent years mostly due to Russia, but excluding Russia the supply from producers that are outside the Organization of Petroleum Exporting Countries has been essentially flat in recent years.
"Effective production capacity -- that what actually can come out of the ground today -- is pretty close to zero," he said. "Our point is not that the OPEC countries are running out of oil. But the question is, are we to believe that real-time production capacity is going to grow, year in and year out, to match economic growth?."
Sunday May 28, 11:50 AM EDT
By Haitham Haddadin
KUWAIT (Reuters) - A Goldman Sachs (GS) projection that oil prices could top $100 a barrel in the event of a major supply disruption could be conservative in the current tight market, said a senior executive with the investment bank.
Other energy experts told an energy forum late on Saturday in Kuwait that global oil market fundamentals point to generally higher energy prices as demand growth outstrips new supply.
"We thought that maybe somewhere within $50 to $70 (oil price) we might get the economic damage and that it would take a major, not a minor, disruption to get to the $105 number," said Arjun Murti, Managing Director at Goldman Sachs.
"If we truly did have a major outage in a major exporting country then $105 will prove conservative," Murti added at the National Bank of Kuwait energy forum.
Murti said when Goldman Sachs issued a projected range of $50 to $105 a barrel in March 2005, actual prices hovered around $55 a barrel. Oil prices in New York and London traded above $70 Friday.
Katherine Spector, head of energy research for JP Morgan Securities, said market fundamentals point to petroleum prices reverting to a higher mean in coming years. "The world is running out of easy barrels of crude production," she said, adding that marginal costs of production are rising.
Both Spector and Murti said one factor that the oil markets will remain focused on for the rest of this year would be the U.S. hurricane season after Katrina caused big disruptions last year to refining capacity on the U.S. Gulf Coast.
Hurricanes Katrina and Rita had shown "energy markets are highly susceptible to a supply shock," Murti noted.
Spector said another severe hurricane season predicted for this year was bullish for oil and products prices as are changes to U.S. diesel and gasoline specifications this year. But she said among factors that are bearish for the market are relatively comfortable global oil inventories.
ASIAN DEMAND
Other delegates told the forum that global oil market fundamentals pointed to the possibility of higher prices given that global oil demand is robust and tends to grow every year, especially due to firm demand from China and India.
Edward Morse, executive adviser with Hess Energy Trading Co., said that between 1965 and 2004, total Asian oil demand has risen 620 percent while world oil demand was up by 158 percent.
"Asian energy demand growth, especially oil demand, has been truly extraordinary," Morse said, adding that most analysts believe incremental Asian demand growth drives the market.
On the supply side, spare capacity is gone, traditional areas of oil production are mature and areas with growth are geopolitically or demographically challenged, Murti noted.
"We believe that oil markets are in the early stages of what we are calling a multi-year 'super-spike' period," Murti added.
Murti said total non-OPEC crude supply has grown in recent years mostly due to Russia, but excluding Russia the supply from producers that are outside the Organization of Petroleum Exporting Countries has been essentially flat in recent years.
"Effective production capacity -- that what actually can come out of the ground today -- is pretty close to zero," he said. "Our point is not that the OPEC countries are running out of oil. But the question is, are we to believe that real-time production capacity is going to grow, year in and year out, to match economic growth?."
