Petroleum

Petroleum (/pəˈtroʊliəm/) is a naturally occurring, yellowish-black liquid found in geological formations beneath the Earth's surface. It is commonly refined into various types of fuels. Components of petroleum are separated using a technique called fractional distillation, i.e. separation of a liquid mixture into fractions differing in boiling point by means of distillation, typically using a fractionating column.

It consists of naturally occurring hydrocarbons of various molecular weights and may contain miscellaneous organic compounds.[1] The name petroleum covers both naturally occurring unprocessed crude oil and petroleum products that are made up of refined crude oil. A fossil fuel, petroleum is formed when large quantities of dead organisms, mostly zooplankton and algae, are buried underneath sedimentary rock and subjected to both intense heat and pressure.

Petroleum has mostly been recovered by oil drilling (natural petroleum springs are rare). Drilling is carried out after studies of structural geology (at the reservoir scale), sedimentary basin analysis, and reservoir characterisation (mainly in terms of the porosity and permeability of geologic reservoir structures) have been completed.[2][3] It is refined and separated, most easily by distillation, into a large number of consumer products, from gasoline (petrol) and kerosene to asphalt and chemical reagents used to make plastics, pesticides and pharmaceuticals.[4] Petroleum is used in manufacturing a wide variety of materials,[5] and it is estimated that the world consumes about 95 million barrels each day.

Oil well
Pumpjack pumping an oil well near Lubbock, Texas.
Photo lg kuwait
An oil refinery in Mina Al Ahmadi, Kuwait.

Etymology

Fractional distillation apparatus
Fractional distillation apparatus.

The word petroleum comes from Medieval Latin petroleum (literally "rock oil"), which comes from Latin petra', "rock", (from Ancient Greek: πέτρα, translit. petra, "rock") and Latin oleum, "oil", (from Ancient Greek: έλαιο, translit. élaio, "oil").[6][7]

The term was used in the treatise De Natura Fossilium, published in 1546 by the German mineralogist Georg Bauer, also known as Georgius Agricola.[8] In the 19th century, the term petroleum was often used to refer to mineral oils produced by distillation from mined organic solids such as cannel coal (and later oil shale), and refined oils produced from them; in the United Kingdom, storage (and later transport) of these oils were regulated by a series of Petroleum Acts, from the Petroleum Act 1863 onwards.

History

Early history

Gusher Okemah OK 1922
Oil derrick in Okemah, Oklahoma, 1922.

Petroleum, in one form or another, has been used since ancient times, and is now important across society, including in economy, politics and technology. The rise in importance was due to the invention of the internal combustion engine, the rise in commercial aviation, and the importance of petroleum to industrial organic chemistry, particularly the synthesis of plastics, fertilisers, solvents, adhesives and pesticides.

More than 4000 years ago, according to Herodotus and Diodorus Siculus, asphalt was used in the construction of the walls and towers of Babylon; there were oil pits near Ardericca (near Babylon), and a pitch spring on Zacynthus.[9] Great quantities of it were found on the banks of the river Issus, one of the tributaries of the Euphrates. Ancient Persian tablets indicate the medicinal and lighting uses of petroleum in the upper levels of their society.

The use of petroleum in ancient China dates back to more than 2000 years ago. In I Ching, one of the earliest Chinese writings cites that oil in its raw state, without refining, was first discovered, extracted, and used in China in the first century BCE. In addition, the Chinese were the first to use petroleum as fuel as early as the fourth century BCE.[10][11][12]

By 347 AD, oil was produced from bamboo-drilled wells in China.[13][14] Early British explorers to Myanmar documented a flourishing oil extraction industry based in Yenangyaung that, in 1795, had hundreds of hand-dug wells under production.[15]

Pechelbronn (Pitch fountain) is said to be the first European site where petroleum has been explored and used. The still active Erdpechquelle, a spring where petroleum appears mixed with water has been used since 1498, notably for medical purposes. Oil sands have been mined since the 18th century.[16]

In Wietze in lower Saxony, natural asphalt/bitumen has been explored since the 18th century.[17] Both in Pechelbronn as in Wietze, the coal industry dominated the petroleum technologies.[18]

Modern history

Oil Reserves
Proven world oil reserves, 2013. Unconventional reservoirs such as natural heavy oil and oil sands are included.

Chemist James Young noticed a natural petroleum seepage in the Riddings colliery at Alfreton, Derbyshire from which he distilled a light thin oil suitable for use as lamp oil, at the same time obtaining a more viscous oil suitable for lubricating machinery. In 1848 Young set up a small business refining the crude oil.[19]

Young eventually succeeded, by distilling cannel coal at a low heat, in creating a fluid resembling petroleum, which when treated in the same way as the seep oil gave similar products. Young found that by slow distillation he could obtain a number of useful liquids from it, one of which he named "paraffine oil" because at low temperatures it congealed into a substance resembling paraffin wax.[19]

The production of these oils and solid paraffin wax from coal formed the subject of his patent dated 17 October 1850. In 1850 Young & Meldrum and Edward William Binney entered into partnership under the title of E.W. Binney & Co. at Bathgate in West Lothian and E. Meldrum & Co. at Glasgow; their works at Bathgate were completed in 1851 and became the first truly commercial oil-works in the world with the first modern oil refinery.[20]

West Lothian shale bing, Scotland
Shale bings near Broxburn, 3 of a total of 19 in West Lothian.

The world's first oil refinery was built in 1856 by Ignacy Łukasiewicz.[21] His achievements also included the discovery of how to distill kerosene from seep oil, the invention of the modern kerosene lamp (1853), the introduction of the first modern street lamp in Europe (1853), and the construction of the world's first modern oil well (1854).[22]

The demand for petroleum as a fuel for lighting in North America and around the world quickly grew.[23] Edwin Drake's 1859 well near Titusville, Pennsylvania, is popularly considered the first modern well. Already 1858 Georg Christian Konrad Hunäus had found a significant amount of petroleum while drilling for lignite 1858 in Wietze, Germany. Wietze later provided about 80% of the German consumption in the Wilhelminian Era.[24] The production stopped in 1963, but Wietze has hosted a Petroleum Museum since 1970.[25]

Drake's well is probably singled out because it was drilled, not dug; because it used a steam engine; because there was a company associated with it; and because it touched off a major boom.[26] However, there was considerable activity before Drake in various parts of the world in the mid-19th century. A group directed by Major Alexeyev of the Bakinskii Corps of Mining Engineers hand-drilled a well in the Baku region in 1848.[27] There were engine-drilled wells in West Virginia in the same year as Drake's well.[28] An early commercial well was hand dug in Poland in 1853, and another in nearby Romania in 1857. At around the same time the world's first, small, oil refinery was opened at Jasło in Poland, with a larger one opened at Ploiești in Romania shortly after. Romania is the first country in the world to have had its annual crude oil output officially recorded in international statistics: 275 tonnes for 1857.[29][30]

The first commercial oil well in Canada became operational in 1858 at Oil Springs, Ontario (then Canada West).[31] Businessman James Miller Williams dug several wells between 1855 and 1858 before discovering a rich reserve of oil four metres below ground.[32] Williams extracted 1.5 million litres of crude oil by 1860, refining much of it into kerosene lamp oil. Williams's well became commercially viable a year before Drake's Pennsylvania operation and could be argued to be the first commercial oil well in North America.[33] The discovery at Oil Springs touched off an oil boom which brought hundreds of speculators and workers to the area. Advances in drilling continued into 1862 when local driller Shaw reached a depth of 62 metres using the spring-pole drilling method.[34] On January 16, 1862, after an explosion of natural gas Canada's first oil gusher came into production, shooting into the air at a recorded rate of 3,000 barrels per day.[35] By the end of the 19th century the Russian Empire, particularly the Branobel company in Azerbaijan, had taken the lead in production.[36]

Ride with hitler
A poster used to promote carpooling as a way to ration gasoline during World War II.

Access to oil was and still is a major factor in several military conflicts of the twentieth century, including World War II, during which oil facilities were a major strategic asset and were extensively bombed.[37] The German invasion of the Soviet Union included the goal to capture the Baku oilfields, as it would provide much needed oil-supplies for the German military which was suffering from blockades.[38] Oil exploration in North America during the early 20th century later led to the US becoming the leading producer by mid-century. As petroleum production in the US peaked during the 1960s, however, the United States was surpassed by Saudi Arabia and the Soviet Union.

Today, about 90 percent of vehicular fuel needs are met by oil. Petroleum also makes up 40 percent of total energy consumption in the United States, but is responsible for only 1 percent of electricity generation.[39] Petroleum's worth as a portable, dense energy source powering the vast majority of vehicles and as the base of many industrial chemicals makes it one of the world's most important commodities. Viability of the oil commodity is controlled by several key parameters, number of vehicles in the world competing for fuel, quantity of oil exported to the world market (Export Land Model), net energy gain (economically useful energy provided minus energy consumed), political stability of oil exporting nations and ability to defend oil supply lines.

The top three oil producing countries are Russia, Saudi Arabia and the United States.[40] In 2018, due in part to developments in hydraulic fracturing and horizonal drilling, the United States became the world's largest producer.[41][42] About 80 percent of the world's readily accessible reserves are located in the Middle East, with 62.5 percent coming from the Arab 5: Saudi Arabia, United Arab Emirates, Iraq, Qatar and Kuwait. A large portion of the world's total oil exists as unconventional sources, such as bitumen in Athabasca oil sands and extra heavy oil in the Orinoco Belt. While significant volumes of oil are extracted from oil sands, particularly in Canada, logistical and technical hurdles remain, as oil extraction requires large amounts of heat and water, making its net energy content quite low relative to conventional crude oil. Thus, Canada's oil sands are not expected to provide more than a few million barrels per day in the foreseeable future.

