The increase in domestic production of light tight oil (LTO) has resulted in rapid shifts to processing these crudes in North American (NA) refineries.
The increase in domestic production of light tight oil (LTO) has resulted in rapid shifts to processing these crudes in North American (NA) refineries. In spite of the logistical challenges involved with bringing these new crudes to the market, the impact by LTO on the NA refining industry has been dramatic. Waterborne imports declined from more than 60% in 2010 to less than 50% in 2014. The shift has been even more dramatic for light sweet crudes, with US Gulf Coast waterborne import of these crudes dropping from nearly 1 MMbpd in 2010 to virtually none in 2014.
LTOs typically have a much higher content of light material compared to the traditional light sweet crudes that most NA refinerie
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