Refining Value Chain Optimization Trends in the United States: The Shale Factor

Shale oil or light tight oil (LTO) is a sweet, less viscous crude oil, with an average API gravity range of 35º API to 55º API, and a sulfur content as low as <0.2%. After the Global Financial Crisis in 2008, the vast reserves of LTO in the geological formations such as the Permian, Eagle Ford and Bakken became more economical to produce, mainly due to technological innovation and easy access to low-cost financing.