02 Liquid fuels (derived liquid fuels) determining wholesale prices. These results suggest that movements in gasoline prices are largely the result of input price fluctuations rather than local market structure.
model for oil futures
Cortazar, G. and Schwartz, E. S. Energy Economics, 2003, 25, (3), 2 15238. This paper develops a parsimonious three-factor model of the term structure of oil futures prices that can be easily estimated from available futures price data. In addition, it proposes a new simple spreadsheet implementation procedure. The procedure is flexible, may be used with market prices of any oil contingent claim with closed form pricing solution, and easily deals with missing data problems. The approach is implemented using daily prices of all futures contracts traded at the New York Mercantile Exchange between 1991 and 2001. In-sample and out-of-sample tests indicate that the model fits the data extremely well. Though the paper concentrates on oil, the approach can be used for any other commodity with well-developed futures markets.
strategic issue that should be ranked number one on the current and future agendas of every Russian refinery, each integrated oil company, and all regulatory bodies dealing with the national energy sector.
Is Russia a viable oil source for Japan?
Phillips, J. and Challacombe, J. Energy Policy, 2003. 31, (9) 837-847. The effect of the former Soviet Union crude oil exports on the Japanese VLCC market and its Middle East oil imports: Is near sourcing viable? Japan is a major net importer of ‘primary energy’. Although recent government policies have been directed towards diversifying the type and origin of procurement, she is still empowered, in the main, by Middle East Gulf crude oil supplies. Russia with ample export quantities of crude oil within 1000 km of Japan could provide an alternative ‘near source’. Is it viable? And if so, then what effect is it likely to have on the Japanese VLCC fleet? By a review of available material an overview is provided and explored in the context of Japan’s current oil policies and sourcing. Prospects for alternative sourcing are investigated and conclusions finally reached.
03/02179 Price relationships in the petroleum market: an analysis of crude oil and refined product prices Asche, F. ef al. Energy Economics, 2003, 25, (3), 289-301. In this paper the relationships between crude oil and refined product prices are investigated in a multivariate framework. This allows us to test several (partly competing) assumptions of earlier studies. In particular, the crude oil price is found to be weakly exogenous and that the spread is constant in some but not all relationships. Moreover, the multivariate analysis shows that the link between crude oil prices and several refined product prices implies market integration for these refined products. This is an example of supply driven market integration and producers will change the output mix in response to price changes.
03/02180 Russia’s oil prices: international natlonal specifics
Khartukov, E. M. The Journal ofEnergy und Development, 2002,27, (1) 33-41. Future oil price developments will substantially determine the longterm prospects of Russia’s oil industry and, particularly, of its refining sector. In turn, the pace of re-equipping of the country’s obsolete refineries palpably will affect the related (crude-product) price structure, which is crucial for future profitability (and vitality) of both upstream and downstream operations in Russia. Hence, the far-fromwell-off industry and its ailing refining sector specifically must be vitally concerned about the possible long-term dynamics of crude and product prices, both in domestic and competing external markets. The author’s related analysis of the impact of world oil prices on future developments in Russia’s oil sector provides a useful ground for some practical conclusions. First, the international comparison of projected crude oil prices clearly shows that, within the foreseeable horizon, domestic prices of Russian crude will not reach their much-desired parity with world oil prices. At the very best - in the third decade of this millennium - domestic crude oil sales will be able to bring around 80% of comparable world market proceeds. Thus, Russian refiners will enjoy relatively cheaper domestic feedstock, assuming it is not gone abroad to the ‘greener pastures’ through debottlenecked and newly built export outlets. Second, regardless of future world price levels, a standstill