Composition

In its strictest sense, petroleum includes only crude oil, but in common usage it includes all liquid, gaseous and solid hydrocarbons. Under surface pressure and temperature conditions, lighter hydrocarbons methane, ethane, propane and butane exist as gases, while pentane and heavier hydrocarbons are in the form of liquids or solids. However, in an underground oil reservoir the proportions of gas, liquid, and solid depend on subsurface conditions and on the phase diagram of the petroleum mixture.[43]

An oil well produces predominantly crude oil, with some natural gas dissolved in it. Because the pressure is lower at the surface than underground, some of the gas will come out of solution and be recovered (or burned) as associated gas or solution gas. A gas well produces predominantly natural gas. However, because the underground temperature and pressure are higher than at the surface, the gas may contain heavier hydrocarbons such as pentane, hexane, and heptane in the gaseous state. At surface conditions these will condense out of the gas to form "natural gas condensate", often shortened to condensate. Condensate resembles gasoline in appearance and is similar in composition to some volatile light crude oils.

The proportion of light hydrocarbons in the petroleum mixture varies greatly among different oil fields, ranging from as much as 97 percent by weight in the lighter oils to as little as 50 percent in the heavier oils and bitumens.

The hydrocarbons in crude oil are mostly alkanes, cycloalkanes and various aromatic hydrocarbons, while the other organic compounds contain nitrogen, oxygen and sulfur, and trace amounts of metals such as iron, nickel, copper and vanadium. Many oil reservoirs contain live bacteria.[44] The exact molecular composition of crude oil varies widely from formation to formation but the proportion of chemical elements varies over fairly narrow limits as follows:[45]

Composition by weight
Element Percent range
Carbon 83 to 85%
Hydrogen 10 to 14%
Nitrogen 0.1 to 2%
Oxygen 0.05 to 1.5%
Sulfur 0.05 to 6.0%
Metals < 0.1%

Four different types of hydrocarbon molecules appear in crude oil. The relative percentage of each varies from oil to oil, determining the properties of each oil.[43]

Composition by weight
Hydrocarbon Average Range
Alkanes (paraffins) 30% 15 to 60%
Naphthenes 49% 30 to 60%
Aromatics 15% 3 to 30%
Asphaltics 6% remainder
Total World Oil Reserves Conventional Unconventional
Unconventional resources are much larger than conventional ones.[46]

Crude oil varies greatly in appearance depending on its composition. It is usually black or dark brown (although it may be yellowish, reddish, or even greenish). In the reservoir it is usually found in association with natural gas, which being lighter forms a "gas cap" over the petroleum, and saline water which, being heavier than most forms of crude oil, generally sinks beneath it. Crude oil may also be found in a semi-solid form mixed with sand and water, as in the Athabasca oil sands in Canada, where it is usually referred to as crude bitumen. In Canada, bitumen is considered a sticky, black, tar-like form of crude oil which is so thick and heavy that it must be heated or diluted before it will flow.[47] Venezuela also has large amounts of oil in the Orinoco oil sands, although the hydrocarbons trapped in them are more fluid than in Canada and are usually called extra heavy oil. These oil sands resources are called unconventional oil to distinguish them from oil which can be extracted using traditional oil well methods. Between them, Canada and Venezuela contain an estimated 3.6 trillion barrels (570×109 m3) of bitumen and extra-heavy oil, about twice the volume of the world's reserves of conventional oil.[48]

Petroleum is used mostly, by volume, for refining into fuel oil and gasoline, both important "primary energy" sources. 84 percent by volume of the hydrocarbons present in petroleum is converted into energy-rich fuels (petroleum-based fuels), including gasoline, diesel, jet, heating, and other fuel oils, and liquefied petroleum gas.[49] The lighter grades of crude oil produce the best yields of these products, but as the world's reserves of light and medium oil are depleted, oil refineries are increasingly having to process heavy oil and bitumen, and use more complex and expensive methods to produce the products required. Because heavier crude oils have too much carbon and not enough hydrogen, these processes generally involve removing carbon from or adding hydrogen to the molecules, and using fluid catalytic cracking to convert the longer, more complex molecules in the oil to the shorter, simpler ones in the fuels.

Due to its high energy density, easy transportability and relative abundance, oil has become the world's most important source of energy since the mid-1950s. Petroleum is also the raw material for many chemical products, including pharmaceuticals, solvents, fertilizers, pesticides, and plastics; the 16 percent not used for energy production is converted into these other materials. Petroleum is found in porous rock formations in the upper strata of some areas of the Earth's crust. There is also petroleum in oil sands (tar sands). Known oil reserves are typically estimated at around 190 km3 (1.2 trillion (short scale) barrels) without oil sands,[50] or 595 km3 (3.74 trillion barrels) with oil sands.[51] Consumption is currently around 84 million barrels (13.4×106 m3) per day, or 4.9 km3 per year, yielding a remaining oil supply of only about 120 years, if current demand remains static.

Chemistry

Octane molecule 3D model
Octane, a hydrocarbon found in petroleum. Lines represent single bonds; black spheres represent carbon; white spheres represent hydrogen.

Petroleum is a mixture of a very large number of different hydrocarbons; the most commonly found molecules are alkanes (paraffins), cycloalkanes (naphthenes), aromatic hydrocarbons, or more complicated chemicals like asphaltenes. Each petroleum variety has a unique mix of molecules, which define its physical and chemical properties, like color and viscosity.

The alkanes, also known as paraffins, are saturated hydrocarbons with straight or branched chains which contain only carbon and hydrogen and have the general formula CnH2n+2. They generally have from 5 to 40 carbon atoms per molecule, although trace amounts of shorter or longer molecules may be present in the mixture.

The alkanes from pentane (C5H12) to octane (C8H18) are refined into gasoline, the ones from nonane (C9H20) to hexadecane (C16H34) into diesel fuel, kerosene and jet fuel. Alkanes with more than 16 carbon atoms can be refined into fuel oil and lubricating oil. At the heavier end of the range, paraffin wax is an alkane with approximately 25 carbon atoms, while asphalt has 35 and up, although these are usually cracked by modern refineries into more valuable products. The shortest molecules, those with four or fewer carbon atoms, are in a gaseous state at room temperature. They are the petroleum gases. Depending on demand and the cost of recovery, these gases are either flared off, sold as liquefied petroleum gas under pressure, or used to power the refinery's own burners. During the winter, butane (C4H10), is blended into the gasoline pool at high rates, because its high vapor pressure assists with cold starts. Liquified under pressure slightly above atmospheric, it is best known for powering cigarette lighters, but it is also a main fuel source for many developing countries. Propane can be liquified under modest pressure, and is consumed for just about every application relying on petroleum for energy, from cooking to heating to transportation.

The cycloalkanes, also known as naphthenes, are saturated hydrocarbons which have one or more carbon rings to which hydrogen atoms are attached according to the formula CnH2n. Cycloalkanes have similar properties to alkanes but have higher boiling points.

The aromatic hydrocarbons are unsaturated hydrocarbons which have one or more planar six-carbon rings called benzene rings, to which hydrogen atoms are attached with the formula CnH2n-6. They tend to burn with a sooty flame, and many have a sweet aroma. Some are carcinogenic.

These different molecules are separated by fractional distillation at an oil refinery to produce gasoline, jet fuel, kerosene, and other hydrocarbons. For example, 2,2,4-trimethylpentane (isooctane), widely used in gasoline, has a chemical formula of C8H18 and it reacts with oxygen exothermically:[52]

C
8
H
18
(l) + 25 O
2
(g) → 16 CO
2
(g) + 18 H
2
O
(g) (ΔH = −5.51 MJ/mol of octane)

The number of various molecules in an oil sample can be determined by laboratory analysis. The molecules are typically extracted in a solvent, then separated in a gas chromatograph, and finally determined with a suitable detector, such as a flame ionization detector or a mass spectrometer.[53] Due to the large number of co-eluted hydrocarbons within oil, many cannot be resolved by traditional gas chromatography and typically appear as a hump in the chromatogram. This unresolved complex mixture (UCM) of hydrocarbons is particularly apparent when analysing weathered oils and extracts from tissues of organisms exposed to oil. Some of the component of oil will mix with water: the water associated fraction of the oil.

Incomplete combustion of petroleum or gasoline results in production of toxic byproducts. Too little oxygen during combustion results in the formation of carbon monoxide. Due to the high temperatures and high pressures involved, exhaust gases from gasoline combustion in car engines usually include nitrogen oxides which are responsible for creation of photochemical smog.

Empirical equations for thermal properties

Heat of combustion

At a constant volume, the heat of combustion of a petroleum product can be approximated as follows:

,

where is measured in calories per gram and is the specific gravity at 60 °F (16 °C).

Thermal conductivity

The thermal conductivity of petroleum based liquids can be modeled as follows:[54]

where is measured in BTU · °F−1hr−1ft−1 , is measured in °F and is degrees API gravity.

Specific heat

The specific heat of petroleum oils can be modeled as follows:[55]

,

where is measured in BTU/(lb °F), is the temperature in Fahrenheit and is the specific gravity at 60 °F (16 °C).

In units of kcal/(kg·°C), the formula is:

,

where the temperature is in Celsius and is the specific gravity at 15 °C.

