Russian Prime Minister Vladimir Putin was in attendance this week at the opening of the Eastern Siberia-Pacific Ocean pipeline. This pipeline will transport up to 1.6 million barrels a day of oil from Russia to China. Putin also suggested that crude is more profitable than refined products. Take a look below at an excerpt from the article.
“Strange as it may seem, it is more profitable to sell crude oil," Putin said. He suggested that refined products require more manpower and equipment, adding that crude sells for a higher price on world markets.
For the full article click here.
Do you agree with Putin’s suggestion about the profitability of crude over refined products and what is your reasoning?
If you are unsure I encourage you to have a look at two upcoming courses covering crude oil trading and petroleum refining that can clear up any questions or misconceptions.
Overview of Physical Crude Oil Trading and Operations
12 - 13 Jan 2010 in London, UK
19 - 20 Jan 2010 in Singapore
25 - 26 Jan 2010 in Houston, TX
8 - 9 Feb 2010 in Kuala Lumpur, Malaysia
Fundamentals of Petroleum Refining - A Non-Technical Introduction
14 - 15 Jan 2010 in London, UK
27 - 28 Jan 2010 in Houston, TX
10 - 11 Feb 2010 in Kuala Lumpur, Malaysia
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