The Facts About Petroleum Coke
May 24, 2013
Koch Minerals is involved in commodity trading. Commodity trading is an integral part of global commerce and Koch Minerals and its subsidiaries are among the world’s largest dry-bulk commodity handlers – marketing and trading more than 40 million tons of products annually. One of the commodities traded and marketed is petroleum coke.
Recent news stories about petroleum coke reflect a fundamental misunderstanding and a resulting mischaracterization of this important product and its uses. To help dispel the confusion and set the record straight, here are some facts about the product:
- Petroleum coke is a product of the refining process and a valued commodity around the world. It is produced from all types of oil – including light, sweet crude oil and Canadian crude.
- There has been a global market for petroleum coke for decades. In the ordinary course of day-to-day commerce, it is stored and shipped from ports around North America and the world.
- Petroleum coke is an essential fuel that is used in industrial applications and manufacturing processes including the production of steel, aluminum, and other specialty products.
- The United States Environmental Protection Agency classifies petroleum coke as a “traditional fuel” that has been historically managed as a “valuable fuel product.”
- The EPA does not consider petroleum coke a hazardous product. Related links here and here.
- Petroleum coke is used and handled safely every day in the ordinary course of business.
- The use of petroleum coke has enabled many North American businesses to remain competitive in the global marketplace while employing thousands of people in manufacturing jobs with good wages and benefits.