in modernizing the national refining sector will further narrow the marginal profit base available for sharing between domestic oil producers and refiners. This will cause a massive run of Russian crude to more lucrative external markets and to inevitable shut-downs of loss-making refineries unable to compensate for their losses by alternative higher-priced product sales, assuming the Russian product market is not sealed from international competition by prohibitive import tariffs or other import restrictions. Third, since a policy of national oil trade protectionism proved to be the shortest road to an economic dead end, the survival of Russia’s refining sector (as well as the vitality of the whole oil industry) can be guaranteed only by radical and dynamic re-equipping the country’s outmoded refineries - an acute
Derived liquid fuels 03/02181 A new process for converting hydrocarbon liquids
Hall, K. R. et al. APPEA Journal, 2002. 42, (1). 59-63. Gas-to-liquids technology has become an intensely investigated field in the petrochemical industries. The obvious reason is the vast reserves of stranded natural gas (currently flared, reinjected or not produced) and the desire to monetize these resources. Conventional wisdom has gravitated to some variation of Fischer-Tropsch technology to produce hydrocarbon liquids from natural gas. An entirely different approach was developed for this conversion and licensed the technology to Synfuels International of Dallas for commercialization. The new process has several advantages: it is simple; it should be economical for flows ranging from 10 MMSCFD through 500 MMSCFD; it can be skid-mounted (at lower flow rates) for transportation to site; it appears that the cost of fluids produced would be less than $20 per barrel; it is nearly energy self-sufficient; water can be a byproduct; and the nominal product is a light gasoline with about a C7 molecular weight that can be converted into a heavier fraction with extra processing. The process is characterized by reacting natural gas (methane) with hydrogen in a furnace at ~1400” for few milliseconds to keep coke production to a minimum, followed by quenching the reaction with water. The cooled intermediate products are reacted in a second reactor in the presence of proprietary catalysts. A simplified scheme of the process is given with some details of the results form a 100 MSCFD pilot unit.
03102182 Hydrogenation of phenanthrene in the presence of Ni catalyst. Thermal dehydro enation of hydrophenanthrenes and role 0 9.Individual species in hydrogen transfers for coal liquefaction Nuzzi, M. and Marcandalli, B. Far/ Processing T&-molog~~. 2003, 80. (1) 35545. Mixtures of phenanthrene (P) and hydrophenanthrenes (HPs) of increasing hydrogenation degree (HzP, H4P, HsPs, H14Ps) were obtained by hydrogenation of P under kinetic control conditions on Ni catalyst at 292°C and 315°C under constant hydrogen pressure (7.17.8 MPa) for reaction times up to 96 min. Thermal treatments (4OO”C, 60 min) of the final mixtures have permitted to define the roles of individual molecular species (in particular H2P and s-HsP) in bimolecular reactions of H-exchange and disproportionation and in unimolecular reactions of isomerization and fragmentation connected to the thermal dehydrogenation. HsPs. as overhydrogenated donor species, were further examined with regard to the bimolecular reactions at higher temperature (484°C) and shorter reaction times (IO min) in the presence of P added as coal model.
03102183 Method for mixing powders to manufacture and method for dewatering of manufactured slurry
Ibaraki, T. et ul. Jpn. Kokai Tokkyo Koho JP 2003 88,741 (Cl. BOlF3, 18), 25 Mar 2003, Appl. 2001/286,257. (In Japanese) The mixing method includes suspending a mixed powder containing small and large specific gravity powders in water to manufacture a slurry, adding the latter into an agitation tank and generating descending flow at the centre side and ascending flow at the external circumference side of the slurry for mixing the latter. During the process, agitation is operated to make the flow velocity of the ascending flow of the slurry greater than or equal to a proper velocity to manufacture a uniform slurry. In addition, the manufactured slurry is supplied to a dewatering apparatus via a liquid supply piping for dewatering and making dewatered cake. In embodiment, the methods were used for mixing of iron ore powder and coke powder to manufacture a slurry, and dewatering the manufactured slurry.
