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Oil and Gas Value Chains
From Wellhead to Gasoline Pump
Crude Oil Value Chain
Exploration | Production | Transportation | Refining | Marketing | ||||
Using technology |
| Bringing oil to |
| Moving oil to |
| Converting |
| Distributing |
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Natural Gas Value Chain
Exploration | Production | Processing | Transportation | Marketing | ||||
Using technology |
| Bringing gas to |
| Treating gas |
| Moving gas |
| Distributing |
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Oil and Gas Value Chain
Value Chain Economics
The following tables are estimates of the various cost components that make up the pump price of gasoline. The tables are based on a variety of sources and assume a crude oil price of $49/B and an average pump price of $2.00/gallon. The costs are based on data reported in the Oil & Gas Journal and Performance Profiles of Major Energy Producers 2007.
The significant findings are that:
Over 75% of an integrated oil company's net margins are in the upstream. | |
Crude oil costs contribute nearly sixty percent to pump prices. | |
Severance and gasoline taxes cost consumers nearly 52 cents/gallon or 26% of pump prices. | |
Company net margins for refining and marketing are about 20 cents/gallon or 10% of pump price. |
Oil and Gas Economics
Operation | Costs | Value | Gross Margin | Net Margin | Percent |
Exploration | 2.97 | 16.33 | 16.33 | 13.36 | 36% |
Production | 17.78 | 49.00 | 32.67 | 14.89 | 41% |
Transportation | 1.00 | 51.96 | 2.96 | 1.96 | 5% |
Refining | 3.70 | 60.46 | 8.50 | 4.80 | 13% |
Distribution | 1.90 | 63.69 | 3.23 | 1.33 | 4% |
Marketing | 0.80 | 64.85 | 1.16 | 0.36 | 1% |
Pump Taxes | 19.15 | 84.00 | 0.00 | 0.00 | 0% |
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|
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| 36.70 | 100% |
Gasoline Cost Components
Component | $/B | Cents/Gallon | Percent of Pump Price |
Crude Oil | 49.00 | 116.67 | 58% |
Operating Costs | 4.90 | 11.67 | 6% |
Taxes | 21.65 | 51.55 | 26% |
Company Net Margins | 8.45 | 20.11 | 10% |
Total | 84.00 | 200.00 | 100% |
Please contact us with your questions and comments on this analysis.
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