Discover and read the best of Twitter Threads about #crude_quality_matters

Most recents (5)

Thread on the impact of attacks on #Abqaiq #oil complex in the E. province in Saudi Arabia:
1- It is difficult at this stage to assess the impact of the attacks. While no details, we have to be mindful of the gagging orders & Saudi laws governing reporting, videos, and pictures.
2-Will the attacks lead to lower crude oil exports? We do not know at this stage. Will they lower production? We do not know either. What do we know? Majority of Saudi oil exports goes through Abqaiq facilities.
3-What do we know? Redundancy is common in Saudi oil facilities, especially #Abqaiq. While costly, redundancy helps in case of technical problems or attacks similar to what we have seen today. The existence of backup means the impact on production and exports is limited.
Read 7 tweets
1/13 On oil & oil equity prices:

So why does oil and oil equities underperform the S&P and NASDAQ in 2019 by a wide margin? #OOTT #brent #WTI #oilprice
2/13 As shown by Crescat Capital, this is a growth/ETF/momentum market which left commodities at 50 year relative historical lows! @crescatkevin @TaviCosta
3/13 So how do oil prices format?

Short term, spot prices #trade around inventory levels.

However, it is hard for #Brent and oil equities to go up on declining inventories while demand/macro weakens (macro outlook uncertain). #OOTT #WTI @HFI_Research
Read 13 tweets
1/#IMO2020 is the most significant change to the global refining complex in my lifetime (..however I'm a millennial..sort of) #OOTT
2/#IMO2020 is all about getting rid of ~3.0mln bbls/d of #oil demand and creating ~3.0mln bbls/d of new supply #OOTT
3/#IMO2020 is a play on how confident shippers are (or not) using this new 0.5% blend of marine fuel #oil. Its more of a problem when there is no consensus on what will be gonig into the 0.5% blend. #OOTT
Read 8 tweets
@anasalhajji #Crude_Quality_Matters
1. I wrote a couple of weeks ago the following tweet thread and said i would write one with regard to the heater/reboiler at the bottom and why running more light crude is not the best idea.

2. In a distillation column separation of the products is done by temperature. The temperature at the top is much lower than the temperature at the bottom. This difference causes a temperature curve along the column.
3. Each degree of temp corresponds to a particular composition of liquid/gas. So at particular points along the length of a column an outlet is placed. this is where the composition of the liquid/gas corresponds to a product. The higher in the column the lighter the composition
Read 12 tweets
1. @anasalhajji @HFI_Research @pisgahpartners #Crude_Quality_Matters
Please bear with me this is another long Tweet Thread. This is about IMO and how I think refineries will react. The narrative suggests shale becuase is sweet will be more demanded. I dont think that will happen
2. The standard way of reducing the sulphur levels in your Fuel Oil would be to make the diet of your refineries sweeter, not lighter. You would change the crude that contains the sulphur for one with much lower levels or you blend with a less sulphurous crude.
3. Changing the crude: Now sulphur mostly comes in the medium and Heavy crudes. The problem in changing them for sweeter barrels is that there is not many produced. Medium has some but Heavy have very little.
Read 20 tweets

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