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The AAPG/Datapages Combined Publications Database
AAPG Bulletin
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Although crudes are all fundamentally made up of mixtures of hydrocarbons and are hence similar in this respect, the type of hydrocarbons and the relative proportions in which they are present can vary widely from crude to crude. This variation causes crudes to differ in value. This value is established by the refineries who use crudes as a raw material for the manufacture of the various finished products. Some crudes are in demand and are assigned a high value because substantial yields of good quality products can be made from them with little special processing, whereas, others are penalized because certain products are not present or are of such poor quality that special processing (which is usually expensive) is necessary to make these products saleable. In order to valuate crude, a sample is assayed in the laboratory, whereby the yield and quality of the primary products are determined and these data are used in computing the value of the crude. Other factors, such as transportation costs to refinery centers and the ultimate consumers and competitive conditions, are also considered in arriving at the price paid for a crude at the well.
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