Heavy oil refiners living in a light oil world

摘要

Just a note to refineries that have spent billions on new equipment to process heavier oils: hope you kept the receipt. Shale oil production out of areas like Texas and North Dakota has exploded in recent years, flooding the North American market with a new wave of sweet, light crude. Heavy oil refining— once considered a necessity when the continent's light oil production was on the decline—has suddenly become a much riskier venture.