Latent heat of vaporization

The latent heat of vaporization can be modeled under atmospheric conditions as follows:

,

where is measured in BTU/lb, is measured in °F and is the specific gravity at 60 °F (16 °C).

In units of kcal/kg, the formula is:

,

where the temperature is in Celsius and is the specific gravity at 15 °C.[56]

Formation

Treibs&Chlorophyll
Structure of a vanadium porphyrin compound (left) extracted from petroleum by Alfred E. Treibs, father of organic geochemistry. Treibs noted the close structural similarity of this molecule and chlorophyll a (right).[57][58]

Petroleum is a fossil fuel derived from ancient fossilized organic materials, such as zooplankton and algae.[59][60] Vast amounts of these remains settled to sea or lake bottoms where they were covered in stagnant water (water with no dissolved oxygen) or sediments such as mud and silt faster than they could decompose aerobically. Approximately 1 m below this sediment or water oxygen concentration was low, below 0.1 mg/l, and anoxic conditions existed. Temperatures also remained constant.[60]

As further layers settled to the sea or lake bed, intense heat and pressure built up in the lower regions. This process caused the organic matter to change, first into a waxy material known as kerogen, found in various oil shales around the world, and then with more heat into liquid and gaseous hydrocarbons via a process known as catagenesis. Formation of petroleum occurs from hydrocarbon pyrolysis in a variety of mainly endothermic reactions at high temperature or pressure, or both.[60][61] These phases are described in detail below.

First phase of diagenesis: anaerobic decay

In the absence of plentiful oxygen, aerobic bacteria were prevented from decaying the organic matter after it was buried under a layer of sediment or water. However, anaerobic bacteria were able to reduce sulfates and nitrates among the matter to H2S and N2 respectively by using the matter as a source for other reactants. Due to such anaerobic bacteria, at first this matter began to break apart mostly via hydrolysis: polysaccharides and proteins were hydrolyzed to simple sugars and amino acids respectively. These were further anaerobically oxidized at an accelerated rate by the enzymes of the bacteria: e.g. amino acids went through oxidative deamination to imino acids, which in turn reacted further to ammonia and α-keto acids. Monosaccharides in turn ultimately decayed to CO2 and methane. The anaerobic decay products of amino acids, monosaccharides, phenols and aldehydes combined to fulvic acids. Fats and waxes were not extensively hydrolyzed under these mild conditions.[60]

Second phase of diagenesis: kerogen formation

Some phenolic compounds produced from previous reactions worked as bactericides and actinomycetales order of bacteria produced antibiotic compounds (e.g. streptomycin). Thus the action of anaerobic bacteria ceased at about 10 m below the water or sediment. The mixture at this depth contained fulvic acids, unreacted and partially reacted fats and waxes, slightly modified lignin, resins and other hydrocarbons.[60] As more layers of organic matter settled to the sea or lake bed, intense heat and pressure built up in the lower regions.[61] As a consequence, compounds of this mixture the began to combine in poorly understood ways to kerogen. Combination happened in a similar fashion as phenol and formaldehyde molecules react to urea-formaldehyde resins, but kerogen formation occurred in a more complex manner due to a bigger variety of reactants. The total process of kerogen formation from the beginning of anaerobic decay is called diagenesis, a word that means a transformation of materials by dissolution and recombination of their constituents.[60]

Catagenesis: transformation of kerogen into fossil fuels

Kerogen formation continued to the depth of about 1 km from the Earth's surface where temperatures may reach around 50 °C. Kerogen formation represents a halfway point between organic matter and fossil fuels: kerogen can be exposed to oxygen, oxidize and thus be lost or it could be buried deeper inside the Earth's crust and be subjected to conditions which allow it to slowly transform into fossil fuels like petroleum. The latter happened through catagenesis in which the reactions were mostly radical rearrangements of kerogen. These reactions took thousands to millions of years and no external reactants were involved. Due to radical nature of these reactions, kerogen reacted towards two classes of products: those with low H/C ratio (anthracene or products similar to it) and those with high H/C ratio (methane or products similar to it); i.e. carbon-rich or hydrogen-rich products. Because catagenesis was closed off from external reactants, the resulting composition of the fuel mixture was dependent on the composition of the kerogen via reaction stoichiometry. 3 main types of kerogen exist: type I (algal), II (liptinic) and III (humic), which were formed mainly from algae, plankton and woody plants (this term includes trees, shrubs and lianas) respectively.[60]

Catagenesis was pyrolytic despite of the fact that it happened at relatively low temperatures (when compared to commercial pyrolysis plants) of 60 to several hundred °C. Pyrolysis was possible because of the long reaction times involved. Heat for catagenesis came from the decomposition of radioactive materials of the crust, especially 40K, 232Th, 235U and 238U. The heat varied with geothermal gradient and was typically 10-30 °C per km of depth from the Earth's surface. Unusual magma intrusions, however, could have created greater localized heating.[60]

Geologists often refer to the temperature range in which oil forms as an "oil window".[62][60] Below the minimum temperature oil remains trapped in the form of kerogen. Above the maximum temperature the oil is converted to natural gas through the process of thermal cracking. Sometimes, oil formed at extreme depths may migrate and become trapped at a much shallower level. The Athabasca Oil Sands are one example of this.[60]

Abiogenic petroleum

An alternative mechanism to the one described above was proposed by Russian scientists in the mid-1850s, the hypothesis of abiogenic petroleum origin (petroleum formed by inorganic means), but this is contradicted by geological and geochemical evidence.[63] Abiogenic sources of oil have been found, but never in commercially profitable amounts. "The controversy isn't over whether abiogenic oil reserves exist," said Larry Nation of the American Association of Petroleum Geologists. "The controversy is over how much they contribute to Earth's overall reserves and how much time and effort geologists should devote to seeking them out."[64]

Reservoirs

Structural Trap (Anticlinal)
Hydrocarbon trap.

Three conditions must be present for oil reservoirs to form:

  • a source rock rich in hydrocarbon material buried deeply enough for subterranean heat to cook it into oil,
  • a porous and permeable reservoir rock where it can accumulate,
  • a caprock (seal) or other mechanism to prevent the oil from escaping to the surface. Within these reservoirs, fluids will typically organize themselves like a three-layer cake with a layer of water below the oil layer and a layer of gas above it, although the different layers vary in size between reservoirs. Because most hydrocarbons are less dense than rock or water, they often migrate upward through adjacent rock layers until either reaching the surface or becoming trapped within porous rocks (known as reservoirs) by impermeable rocks above. However, the process is influenced by underground water flows, causing oil to migrate hundreds of kilometres horizontally or even short distances downward before becoming trapped in a reservoir. When hydrocarbons are concentrated in a trap, an oil field forms, from which the liquid can be extracted by drilling and pumping.

The reactions that produce oil and natural gas are often modeled as first order breakdown reactions, where hydrocarbons are broken down to oil and natural gas by a set of parallel reactions, and oil eventually breaks down to natural gas by another set of reactions. The latter set is regularly used in petrochemical plants and oil refineries.

Wells are drilled into oil reservoirs to extract the crude oil. "Natural lift" production methods that rely on the natural reservoir pressure to force the oil to the surface are usually sufficient for a while after reservoirs are first tapped. In some reservoirs, such as in the Middle East, the natural pressure is sufficient over a long time. The natural pressure in most reservoirs, however, eventually dissipates. Then the oil must be extracted using "artificial lift" means. Over time, these "primary" methods become less effective and "secondary" production methods may be used. A common secondary method is "waterflood" or injection of water into the reservoir to increase pressure and force the oil to the drilled shaft or "wellbore." Eventually "tertiary" or "enhanced" oil recovery methods may be used to increase the oil's flow characteristics by injecting steam, carbon dioxide and other gases or chemicals into the reservoir. In the United States, primary production methods account for less than 40 percent of the oil produced on a daily basis, secondary methods account for about half, and tertiary recovery the remaining 10 percent. Extracting oil (or "bitumen") from oil/tar sand and oil shale deposits requires mining the sand or shale and heating it in a vessel or retort, or using "in-situ" methods of injecting heated liquids into the deposit and then pumping the liquid back out saturated with oil.

Unconventional oil reservoirs

Oil-eating bacteria biodegrade oil that has escaped to the surface. Oil sands are reservoirs of partially biodegraded oil still in the process of escaping and being biodegraded, but they contain so much migrating oil that, although most of it has escaped, vast amounts are still present—more than can be found in conventional oil reservoirs. The lighter fractions of the crude oil are destroyed first, resulting in reservoirs containing an extremely heavy form of crude oil, called crude bitumen in Canada, or extra-heavy crude oil in Venezuela. These two countries have the world's largest deposits of oil sands.

On the other hand, oil shales are source rocks that have not been exposed to heat or pressure long enough to convert their trapped hydrocarbons into crude oil. Technically speaking, oil shales are not always shales and do not contain oil, but are fined-grain sedimentary rocks containing an insoluble organic solid called kerogen. The kerogen in the rock can be converted into crude oil using heat and pressure to simulate natural processes. The method has been known for centuries and was patented in 1694 under British Crown Patent No. 330 covering, "A way to extract and make great quantities of pitch, tar, and oil out of a sort of stone." Although oil shales are found in many countries, the United States has the world's largest deposits.[65]

Classification

Crudes
Some marker crudes with their sulfur content (horizontal) and API gravity (vertical) and relative production quantity.