03102184 Study on quick liquefaction
reaction of coal
Lin, K-C. et rtl. Ranliao Huaxue Xuehao. 2003, 3 1. (1). 49-52. (In Chinese) The reaction process of quickly liquefying Chinese Yangcun bituminous coal was studied under pressure of hydrogen 7.0 MPa(cold) by using a resonance agitation reactor. A high coal conversion was obtained at short reaction time (coal quick liquefaction) by raising reaction temperature appropriately and enhancing active hydrogen concentration and improving its transfer speed and path in the reaction system. The best reaction temperature of coal quick liquefaction (CQL) is the upper limit of the coal pyrolysis temperature range in TGA. Compared coal conversion and benzene soluble (BS) yield of Fuel and Energy Abstracts
03 Gaseous fuels (sources, properties. recovery
CQL with those of common liquefaction, CQL greatly enhances efficiency of coal liquefaction and it is favorable for further utilizing coal liquefaction product,
of oil in coal liquefaction
Ikeda, K. er
03/02186 Waste rubber treatment process and apparatus to reclaim hydrocarbon Mahjoob. A. L. US. US 6538,166 (Cl. 585-241; ClOGlIIO), 25 Mar 2003, Appl. 860,331. This paper examines waste rubber treatment process and apparatus for vaporizing rubber and separating the vaporized rubber into its usable components. The waste rubber treatment process and apparatus includes heating a quantity of rubber in a slight vacuum and at a temperature between 340” and 510” such that the rubber is vaporized and defines a vaporized rubber. The vaporized rubber has a plurality of hydrocarbon constituents therein, A Venturi separator sprays the vaporized rubber with oil having a boiling temperature > 175”. The oil binds to heavy oil in the hydrocarbon constituents. A remaining portion of the vaporized rubber is condensed such that light oils in the hydrocarbon constituents liquefy and are separated from hydrocarbon gases.
03 GASEOUS FUELS Sources, properties, recovery, treatment 03/02187
Apparatus for production
Araki, H. et al. Jpn. Kokai Tokkyo Koho JP 2003 95,615 (Cl. COlB3/ 50) 3 Apr 2003, Appl. 2001/283,178. (In Japanese) In the title apparatus including a process for separation of H from a feed gas containing H and at least hydrocarbon and CO by cryogenic separation, the following devices are provided: a feed gas compressor for compressing the feed gas, a main heat exchanger for cooling compressed feed gas, a hydrocarbon separator for liquefaction and separation of hydrocarbon from the cooled feed gas, and a CO separation column for liquefaction and separation of CO from the hydrocarbon-separated gas; in the top section of the CO separation column, a fluid supply means is provided for supplying a fluid containing component(s) having b.p. higher than that of H and lower than that of CO. The apparatus can be used for separation H from Hcontaining mixed gas, e.g. hydrocarbon reforming gas, coal dry distillation generated byproduct gas, etc.
Geoohemical behaviour of natural gas and of mlgretlon in Yitong graben, China
Huang, Z. cl al. Dizhi Diqiu Huaxue, 2002, 30, (3) 59-63. (In Chinese) Oil pools were mainly discovered in the part of the Yitong graben and a few gas pools were discovered there. According to the new geochemical data and predecessors’ researches, the geochemical behaviour of natural gas and efficiency of migration in the Yitong graben were studied in this paper in order to expound the origin of natural gas and its migration distance. Natural gas in the Yitong graben is mainly accompanying gas with crude oil, with high contents of heavy hydrocarbons. Natural gas in the Yitong graben rift is not typical oil type-gas or coal-type gas. It is connected with the type of source rock.
Fuel and Energy Absfracfs
Natural gas tram the Moliqing sag is connected with source roch affiliation of the sag. The natural gas shows obvious signs of apparent mtgration and differentiation in the SE direction. The gas pools of Yi23 well and Yi 11 wt’ll wei-c generated under the condition of migration and differentiation.
