|SThis slide and the next were designed to illustrate the versatility
of refineries typically running both sweet and sour crude oil from light to
heavy, and to illustrate the shift that occurred from 2003 to 2004.
|–This information is a compilation of 9
refineries on the Gulf Coast that process heavy sour crude oils and represent
about 1.8 million barrels per day of capacity.
|–Now we are comparing imported crude oils for
2003 to 10 months in 2004, but these refineries were selected because nearly
all of the crude oil inputs were from imports.
|SOverall, these refineries moved to a
somewhat heavier slate in 2004 than 2003, with average API declining
|SIf there were significant conversion
capacity constraints, one would expect to see increased residual fuel yields
and less light product yields for these refineries. The next slide will show the actual yield