The petroleum industry generally classifies crude oil by the geographic location it is produced in (e.g. West Texas Intermediate, Brent, or Oman), its API gravity (an oil industry measure of density), and its sulfur content. Crude oil may be considered light if it has low density or heavy if it has high density; and it may be referred to as sweet if it contains relatively little sulfur or sour if it contains substantial amounts of sulfur.

The geographic location is important because it affects transportation costs to the refinery. Light crude oil is more desirable than heavy oil since it produces a higher yield of gasoline, while sweet oil commands a higher price than sour oil because it has fewer environmental problems and requires less refining to meet sulfur standards imposed on fuels in consuming countries. Each crude oil has unique molecular characteristics which are revealed by the use of Crude oil assay analysis in petroleum laboratories.

Barrels from an area in which the crude oil's molecular characteristics have been determined and the oil has been classified are used as pricing references throughout the world. Some of the common reference crudes are:

There are declining amounts of these benchmark oils being produced each year, so other oils are more commonly what is actually delivered. While the reference price may be for West Texas Intermediate delivered at Cushing, the actual oil being traded may be a discounted Canadian heavy oil—Western Canadian Select— delivered at Hardisty, Alberta, and for a Brent Blend delivered at Shetland, it may be a discounted Russian Export Blend delivered at the port of Primorsk.[68]

Petroleum industry

2012 Crude Oil Export Treemap
Crude oil export treemap (2012) from Harvard Atlas of Economic Complexity.[69]
Crude oil price WTI EIA since 2000
New York Mercantile Exchange prices ($/bbl) for West Texas Intermediate 2000 through Oct 2014.

The petroleum industry is involved in the global processes of exploration, extraction, refining, transporting (often with oil tankers and pipelines), and marketing petroleum products. The largest volume products of the industry are fuel oil and gasoline. Petroleum is also the raw material for many chemical products, including pharmaceuticals, solvents, fertilizers, pesticides, and plastics. The industry is usually divided into three major components: upstream, midstream and downstream. Midstream operations are usually included in the downstream category.

Petroleum is vital to many industries, and is of importance to the maintenance of industrialized civilization itself, and thus is a critical concern to many nations. Oil accounts for a large percentage of the world's energy consumption, ranging from a low of 32 percent for Europe and Asia, up to a high of 53 percent for the Middle East, South and Central America (44%), Africa (41%), and North America (40%). The world at large consumes 30 billion barrels (4.8 km3) of oil per year, and the top oil consumers largely consist of developed nations. In fact, 24 percent of the oil consumed in 2004 went to the United States alone,[70] though by 2007 this had dropped to 21 percent of world oil consumed.[71]

In the US, in the states of Arizona, California, Hawaii, Nevada, Oregon and Washington, the Western States Petroleum Association (WSPA) represents companies responsible for producing, distributing, refining, transporting and marketing petroleum. This non-profit trade association was founded in 1907, and is the oldest petroleum trade association in the United States.[72]

Shipping

In the 1950s, shipping costs made up 33 percent of the price of oil transported from the Persian Gulf to the United States,[73] but due to the development of supertankers in the 1970s, the cost of shipping dropped to only 5 percent of the price of Persian oil in the US.[73] Due to the increase of the value of the crude oil during the last 30 years, the share of the shipping cost on the final cost of the delivered commodity was less than 3% in 2010. For example, in 2010 the shipping cost from the Persian Gulf to the US was in the range of 20 $/t and the cost of the delivered crude oil around 800 $/t.

Price

Crude oil prices since 1861
Nominal and inflation-adjusted US dollar price of crude oil, 1861–2015.

After the collapse of the OPEC-administered pricing system in 1985, and a short-lived experiment with netback pricing, oil-exporting countries adopted a market-linked pricing mechanism. First adopted by PEMEX in 1986, market-linked pricing was widely accepted, and by 1988 became and still is the main method for pricing crude oil in international trade. The current reference, or pricing markers, are Brent, WTI, and Dubai/Oman.[74]

Uses

The chemical structure of petroleum is heterogeneous, composed of hydrocarbon chains of different lengths. Because of this, petroleum may be taken to oil refineries and the hydrocarbon chemicals separated by distillation and treated by other chemical processes, to be used for a variety of purposes. The total cost per plant is about 9 billion dollars.

Fuels

The most common distillation fractions of petroleum are fuels. Fuels include (by increasing boiling temperature range):[45]

Common fractions of petroleum as fuels
Fraction Boiling range oC
Liquefied petroleum gas (LPG) −40
Butane −12 to −1
Gasoline/Petrol −1 to 110
Jet fuel 150 to 205
Kerosene 205 to 260
Fuel oil 205 to 290
Diesel fuel 260 to 315

Petroleum classification according to chemical composition.[75]

Class of petroleum Composition of 250–300 °C fraction,
wt. %
Par. Napth Arom. Wax Asph.
Paraffinic 46—61 22–32 12–25 1.5–10 0–6
Paraffinic-naphtenic 42–45 38–39 16–20 1–6 0–6
Naphthenic 15–26 61–76 8–13 Trace 0–6
Paraffinic-naphtenic-aromatic 27–35 36–47 26–33 0.5–1 0–10
Aromatic 0–8 57–78 20–25 0–0.5 0–20

Other derivatives

Certain types of resultant hydrocarbons may be mixed with other non-hydrocarbons, to create other end products:

Agriculture

Since the 1940s, agricultural productivity has increased dramatically, due largely to the increased use of energy-intensive mechanization, fertilizers and pesticides.

Petroleum by country

Consumption statistics

Global Carbon Emissions
Global fossil carbon emissions, an indicator of consumption, from 1800.
  Total
  Oil
Global Carbon Emissions
World energy consumption

Rate of world energy usage per year from 1970.[76]

Oil consumption per day by region from 1980 to 2006

Daily oil consumption from 1980 to 2006.

Oil consumption per day by region from 1980 to 2006 solid3
Oil consumption by percentage of total per region from 1980 to 2006:
  US
  Europe
  Asia and Oceania
.
Oil consumption per day by region from 1980 to 2006 solid3
World oil consumption 1980 to 2007 by region

Oil consumption 1980 to 2007 by region.

Consumption

According to the US Energy Information Administration (EIA) estimate for 2011, the world consumes 87.421 million barrels of oil each day.

OilConsumptionpercapita
Oil consumption per capita (darker colors represent more consumption, gray represents no data) (source: see file description).
   > 0.07
  0.07–0.05
  0.05–0.035
  0.035–0.025
  0.025–0.02
  0.02–0.015
  0.015–0.01
  0.01–0.005
  0.005–0.0015
   < 0.0015

This table orders the amount of petroleum consumed in 2011 in thousand barrels (1000 bbl) per day and in thousand cubic metres (1000 m3) per day:[77][78]

Consuming nation 2011 (1000 bbl/
day)
(1000 m3/
day)
Population
in millions
bbl/year
per capita
m3/year
per capita
National production/
consumption
United States 1 18,835.5 2,994.6 314 21.8 3.47 0.51
China 9,790.0 1,556.5 1345 2.7 0.43 0.41
Japan 2 4,464.1 709.7 127 12.8 2.04 0.03
India 2 3,292.2 523.4 1198 1 0.16 0.26
Russia 1 3,145.1 500.0 140 8.1 1.29 3.35
Saudi Arabia (OPEC) 2,817.5 447.9 27 40 6.4 3.64
Brazil 2,594.2 412.4 193 4.9 0.78 0.99
Germany 2 2,400.1 381.6 82 10.7 1.70 0.06
Canada 2,259.1 359.2 33 24.6 3.91 1.54
South Korea 2 2,230.2 354.6 48 16.8 2.67 0.02
Mexico 1 2,132.7 339.1 109 7.1 1.13 1.39
France 2 1,791.5 284.8 62 10.5 1.67 0.03
Iran (OPEC) 1,694.4 269.4 74 8.3 1.32 2.54
United Kingdom 1 1,607.9 255.6 61 9.5 1.51 0.93
Italy 2 1,453.6 231.1 60 8.9 1.41 0.10

Source: US Energy Information Administration

Population Data:[79]

1 peak production of oil already passed in this state

2 This country is not a major oil producer

Production

Top Oil Producing Countries
Top oil-producing countries (million barrels per day).
Oil producing countries map
World map with countries by oil production (information from 2006–2012).

In petroleum industry parlance, production refers to the quantity of crude extracted from reserves, not the literal creation of the product.

Country Oil Production
(bbl/day, 2016)[80]
1  Russia 10,551,497
2  Saudi Arabia (OPEC) 10,460,710
3  United States 8,875,817
4  Iraq (OPEC) 4,451,516
5  Iran (OPEC) 3,990,956
6  China, People's Republic of 3,980,650
7  Canada 3,662,694
8  United Arab Emirates (OPEC) 3,106,077
9  Kuwait (OPEC) 2,923,825
10  Brazil 2,515,459
11  Venezuela (OPEC) 2,276,967
12  Mexico 2,186,877
13  Nigeria (OPEC) 1,999,885
14  Angola (OPEC) 1,769,615
15  Norway 1,647,975
16  Kazakhstan 1,595,199
17  Qatar (OPEC) 1,522,902
18  Algeria (OPEC) 1,348,361
19  Oman 1,006,841
20  United Kingdom 939,760

Export

2014 Petroleum Countries Export Treemap
Petroleum Exports by Country (2014) from Harvard Atlas of Economic Complexity.
Oil exports
Oil exports by country (barrels per day, 2006).

