What is ESPO crude oil?
Eastern Siberia–Pacific Ocean oil pipeline
The Eastern Siberia–Pacific Ocean oil pipeline (ESPO pipeline or ESPOOP, Russian: Нефтепровод “Восточная Сибирь – Тихий океан” (ВСТО)) is a pipeline system for exporting Russian crude oil to the Asia-Pacific markets (Japan, China and Korea). The pipeline is built and operated by Russian pipeline company Transneft.
Where does ESPO crude load?
Oil supplies The pipeline transports crude oil from fields at Tomsk Oblast and the Khanty-Mansi Autonomous Okrug in Western Siberia. The existing Omsk-Irkutsk pipeline also links with the pipeline at Taishet and supplies oil from the provinces of eastern Siberia.
How much is a barrel of Canadian oil?
In August 2021, the average monthly price of the Canadian oil benchmark Western Canadian Select amounted to 54.47 U.S. dollars per barrel.
What is light crude used for?
Light crude has an API gravity greater than 31. West Texas Intermediate (WTI) crude oil, which has an API of about 40, is the North American benchmark for pricing light sweet crude. Light crudes are primarily refined into gasoline, diesel and aviation fuels.
Is there an oil pipeline from Russia to China?
Natural gas deliveries from Russia to China through the Power of Siberia 1 (PoS 1) pipeline have risen sharply, doubling contracted pipeline gas supplies to a rate of 10bn m³/yr (27.4mn m³/d). Deliveries are scheduled to rise to 10bn m³/yr this month, then ramp up to 38bn m³/yr capacity for 20 years from 2025.
What is the difference between light and heavy crude?
Light Crude oil is liquid petroleum that has low density and that flows freely at room temperature. It is referred to as “heavy” because its density or specific gravity is higher than that of light crude oil. Heavy crude oil has been defined as any liquid petroleum with an API gravity less than 20°.
What is the highest quality crude oil?
The higher the sulfur content and the heavier the density, the lower quality the crude oil. A lighter density oil with low sulfur content (like West Texas Intermediate (WTI) from Texas) is the highest quality, which means it sells for more money. Prices can vary significantly based on quality differences.
What country has the longest oil pipeline?
Countries With The Longest Network Of Oil And Gas Pipelines In…
- United States: 2,225,032 km.
- Russia: 259,913 km.
- Canada: 100,000 km.
- China: 86,921 km.
- Ukraine: 45,597 km.
- Argentina: 39,850 km.
- United Kingdom: 39,778 km.
- Iran: 38,906 km.
Where does the ESPO blend of crude oil come from?
The Argus ESPO Blend price assessment reflects market prices for crude sold by Russian producers to Asia-Pacific refiners and international trading firms on a fob Kozmino basis.
Where does the Argus ESPO blend price assessment take place?
The Argus ESPO Blend price assessment is the most transparent price for crude traded in Asia-Pacific, pricing 600,000 b/d of light crude shipped through the East Siberia-Pacific Ocean (ESPO) Pipeline and sold to the east Asian and US west coast markets.
When did the ESPO Oil Pipeline start in Russia?
The first discussions of launching the ESPO pipeline started in the 1970s. Later, in 1996, on the initiative of the Russian president, Boris Yeltsin, Russia and China signed an energy agreement including plans for the ESPO pipeline.
How much did the eastern Siberia oil pipeline cost?
The first stage was built by Systema SpecStroy, Krasnodarstroytransgaz, Vostok Story, Promstroy, Amerco Int. and IP Set Spb. [ sic] Five 16V32 crude oil-fired engines for the pipeline-related power station were delivered in summer 2008 by Wärtsilä. The first stage of the pipeline cost US$12.27 billion and the export terminal cost $1.74 billion.