Abstract
The selection of technologies for upgrading of heavy crude oils to produce light oil is described. The price differential between heavy oil feed and upgraded oil product is found to be an important parameter for proper technologies selection. Four methodologies for calculating crude oil prices are compared. All the approaches take into consideration the base price of benchmark crude oils to determine the price of the actual crude oil. The comparison of methods was done with reported commercial prices of Maya and Isthmus crude oils taking as basis the prices of Brent and WTI benchmark crude oils. The method based on product yields in a Fluid Catalytic Cracking scheme resulted to be the most accurate with average deviations from −2.46 to 0.11 USD/Bbl. This yield-based method was used to determine the prices of heavy crude oils and the corresponding upgraded oils obtained by catalytic hydrotreating. The economic analysis for the different upgrading cases indicated that the profit when processing 10, 13, and 16°API crude oils is 7.097, 5.457, and 5.591 USD/Bbl, respectively, being higher for heavier crude oil.
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