In order of net exports in 2011, 2009 and 2006 in thousand bbl/d and thousand m3/d:

# Exporting nation 103bbl/d (2011) 103m3/d (2011) 103bbl/d (2009) 103m3/d (2009) 103bbl/d (2006) 103m3/d (2006)
1 Saudi Arabia (OPEC) 8,336 1,325 7,322 1,164 8,651 1,376
2 Russia 1 7,083 1,126 7,194 1,144 6,565 1,044
3 Iran (OPEC) 2,540 403 2,486 395 2,519 401
4 United Arab Emirates (OPEC) 2,524 401 2,303 366 2,515 400
5 Kuwait (OPEC) 2,343 373 2,124 338 2,150 342
6 Nigeria (OPEC) 2,257 359 1,939 308 2,146 341
7 Iraq (OPEC) 1,915 304 1,764 280 1,438 229
8 Angola (OPEC) 1,760 280 1,878 299 1,363 217
9 Norway 1 1,752 279 2,132 339 2,542 404
10 Venezuela (OPEC) 1 1,715 273 1,748 278 2,203 350
11 Algeria (OPEC) 1 1,568 249 1,767 281 1,847 297
12 Qatar (OPEC) 1,468 233 1,066 169
13 Canada 2 1,405 223 1,168 187 1,071 170
14 Kazakhstan 1,396 222 1,299 207 1,114 177
15 Azerbaijan 1 836 133 912 145 532 85
16 Trinidad and Tobago 1 177 112 167 160 155 199

Source: US Energy Information Administration

1 peak production already passed in this state

2 Canadian statistics are complicated by the fact it is both an importer and exporter of crude oil, and refines large amounts of oil for the U.S. market. It is the leading source of U.S. imports of oil and products, averaging 2,500,000 bbl/d (400,000 m3/d) in August 2007.[81]

Total world production/consumption (as of 2005) is approximately 84 million barrels per day (13,400,000 m3/d).

Import

Oil imports
Oil imports by country (barrels per day, 2006).

In order of net imports in 2011, 2009 and 2006 in thousand bbl/d and thousand m3/d:

# Importing nation 103bbl/day (2011) 103m3/day (2011) 103bbl/day (2009) 103m3/day (2009) 103bbl/day (2006) 103m3/day (2006)
1 United States 1 8,728 1,388 9,631 1,531 12,220 1,943
2 China 2 5,487 872 4,328 688 3,438 547
3 Japan 4,329 688 4,235 673 5,097 810
4 India 2,349 373 2,233 355 1,687 268
5 Germany 2,235 355 2,323 369 2,483 395
6 South Korea 2,170 345 2,139 340 2,150 342
7 France 1,697 270 1,749 278 1,893 301
8 Spain 1,346 214 1,439 229 1,555 247
9 Italy 1,292 205 1,381 220 1,558 248
10 Singapore 1,172 186 916 146 787 125
11 Republic of China (Taiwan) 1,009 160 944 150 942 150
12 Netherlands 948 151 973 155 936 149
13 Turkey 650 103 650 103 576 92
14 Belgium 634 101 597 95 546 87
15 Thailand 592 94 538 86 606 96

Source: US Energy Information Administration

1 peak production of oil expected in 2020[82]

2 Major oil producer whose production is still increasing

Oil imports to the United States by country 2010

Oilimportsus2010
Oil imports to US, 2010.

Non-producing consumers

Countries whose oil production is 10% or less of their consumption.

# Consuming nation (bbl/day) (m3/day)
1 Japan 5,578,000 886,831
2 Germany 2,677,000 425,609
3 South Korea 2,061,000 327,673
4 France 2,060,000 327,514
5 Italy 1,874,000 297,942
6 Spain 1,537,000 244,363
7 Netherlands 946,700 150,513
8 Turkey 575,011 91,663

Source: CIA World Factbook

Environmental effects

Dieselrainbow
Diesel fuel spill on a road.

Because petroleum is a naturally occurring substance, its presence in the environment need not be the result of human causes such as accidents and routine activities (seismic exploration, drilling, extraction, refining and combustion). Phenomena such as seeps[83] and tar pits are examples of areas that petroleum affects without man's involvement. Regardless of source, petroleum's effects when released into the environment are similar.

Ocean acidification

Carbonate system of seawater
Seawater acidification.

Ocean acidification is the increase in the acidity of the Earth's oceans caused by the uptake of carbon dioxide (CO2) from the atmosphere. This increase in acidity inhibits all marine life – having a greater impact on smaller organisms as well as shelled organisms (see scallops).[84]

Global warming

When burned, petroleum releases carbon dioxide, a greenhouse gas. Along with the burning of coal, petroleum combustion may be the largest contributor to the increase in atmospheric CO2.[85][86] Atmospheric CO2 has risen over the last 150 years to current levels of over 390 ppmv, from the 180 – 300 ppmv of the prior 800 thousand years[87][88][89] This rise in temperature may have reduced the Arctic ice cap to 1,100,000 sq mi (2,800,000 km2), smaller than ever recorded.[90] Because of this melt, more oil reserves have been revealed. About 13 percent of the world's undiscovered oil resides in the Arctic.[91]

Extraction

Oil extraction is simply the removal of oil from the reservoir (oil pool). Oil is often recovered as a water-in-oil emulsion, and specialty chemicals called demulsifiers are used to separate the oil from water. Oil extraction is costly and sometimes environmentally damaging. Offshore exploration and extraction of oil disturbs the surrounding marine environment.[92]

Oil spills

Oil-spill
Kelp after an oil spill.
Oil Slick in the Timor Sea September-2009
Oil slick from the Montara oil spill in the Timor Sea, September, 2009.
PrestigeVolunteersInGaliciaCoast
Volunteers cleaning up the aftermath of the Prestige oil spill.

Crude oil and refined fuel spills from tanker ship accidents have damaged natural ecosystems in Alaska, the Gulf of Mexico, the Galápagos Islands, France and many other places.

The quantity of oil spilled during accidents has ranged from a few hundred tons to several hundred thousand tons (e.g., Deepwater Horizon oil spill, SS Atlantic Empress, Amoco Cadiz). Smaller spills have already proven to have a great impact on ecosystems, such as the Exxon Valdez oil spill.

Oil spills at sea are generally much more damaging than those on land, since they can spread for hundreds of nautical miles in a thin oil slick which can cover beaches with a thin coating of oil. This can kill sea birds, mammals, shellfish and other organisms it coats. Oil spills on land are more readily containable if a makeshift earth dam can be rapidly bulldozed around the spill site before most of the oil escapes, and land animals can avoid the oil more easily.

Control of oil spills is difficult, requires ad hoc methods, and often a large amount of manpower. The dropping of bombs and incendiary devices from aircraft on the SS Torrey Canyon wreck produced poor results;[93] modern techniques would include pumping the oil from the wreck, like in the Prestige oil spill or the Erika oil spill.[94]

Though crude oil is predominantly composed of various hydrocarbons, certain nitrogen heterocylic compounds, such as pyridine, picoline, and quinoline are reported as contaminants associated with crude oil, as well as facilities processing oil shale or coal, and have also been found at legacy wood treatment sites. These compounds have a very high water solubility, and thus tend to dissolve and move with water. Certain naturally occurring bacteria, such as Micrococcus, Arthrobacter, and Rhodococcus have been shown to degrade these contaminants.[95]

Tarballs

A tarball is a blob of crude oil (not to be confused with tar, which is a man-made product derived from pine trees or refined from petroleum) which has been weathered after floating in the ocean. Tarballs are an aquatic pollutant in most environments, although they can occur naturally, for example in the Santa Barbara Channel of California[96][97] or in the Gulf of Mexico off Texas.[98] Their concentration and features have been used to assess the extent of oil spills. Their composition can be used to identify their sources of origin,[99][100] and tarballs themselves may be dispersed over long distances by deep sea currents.[97] They are slowly decomposed by bacteria, including Chromobacterium violaceum, Cladosporium resinae, Bacillus submarinus, Micrococcus varians, Pseudomonas aeruginosa, Candida marina and Saccharomyces estuari.[96]

Whales

James S. Robbins has argued that the advent of petroleum-refined kerosene saved some species of great whales from extinction by providing an inexpensive substitute for whale oil, thus eliminating the economic imperative for open-boat whaling.[101]

Alternatives to petroleum

In the United States in 2007 about 70 percent of petroleum was used for transportation (e.g. gasoline, diesel, jet fuel), 24 percent by industry (e.g. production of plastics), 5 percent for residential and commercial uses, and 2 percent for electricity production.[102] Outside of the US, a higher proportion of petroleum tends to be used for electricity.[103]

Alternatives to petroleum-based vehicle fuels

Piracicaba 10 2008 151 Gast station selling four fuels
Brazilian fuel station with four alternative fuels for sale: diesel (B3), gasohol (E25), neat ethanol (E100), and compressed natural gas (CNG).

Alternative fuel vehicles refers to both:

Alternatives to using oil in industry

Biological feedstocks do exist for industrial uses such as Bioplastic production.[104]

Alternatives to burning petroleum for electricity

In oil producing countries with little refinery capacity, oil is sometimes burned to produce electricity. Renewable energy technologies such as solar power, wind power, micro hydro, biomass and biofuels are used, but the primary alternatives remain large-scale hydroelectricity, nuclear and coal-fired generation.

Future of petroleum production

US Crude Oil Production and Imports
US oil production and imports, 1910-2012.

