As a sometime oil trader I would note that although you have the basics right some of the detail needs elaboration. I found the PQ answer relating to oil imports in 1959/60 which shows and largest supplier then was Kuwait, with Venezuela, Iran and Iraq being other significant crude suppliers - all sources of sour crude. Libya (and Nigeria) isn't even listed. AFAIK the only refinery to major on running Libyan oil was Conoco Killingholme, where the highly specialised petroleum coke production of needle coke used for making carbon nodes for aluminium smelting requires very low sulphur crudes.
Other important oil sources are places with big refineries. Supply and demand for oil products are balanced by trading in blending components and finished products.
The reality is that the nature of oil demand has changed over the decades. We no longer burn fuel oil in power stations and industrial boilers, although we did on a huge scale during the miners' strike in 1984. That event meant that refineries were once again maximising output of heavy gunge, and had little use for the light North Sea oil being produced, so it was exported: the foundation that built the Brent oil market.
There were no new additions to distillation capacity after the OPEC crises of the 1970s, however there was a lot of investment in upgrading capacity that turned the heavy fractions into petrol components, and later techniques allowed an increase of diesel production after diesel became the dominant motor fuel. A gradual tightening of sulphur limits in oil products also led to extensive investment in hydro desulpurisation and ways to produce the hydrogen that used. There is a trade off between investment in such plant and using lower sulphur crude inputs. The particularly exacting standards that came from the EU made lower sulphur crude more economic for our refineries where the investment had been based on sweeter North Sea crudes and sligtly less demanding specifications. We still use a lot of sweet Norwegian oil, even as the UKCS has seen its production become increasingly sour.
The Buzzard field produces sour crude oil which is initially processed at the Buzzard complex. The oil produced in Buzzard field is transported through the Ineos-operated Forties Pipeline System (FPS) to the Kinneil terminal, Grangemouth, Scotland, while the gas output is pumped through the Frigg system to the St Fergus Gas Terminal, Scotland.
Hi - Cambo won't be heavy, rather similar to Lancaster. Light but non-standard. Which somewhat destroys your UK refinery argument.
I've (sic) produced millions of bbls of UK crude and never sold a bbl to the UK
And if you want to get nerdy; most of these bbls were not produced for tax purposes in the UK - when we drill a well consumables are exported beyond the 12 mile line. If unused brought back to a bonded warehouse...
As a sometime oil trader I would note that although you have the basics right some of the detail needs elaboration. I found the PQ answer relating to oil imports in 1959/60 which shows and largest supplier then was Kuwait, with Venezuela, Iran and Iraq being other significant crude suppliers - all sources of sour crude. Libya (and Nigeria) isn't even listed. AFAIK the only refinery to major on running Libyan oil was Conoco Killingholme, where the highly specialised petroleum coke production of needle coke used for making carbon nodes for aluminium smelting requires very low sulphur crudes.
https://api.parliament.uk/historic-hansard/commons/1961/jun/08/oil-imports
Other important oil sources are places with big refineries. Supply and demand for oil products are balanced by trading in blending components and finished products.
The reality is that the nature of oil demand has changed over the decades. We no longer burn fuel oil in power stations and industrial boilers, although we did on a huge scale during the miners' strike in 1984. That event meant that refineries were once again maximising output of heavy gunge, and had little use for the light North Sea oil being produced, so it was exported: the foundation that built the Brent oil market.
There were no new additions to distillation capacity after the OPEC crises of the 1970s, however there was a lot of investment in upgrading capacity that turned the heavy fractions into petrol components, and later techniques allowed an increase of diesel production after diesel became the dominant motor fuel. A gradual tightening of sulphur limits in oil products also led to extensive investment in hydro desulpurisation and ways to produce the hydrogen that used. There is a trade off between investment in such plant and using lower sulphur crude inputs. The particularly exacting standards that came from the EU made lower sulphur crude more economic for our refineries where the investment had been based on sweeter North Sea crudes and sligtly less demanding specifications. We still use a lot of sweet Norwegian oil, even as the UKCS has seen its production become increasingly sour.
The Buzzard field produces sour crude oil which is initially processed at the Buzzard complex. The oil produced in Buzzard field is transported through the Ineos-operated Forties Pipeline System (FPS) to the Kinneil terminal, Grangemouth, Scotland, while the gas output is pumped through the Frigg system to the St Fergus Gas Terminal, Scotland.
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Very interesting look beyond the headlines of UK oil production. Thank you
Hi - Cambo won't be heavy, rather similar to Lancaster. Light but non-standard. Which somewhat destroys your UK refinery argument.
I've (sic) produced millions of bbls of UK crude and never sold a bbl to the UK
And if you want to get nerdy; most of these bbls were not produced for tax purposes in the UK - when we drill a well consumables are exported beyond the 12 mile line. If unused brought back to a bonded warehouse...
Still pay tax to the Exchequer
great piece. have to say i'm still left a little unsure on what a 'mature declining basin' really is. but seriously, really enjoy your work, thank you