Residues; of petroleum oils or of oils obtained from bituminous minerals

HS code 271390 covers the residues of petroleum oils or oils obtained from bituminous minerals. These residues are a crucial byproduct of the petroleum refining industry, which is a vital component of the global energy and manufacturing sectors. The proper management and utilization of these residues are essential for the efficient and sustainable operation of the petroleum industry, as well as for minimizing environmental impact.

The production of residues covered under HS code 271390 is primarily a result of the refining process for crude oil and other bituminous minerals. After the initial distillation and separation of the more valuable petroleum fractions, such as gasoline, diesel, and lubricating oils, the remaining heavier components are classified as residues. These residues may undergo further processing, such as cracking or blending, to extract additional usable products or to prepare them for various industrial applications.

The main inputs required for the production of residues under HS code 271390 are crude oil, bituminous minerals, and the various equipment and infrastructure used in the petroleum refining industry. This includes distillation units, cracking units, blending facilities, and storage tanks. Additionally, the industry relies on a skilled workforce, transportation networks, and energy sources to support the refining and processing operations.

The residues covered under HS code 271390 have a wide range of applications, including as fuel oils, asphalt, and feedstock for the production of other petroleum-based products. These residues may be further processed or blended to meet the specific requirements of various industries, such as 271111 Natural gas, liquefied, 271112 Propane, liquefied, and 271113 Butanes, liquefied. The efficient utilization of these residues is crucial for the overall sustainability and profitability of the petroleum industry.