Consumption in the twentieth and twenty-first centuries has been abundantly pushed by automobile sector growth. The 1985–2003 oil glut even fueled the sales of low fuel economy vehicles in OECD countries. The 2008 economic crisis seems to have had some impact on the sales of such vehicles; still, in 2008 oil consumption showed a small increase.

In 2016 Goldman Sachs predicted lower demand for oil due to emerging economies concerns, especially China.[105] The BRICS (Brasil, Russia, India, China, South Africa) countries might also kick in, as China briefly was the first automobile market in December 2009.[106] The immediate outlook still hints upwards. In the long term, uncertainties linger; the OPEC believes that the OECD countries will push low consumption policies at some point in the future; when that happens, it will definitely curb oil sales, and both OPEC and the Energy Information Administration (EIA) kept lowering their 2020 consumption estimates during the past five years.[107] A detailed review of International Energy Agency oil projections have revealed that revisions of world oil production, price and investments have been motivated by a combination of demand and supply factors.[108] All together, Non-OPEC conventional projections have been fairly stable the last 15 years, while downward revisions were mainly allocated to OPEC. Recent upward revisions are primarily a result of US tight oil.

Production will also face an increasingly complex situation; while OPEC countries still have large reserves at low production prices, newly found reservoirs often lead to higher prices; offshore giants such as Tupi, Guara and Tiber demand high investments and ever-increasing technological abilities. Subsalt reservoirs such as Tupi were unknown in the twentieth century, mainly because the industry was unable to probe them. Enhanced Oil Recovery (EOR) techniques (example: DaQing, China[109] ) will continue to play a major role in increasing the world's recoverable oil.

The expected availability of petroleum resources has always been around 35 years or even less since the start of the modern exploration. The oil constant, an insider pun in the German industry, refers to that effect.[110]

Peak oil

GlobalPeakOilForecast
Global peak oil forecast.

Peak oil is a term applied to the projection that future petroleum production (whether for individual oil wells, entire oil fields, whole countries, or worldwide production) will eventually peak and then decline at a similar rate to the rate of increase before the peak as these reserves are exhausted. The peak of oil discoveries was in 1965, and oil production per year has surpassed oil discoveries every year since 1980.[111] However, this does not mean that potential oil production has surpassed oil demand.

Hubbert applied his theory to accurately predict the peak of U.S. conventional oil production at a date between 1966 and 1970. This prediction was based on data available at the time of his publication in 1956. In the same paper, Hubbert predicts world peak oil in "half a century" after his publication, which would be 2006.[112]

It is difficult to predict the oil peak in any given region, due to the lack of knowledge and/or transparency in accounting of global oil reserves.[113] Based on available production data, proponents have previously predicted the peak for the world to be in years 1989, 1995, or 1995–2000. Some of these predictions date from before the recession of the early 1980s, and the consequent reduction in global consumption, the effect of which was to delay the date of any peak by several years. Just as the 1971 U.S. peak in oil production was only clearly recognized after the fact, a peak in world production will be difficult to discern until production clearly drops off.[114] The peak is also a moving target as it is now measured as "liquids", which includes synthetic fuels, instead of just conventional oil.[115]

The International Energy Agency (IEA) said in 2010 that production of conventional crude oil had peaked in 2006 at 70 MBBL/d, then flattened at 68 or 69 thereafter.[116][117] Since virtually all economic sectors rely heavily on petroleum, peak oil, if it were to occur, could lead to a "partial or complete failure of markets".[118] In the mid-2000s, widespread fears of an imminent peak led to the "peak oil movement," in which over one hundred thousand Americans prepared, individually and collectively, for the "post-carbon" future.[119]

Unconventional production

Unconventional oil is petroleum produced or extracted using techniques other than the conventional methods.[120][121] The calculus for peak oil has changed with the introduction of unconventional production methods. In particular, the combination of horizontal drilling and hydraulic fracturing has resulted in a significant increase in production from previously uneconomic plays.[122] Analysts expected that $150 billion would be spent on further developing North American tight oil fields in 2015. The large increase in tight oil production is one of the reasons behind the price drop in late 2014.[123] Certain rock strata contain hydrocarbons but have low permeability and are not thick from a vertical perspective. Conventional vertical wells would be unable to economically retrieve these hydrocarbons. Horizontal drilling, extending horizontally through the strata, permits the well to access a much greater volume of the strata. Hydraulic fracturing creates greater permeability and increases hydrocarbon flow to the wellbore.

See also

Notes

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References

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Further reading

External links

BP

BP plc (formerly The British Petroleum Company plc, British Petroleum and BP Amoco plc) is a British multinational oil and gas company headquartered in London, England. It is one of the world's seven oil and gas "supermajors", whose performance in 2012 made it the world's sixth-largest oil and gas company, the sixth-largest energy company by market capitalization and the company with the world's 12th-largest revenue (turnover). It is a vertically integrated company operating in all areas of the oil and gas industry, including exploration and production, refining, distribution and marketing, petrochemicals, power generation and trading. It also has renewable energy interests in biofuels and wind power.

As of 31 December 2017, BP had operations in 70 countries worldwide, produced around 3.6 million barrels per day (570,000 m3/d) of oil equivalent, and had total proved reserves of 18.441 billion barrels (2.9319×109 m3) of oil equivalent. The company has around 18,300 service stations worldwide. Its largest division is BP America in the United States. In Russia, BP owns a 19.75% stake in Rosneft, the world's largest publicly traded oil and gas company by hydrocarbon reserves and production. BP has a primary listing on the London Stock Exchange and is a constituent of the FTSE 100 Index. It has secondary listings on the Frankfurt Stock Exchange and the New York Stock Exchange.

BP's origins date back to the founding of the Anglo-Persian Oil Company in 1908, established as a subsidiary of Burmah Oil Company to exploit oil discoveries in Iran. In 1935, it became the Anglo-Iranian Oil Company and in 1954 British Petroleum. In 1959, the company expanded beyond the Middle East to Alaska and it was one of the first companies to strike oil in the North Sea. British Petroleum acquired majority control of Standard Oil of Ohio in 1978. Formerly majority state-owned, the British government privatised the company in stages between 1979 and 1987. British Petroleum merged with Amoco in 1998, becoming BP Amoco plc, and acquired ARCO and Burmah Castrol in 2000, becoming BP plc in 2001. From 2003 to 2013, BP was a partner in the TNK-BP joint venture in Russia.

BP has been directly involved in several major environmental and safety incidents. Among them were the 2005 Texas City Refinery explosion, which caused the death of 15 workers and resulted in a record-setting OSHA fine; Britain's largest oil spill, the wreck of Torrey Canyon in 1967; and the 2006 Prudhoe Bay oil spill, the largest oil spill on Alaska's North Slope, which resulted in a US$25 million civil penalty, the largest per-barrel penalty at that time for an oil spill.The 2010 Deepwater Horizon oil spill, the largest accidental release of oil into marine waters in history, resulted in severe environmental, health and economic consequences, and serious legal and public relations repercussions for BP. 1.8 million US gallons (43,000 bbl; 6,800 m3) of Corexit oil dispersant were used in the cleanup response, becoming the largest application of such chemicals in US history. The company pleaded guilty to 11 counts of felony manslaughter, two misdemeanors, one felony count of lying to Congress, and agreed to pay more than $4.5 billion in fines and penalties, the largest criminal resolution in US history. On 2 July 2015, BP and five states announced an $18.7 billion settlement to be used for Clean Water Act penalties and various claims.

Diesel fuel

Diesel fuel in general is any liquid fuel used in diesel engines, whose fuel ignition takes place, without any spark, as a result of compression of the inlet air mixture and then injection of fuel. (Glow plugs, grid heaters and block heaters help achieve high temperatures for combustion during engine startup in cold weather.) Diesel engines have found broad use as a result of higher thermodynamic efficiency and thus fuel efficiency. This is particularly noted where diesel engines are run at part-load; as their air supply is not throttled as in a petrol engine, their efficiency still remains very high.

The most common type of diesel fuel is a specific fractional distillate of petroleum fuel oil, but alternatives that are not derived from petroleum, such as biodiesel, biomass to liquid (BTL) or gas to liquid (GTL) diesel, are increasingly being developed and adopted. To distinguish these types, petroleum-derived diesel is increasingly called petrodiesel. Ultra-low-sulfur diesel (ULSD) is a standard for defining diesel fuel with substantially lowered sulfur contents. As of 2016, almost all of the petroleum-based diesel fuel available in the UK, mainland Europe, and North America is of a ULSD type. In the UK, diesel fuel for on-road use is commonly abbreviated DERV, standing for diesel-engined road vehicle, which carries a tax premium over equivalent fuel for non-road use. In Australia, diesel fuel is also known as distillate, and in Indonesia, it is known as Solar, a trademarked name by the local oil company Pertamina.

Hydrocarbon

In organic chemistry, a hydrocarbon is an organic compound consisting entirely of hydrogen and carbon. Hydrocarbons are examples of group 14 hydrides. Hydrocarbons from which one hydrogen atom has been removed are functional groups called hydrocarbyls. Because carbon has 4 electrons in its outermost shell (and because each covalent bond requires a donation of 1 electron, per atom, to the bond) carbon has exactly four bonds to make, and is only stable if all 4 of these bonds are used.

Aromatic hydrocarbons (arenes), alkanes, cycloalkanes and alkyne-based compounds are different types of hydrocarbons.

Most hydrocarbons found on Earth naturally occur in crude oil, where decomposed organic matter provides an abundance of carbon and hydrogen which, when bonded, can catenate to form seemingly limitless chains.

