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Crude oil analysis evaluates the properties of a sample to determine its value and plan for refining. Chemists perform tests to identify impurities and usable components. The evaluation determines the final rating of the oil, and traders and refineries use it to determine pricing and processing plans. Government agencies may also use tests to assess oil reserves or trace oil origins for environmental investigations.
A crude oil analysis is an evaluation of the properties of a crude oil sample for the benefit of refiners, traders and other interested parties. All crudes are not created equally and test results can determine the value of the oil as well as help with plans for refining and processing the oil to break it down into usable components. This can be done at an oil company laboratory or by a third party organization, depending on who orders the assay and what their precise need might be.
In an analysis of crude oil, petroleum chemists put the sample through a series of tests. They determine the composition of the oil, identifying any impurities present and their concentrations. Chemists can also distill the oil to learn more about what kinds of usable components it will produce. This process can be destructive and usually requires several samples to enable a series of tests to be performed. Tests can be retaken if there are any questions.
Crude oil assay examines the qualities of oil when it is hot and cold, and also explores the quality of finished products such as gasoline. All this information determines the final rating of the oil, such as light sweet crude for particularly high quality oils. The better the evaluation, the more valuable the oil and the more products it will be possible to obtain from it. For oil and gas exploration, oil analyzes are critical for determining where and when to drill and for assessing the value of a potential investment.
Traders use the crude oil rate to find out how much to ask or pay for various petroleum products, while refineries rely on the rate to develop a plan for processing the oil. The goal is to extract as many useful components as possible through processes such as hydrocarbon distillation and cracking. Knowing the properties of the oil in advance will allow the refinery to determine how it should handle the oil upon delivery. It can also be critical for maintaining refinery statistics on the type of oil it processes and average yields.
Government agencies may also use tests, where the goal is usually to determine the value of oil reserves. In addition to being useful in assessing the value of government-held oil fields, a crude oil analysis can also be a valuable forensic tool. Oil contains markers that provide clues to its origins, making it possible to trace the origins of oil no matter where it is found. This can be important for environmental investigations or situations where governments want to avoid buying oil from embargoed or restricted regions.
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