03102189 Geochemistry of natural gas and condensate and their origin in Duthai-Qiaokou-Baimiao area of Dongpu Basin, China Fen&, J.-H. C’I111 I)iclih Hua.~-lcc.2002, 31. (6). 509~ 516. (In Chinese) Oil and natural gas resources are abundance in Duzhai-QiaokouBaimiao area of Dongpu Basin, with very complex distribution of oilgas-water. Therefore, exploration is very difficult. Geochemical characteristics of natural gases and condensates in that area are discussed. The content of methane in natural gas from the wells far from the Lanliao fault is between 80% to 90% and 6’“C, is between -36.1%” to -39.9%“. The value of 4”Ari.7hAr is generally lower than 590 and ‘He?He is n x 10 *, showing characteristics of oil-type gas. In the wells near Lanliao fault, the value of ‘“Ar/ahAr is higher than 1000 and ‘He/“He is n x IO “, The ratios of ‘“‘Ar/l”Ar and ‘He/‘He are directly proportional to each other, showing a mixture of mantle source gases. The carbon isotope of methane of natural gas from these wells is heavier about 5.0%0 2 8.0%0than that of oil-type gas and is lower about 4.0X0 z 7.0%0 than that of coal-type gas. Therefore, the natural gas from the wells near the Lanliao fault is mainly complex-type gas, hut that from some wells there may be pure coal-type gas. The geochemical characteristics of condensate show that it has a terrestrial input and has a high maturity. The condensate may be divided into two groups. The first one is from wells Qiao20, Qiao23 of the eastern side of Qiaokou and well Bai 16 of Baimiao, and has lower gammacerane index. Their source rock may be correlated to Gegangji depression. The second one is in Baimiao area, the condensate may be correlated to Qianliyuan Basin and it has higher gammacerane index and oleananc index. The natural gases and condensates were generated by high temperature decomposition of hydrocarbon source rocks in Duzhai-Qiaokou-Baimiao area. The natural gas pool is characterized by multiple source. multiple formation period and complex oil-gas reservoir.
03/02190 Hydrogen production presence of calcium hydroxide
from heavy oil in the
Sato, S. ef ul. Fuel, 2003. 82, (5), 561-567. A new hydrogen production method, the HyPr-RING process was applied to a vacuum residue of Arabian light crude oil to clarify the effects of added water, calcium hydroxide, which absorbs carbon dioxide, and the reaction temperature. It was determined that when a sufficient amount of calcium hydroxide was present, it provided enough water to produce hydrogen and additional water was not necessary. To consume all of the carbon dioxide in I mol of carbon from the feedstock, 25 mtrl% of calcium hydroxide was needed and hydrogen production was saturated at 50 mol%. Carbon conversion was dependent mainly on the temperature and was slightly dependent on water and pressure. The reaction pressure was as low as 4.2 MPa. Thermal decomposition of the feedstock was the dominant reaction below 600°C. which produced methane.
03/02191 Isotopic characteristics of large-to-middle sized gas fields in western China and natural as resource for ‘Transportation of Gas from Western Ch Bna to Eastern China’ Project Xu, Y. ct al. Kucmgn LI Yanshr Diqirr Huuur To~~ghuo,2002, 2 I. (2). 73 77. (In Chinese) The properties of typical large-to-middle sized gas fields in four large basins of West China are geochemical discussed predominantly based on ‘?C isotopic data. The coal-type gases, especially higher mature coal-type gases, in some pre-continental subbasins in the Trim basin are current and potential gas resources, while in the Sichuan basin the dominant gas resource is post-mature thermal cracking gas. Two worldwide large gas fields have been probed in the Ordos basin. namely, the Changqing gas field and Suligemiao gas field, and the former is formed as mixture of coal-type gas and oil-type gas, the latter is coal-type gas. The Sanhu large-to-middle sized gas field in the eastern of Qaidam basin is coal-type biogas. The detection of natural gas origins of the gas fields provides valuable scientific information for exploration of natural gas reserves. These large-to-middle sized gas fields presently guarantee the gas resource for ‘transportation of Western gas to Eastern China’ project.
Re etitive carbonation-calctnation reactions of Ca-based so r&B nts for efficient CO2 sorption at elevated temperatures and pressures 03/02192
Kuramoto, K. et al. Industrial & Engineering Chemistry Research. 2003. 42,
In an effort to develop a novel hydrogen production process in which coal is gasified with high-pressure steam in the presence of CO: sorhentc. the fundamental CO? sorption characteristics of C-based