Kerosene

Kerosene, also known as paraffin, lamp oil, and coal oil (an obsolete term), is a combustible hydrocarbon liquid which is derived from petroleum. It is widely used as a fuel in industry as well as households. Its name derives from Greek: κηρός (keros) meaning wax, and was registered as a trademark by Canadian geologist and inventor Abraham Gesner in 1854 before evolving into a genericized trademark. It is sometimes spelled kerosine in scientific and industrial usage. The term kerosene is common in much of Argentina, Australia, Canada, India, New Zealand, and the United States, while the term paraffin (or a closely related variant) is used in Chile, eastern Africa, South Africa, Norway, and in the United Kingdom. The term lamp oil, or the equivalent in the local languages, is common in the majority of Asia. Liquid paraffin (called mineral oil in the US) is a more viscous and highly refined product which is used as a laxative. Paraffin wax is a waxy solid extracted from petroleum.

Kerosene is widely used to power jet engines of aircraft (jet fuel) and some rocket engines and is also commonly used as a cooking and lighting fuel and for fire toys such as poi. In parts of Asia, kerosene is sometimes used as fuel for small outboard motors or even motorcycles. World total kerosene consumption for all purposes is equivalent to about 1.2 million barrels (50 million U.S. gallons; 42 million imperial gallons; 190 million liters) per day.To prevent confusion between kerosene and the much more flammable and volatile gasoline, some jurisdictions regulate markings or colorings for containers used to store or dispense kerosene. For example, in the United States, Pennsylvania requires that portable containers used at retail service stations for kerosene be colored blue, as opposed to red (for gasoline) or yellow (for diesel fuel).

Liquefied petroleum gas

Liquefied petroleum gas or liquid petroleum gas (LPG or LP gas), also referred to as simply propane or butane, are flammable mixtures of hydrocarbon gases used as fuel in heating appliances, cooking equipment, and vehicles.

It is increasingly used as an aerosol propellant and a refrigerant, replacing chlorofluorocarbons in an effort to reduce damage to the ozone layer. When specifically used as a vehicle fuel it is often referred to as autogas.

Varieties of LPG bought and sold include mixes that are mostly propane (C3H8), mostly butane (C4H10) and, most commonly, mixes including both propane and butane. In the northern hemisphere winter, the mixes contain more propane, while in summer, they contain more butane. In the United States, mainly two grades of LPG are sold: commercial propane and HD-5. These specifications are published by the Gas Processors Association (GPA) and the American Society of Testing and Materials (ASTM). Propane/butane blends are also listed in these specifications.

Propylene, butylenes and various other hydrocarbons are usually also present in small concentrations. HD-5 limits the amount of propylene that can be placed in LPG to 5%, and is utilized as an autogas specification. A powerful odorant, ethanethiol, is added so that leaks can be detected easily. The internationally recognized European Standard is EN 589. In the United States, tetrahydrothiophene (thiophane) or amyl mercaptan are also approved odorants, although neither is currently being utilized.

LPG is prepared by refining petroleum or "wet" natural gas, and is almost entirely derived from fossil fuel sources, being manufactured during the refining of petroleum (crude oil), or extracted from petroleum or natural gas streams as they emerge from the ground. It was first produced in 1910 by Dr. Walter Snelling, and the first commercial products appeared in 1912. It currently provides about 3% of all energy consumed, and burns relatively cleanly with no soot and very few sulfur emissions. As it is a gas, it does not pose ground or water pollution hazards, but it can cause air pollution. LPG has a typical specific calorific value of 46.1 MJ/kg compared with 42.5 MJ/kg for fuel oil and 43.5 MJ/kg for premium grade petrol (gasoline). However, its energy density per volume unit of 26 MJ/L is lower than either that of petrol or fuel oil, as its relative density is lower (about 0.5–0.58 kg/L, compared to 0.71–0.77 kg/L for gasoline).

As its boiling point is below room temperature, LPG will evaporate quickly at normal temperatures and pressures and is usually supplied in pressurised steel vessels. They are typically filled to 80–85% of their capacity to allow for thermal expansion of the contained liquid. The ratio between the volumes of the vaporized gas and the liquefied gas varies depending on composition, pressure, and temperature, but is typically around 250:1. The pressure at which LPG becomes liquid, called its vapour pressure, likewise varies depending on composition and temperature; for example, it is approximately 220 kilopascals (32 psi) for pure butane at 20 °C (68 °F), and approximately 2,200 kilopascals (320 psi) for pure propane at 55 °C (131 °F). LPG is heavier than air, unlike natural gas, and thus will flow along floors and tend to settle in low spots, such as basements. There are two main dangers from this. The first is a possible explosion if the mixture of LPG and air is within the explosive limits and there is an ignition source. The second is suffocation due to LPG displacing air, causing a decrease in oxygen concentration.

List of oil exploration and production companies

The following is a list of notable companies in the petroleum industry that are engaged in petroleum exploration and production. The list is in alphabetical order by continent and then by country. This list does not include companies only involved in refining and marketing.

OPEC

The Organization of the Petroleum Exporting Countries (OPEC, OH-pek) is an intergovernmental organisation of 14 nations, founded in 1960 in Baghdad by the first five members (Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela), and headquartered since 1965 in Vienna, Austria. As of September 2018, the then 15 member countries accounted for an estimated 44 percent of global oil production and 81.5 percent of the world's "proven" oil reserves, giving OPEC a major influence on global oil prices that were previously determined by the so called "Seven Sisters” grouping of multinational oil companies.

The stated mission of the organisation is to "coordinate and unify the petroleum policies of its member countries and ensure the stabilization of oil markets, in order to secure an efficient, economic and regular supply of petroleum to consumers, a steady income to producers, and a fair return on capital for those investing in the petroleum industry." The organization is also a significant provider of information about the international oil market. The current OPEC members are the following: Algeria, Angola, Ecuador, Equatorial Guinea, Gabon, Iran, Iraq, Kuwait, Libya, Nigeria, the Republic of the Congo, Saudi Arabia (the de facto leader), United Arab Emirates, and Venezuela. Indonesia and Qatar are former members.

The formation of OPEC marked a turning point toward national sovereignty over natural resources, and OPEC decisions have come to play a prominent role in the global oil market and international relations. The effect can be particularly strong when wars or civil disorders lead to extended interruptions in supply. In the 1970s, restrictions in oil production led to a dramatic rise in oil prices and in the revenue and wealth of OPEC, with long-lasting and far-reaching consequences for the global economy. In the 1980s, OPEC began setting production targets for its member nations; generally, when the targets are reduced, oil prices increase. This has occurred most recently from the organization's 2008 and 2016 decisions to trim oversupply.

Economists often cite OPEC as a textbook example of a cartel that cooperates to reduce market competition, but one whose consultations are protected by the doctrine of state immunity under international law. In December 2014, "OPEC and the oil men" ranked as #3 on Lloyd's list of "the top 100 most influential people in the shipping industry". However, the influence of OPEC on international trade is periodically challenged by the expansion of non-OPEC energy sources, and by the recurring temptation for individual OPEC countries to exceed production targets and pursue conflicting self-interests.

Occidental Petroleum

Occidental Petroleum Corporation (often abbreviated Oxy in reference to its ticker symbol) is an American multinational petroleum and natural gas exploration and production company incorporated in Delaware and headquartered in Houston, Texas with operations in the United States, the Middle East, and Latin America. The company is ranked 722nd on the Forbes Global 2000 and 220th on the 2018 Fortune 500.In 2017, the company was the third largest petroleum producer and 21st largest natural gas producer in Texas.

Oil refinery

Oil refinery or petroleum refinery is an industrial process plant where crude oil is transformed and refined into more useful products such as petroleum naphtha, gasoline, diesel fuel, asphalt base, heating oil, kerosene, liquefied petroleum gas, jet fuel and fuel oils. Petrochemicals feed stock like ethylene and propylene can also be produced directly by cracking crude oil without the need of using refined products of crude oil such as naphtha.Oil refineries are typically large, sprawling industrial complexes with extensive piping running throughout, carrying streams of fluids between large chemical processing units, such as distillation columns. In many ways, oil refineries use much of the technology of, and can be thought of, as types of chemical plants.

The crude oil feedstock has typically been processed by an oil production plant. There is usually an oil depot at or near an oil refinery for the storage of incoming crude oil feedstock as well as bulk liquid products.

Petroleum refineries are very large industrial complexes that involve many different processing units and auxiliary facilities such as utility units and storage tanks. Each refinery has its own unique arrangement and combination of refining processes largely determined by the refinery location, desired products and economic considerations.

An oil refinery is considered an essential part of the downstream side of the petroleum industry.

Some modern petroleum refineries process as much as 800,000 to 900,000 barrels (127,000 to 143,000 cubic meters) of crude oil per day.

According to the Oil and Gas Journal in the world a total of 636 refineries were operated on the 31 December 2014 for a total capacity of 87.75 million barrels (13,951,000 m3).

Jamnagar Refinery is the largest oil refinery, since 25 December 2008, with a processing capacity of 1.24 million barrels (197,000 m3). Located in Gujarat, India, it is owned by Reliance Industries.

Petrochemical

Petrochemicals (also known as petroleum distillates) are chemical products derived from petroleum. Some chemical compounds made from petroleum are also obtained from other fossil fuels, such as coal or natural gas, or renewable sources such as corn, palm fruit or sugar cane.

