瓦莱罗能源Valero Energy：2025年炼油和可再生柴油业务概况报告（英文版）

Crude oils are blends of hydrocarbon molecules o Classified and priced by density, sulfur content and acidity • Density is commonly measured in API gravity (relative density of crude oil to water) o API > 10: lighter, floats on water o API < 10: heavier, sinks in water • Sulfur content is measured in weight percent o Less than 0.7% sulfur content = sweet o Greater than 0.7% sulfur content = sour • Acidity is measured by Total Acid Number (TAN) o High acid crudes are those with TAN greater tha