Liquid fuels processing

• Oil and natural gas liquid shares are based on refinery/transfers FLOWS sourced from IEA energy balance

• Incremental cost markups (+/-) to the oil price are applied to the refined fuels based on collaboration with industry experts

• The base year operation of these transformation processes is fixed while future values are unbounded for generic transfers and increasingly free for refineries

• Biodiesel, bio-kerosene and bio-gasoline can be produced with conversion efficiencies accounted for with cost markups applied to differentiate from fossil fuel equivalents