The two most common petrochemical classes are olefins (including ethylene and propylene) and aromatics (including benzene, toluene and xylene isomers).

Oil refineries produce olefins and aromatics by fluid catalytic cracking of petroleum fractions. Chemical plants produce olefins by steam cracking of natural gas liquids like ethane and propane. Aromatics are produced by catalytic reforming of naphtha. Olefins and aromatics are the building-blocks for a wide range of materials such as solvents, detergents, and adhesives. Olefins are the basis for polymers and oligomers used in plastics, resins, fibers, elastomers, lubricants, and gels.Global ethylene and propylene production are about 115 million tonnes and 70 million tonnes per annum, respectively. Aromatics production is approximately 70 million tonnes. The largest petrochemical industries are located in the USA and Western Europe; however, major growth in new production capacity is in the Middle East and Asia. There is substantial inter-regional petrochemical trade.

Primary petrochemicals are divided into three groups depending on their chemical structure:

Olefins includes Ethene, Propene, Butenes and butadiene. Ethylene and propylene are important sources of industrial chemicals and plastics products. Butadiene is used in making synthetic rubber.

Aromatics includes Benzene, toluene and xylenes, as a whole referred to as BTX and primarily obtained from petroleum refineries by extraction from the reformate produced in catalytic reformers using Naphtha obtained from petroleum refineries. Benzene is a raw material for dyes and synthetic detergents, and benzene and toluene for isocyanates MDI and TDI used in making polyurethanes. Manufacturers use xylenes to produce plastics and synthetic fibers.

Synthesis gas is a mixture of carbon monoxide and hydrogen used to make ammonia and methanol. Ammonia is used to make the fertilizer urea and methanol is used as a solvent and chemical intermediate. Steam crackers are not to be confused with steam reforming plants used to produce hydrogen and ammonia.

Methane, ethane, propane and butanes obtained primarily from natural gas processing plants.

Methanol and formaldehyde.In 2007, the amounts of ethylene and propylene produced in steam crackers were about 115 Mt (megatonnes) and 70 Mt, respectively. The output ethylene capacity of large steam crackers ranged up to as much as 1.0 – 1.5 Mt per year.

The adjacent diagram schematically depicts the major hydrocarbon sources and processes used in producing petrochemicals.

Like commodity chemicals, petrochemicals are made on a very large scale. Petrochemical manufacturing units differ from commodity chemical plants in that they often produce a number of related products. Compare this with specialty chemical and fine chemical manufacture where products are made in discrete batch processes.

Petrochemicals are predominantly made in a few manufacturing locations around the world, for example in Jubail & Yanbu Industrial Cities in Saudi Arabia, Texas & Louisiana in the US, in Teesside in the Northeast of England in the United Kingdom, in Rotterdam in the Netherlands, and in Jamnagar & Dahej in Gujarat, India. Not all of the petrochemical or commodity chemical materials produced by the chemical industry are made in one single location but groups of related materials are often made in adjacent manufacturing plants to induce industrial symbiosis as well as material and utility efficiency and other economies of scale. This is known in chemical engineering terminology as integrated manufacturing. Speciality and fine chemical companies are sometimes found in similar manufacturing locations as petrochemicals but, in most cases, they do not need the same level of large scale infrastructure (e.g., pipelines, storage, ports and power, etc.) and therefore can be found in multi-sector business parks.

The large scale petrochemical manufacturing locations have clusters of manufacturing units that share utilities and large scale infrastructure such as power stations, storage tanks, port facilities, road and rail terminals. In the United Kingdom for example, there are 4 main locations for such manufacturing: near the River Mersey in Northwest England, on the Humber on the East coast of Yorkshire, in Grangemouth near the Firth of Forth in Scotland and in Teesside as part of the Northeast of England Process Industry Cluster (NEPIC). To demonstrate the clustering and integration, some 50% of the United Kingdom's petrochemical and commodity chemicals are produced by the NEPIC industry cluster companies in Teesside.

Petrol engine

A petrol engine (known as a gasoline engine in American English) is an internal combustion engine with spark-ignition, designed to run on petrol (gasoline) and similar volatile fuels.

In most petrol engines, the fuel and air are usually mixed after compression (although some modern petrol engines now use cylinder-direct petrol injection). The pre-mixing was formerly done in a carburetor, but now it is done by electronically controlled fuel injection, except in small engines where the cost/complication of electronics does not justify the added engine efficiency. The process differs from a diesel engine in the method of mixing the fuel and air, and in using spark plugs to initiate the combustion process. In a diesel engine, only air is compressed (and therefore heated), and the fuel is injected into very hot air at the end of the compression stroke, and self-ignites.

Petroleum engineering

For petroleum refinery engineering, see Process engineering.

Petroleum engineering is a field of engineering concerned with the activities related to the production of hydrocarbons, which can be either crude oil or natural gas. Exploration and production are deemed to fall within the upstream sector of the oil and gas industry. Exploration, by earth scientists, and petroleum engineering are the oil and gas industry's two main subsurface disciplines, which focus on maximizing economic recovery of hydrocarbons from subsurface reservoirs. Petroleum geology and geophysics focus on provision of a static description of the hydrocarbon reservoir rock, while petroleum engineering focuses on estimation of the recoverable volume of this resource using a detailed understanding of the physical behavior of oil, water and gas within porous rock at very high pressure.

The combined efforts of geologists and petroleum engineers throughout the life of a hydrocarbon accumulation determine the way in which a reservoir is developed and depleted, and usually they have the highest impact on field economics. Petroleum engineering requires a good knowledge of many other related disciplines, such as geophysics, petroleum geology, formation evaluation (well logging), drilling, economics, reservoir simulation, reservoir engineering, well engineering, artificial lift systems, completions and petroleum production engineering.

Recruitment to the industry has historically been from the disciplines of physics, chemical engineering and mining engineering. Subsequent development training has usually been done within oil companies.

Petroleum industry

The petroleum industry, also known as the oil industry or the oil patch, includes the global processes of exploration, extraction, refining, transporting (often by oil tankers and pipelines), and marketing of petroleum products. The largest volume products of the industry are fuel oil and gasoline (petrol). Petroleum (oil) is also the raw material for many chemical products, including pharmaceuticals, solvents, fertilizers, pesticides, synthetic fragrances, and plastics. The extreme monetary value of oil and its products has led to it being known as "black gold". The industry is usually divided into three major components: upstream, midstream, and downstream.

Petroleum is vital to many industries, and is necessary for the maintenance of industrial civilization in its current configuration, making it a critical concern for many nations. Oil accounts for a large percentage of the world’s energy consumption, ranging from a low of 32% for Europe and Asia, to a high of 53% for the Middle East.

Other geographic regions' consumption patterns are as follows: South and Central America (44%), Africa (41%), and North America (40%). The world consumes 30 billion barrels (4.8 km³) of oil per year, with developed nations being the largest consumers. The United States consumed 25% of the oil produced in 2007. The production, distribution, refining, and retailing of petroleum taken as a whole represents the world's largest industry in terms of dollar value.

Governments such as the United States government provide a heavy public subsidy to petroleum companies, with major tax breaks at virtually every stage of oil exploration and extraction, including the costs of oil field leases and drilling equipment.In recent years, enhanced oil recovery techniques — most notably multi-stage drilling and hydraulic fracturing ("fracking") — have moved to the forefront of the industry as this new technology plays a crucial and controversial role in new methods of oil extraction.

Petroleum jelly

Petroleum jelly, petrolatum, white petrolatum, soft paraffin, or multi-hydrocarbon, CAS number 8009-03-8, is a semi-solid mixture of hydrocarbons (with carbon numbers mainly higher than 25), originally promoted as a topical ointment for its healing properties.

After petroleum jelly became a medicine chest staple, consumers began to use it for many ailments, as well as cosmetic purposes, including toenail fungus, genital rashes (non-STD), nosebleeds, diaper rash, and chest colds. Its folkloric medicinal value as a "cure-all" has since been limited by better scientific understanding of appropriate and inappropriate uses. It is recognized by the U.S. Food and Drug Administration (FDA) as an approved over-the-counter (OTC) skin protectant and remains widely used in cosmetic skin care.

Petroleum reservoir

A petroleum reservoir or oil and gas reservoir is a subsurface pool of hydrocarbons contained in porous or fractured rock formations. Petroleum reservoirs are broadly classified as conventional and unconventional reservoirs. In case of conventional reservoirs, the naturally occurring hydrocarbons, such as crude oil or natural gas, are trapped by overlying rock formations with lower permeability. While in unconventional reservoirs the rocks have high porosity and low permeability which keeps the hydrocarbons trapped in place, therefore not requiring a cap rock. Reservoirs are found using hydrocarbon exploration methods.

Price of oil

The price of oil, or the oil price, (generally) refers to the spot price of a barrel of benchmark crude oil—a reference price for buyers and sellers of crude oil such as West Texas Intermediate (WTI), Brent ICE, Dubai Crude, OPEC Reference Basket, Tapis Crude, Bonny Light, Urals oil, Isthmus and Western Canadian Select (WCS). There is a differential in the price of a barrel of oil based on its grade—determined by factors such as its specific gravity or API and its sulphur content—and its location—for example, its proximity to tidewater and/or refineries. Heavier, sour crude oils lacking in tidewater access—such as Western Canadian Select—are less expensive than lighter, sweeter oil—such as WTI.

Royal Dutch Shell

Royal Dutch Shell plc (LSE: RDSA, RDSB), commonly known as Shell, is a British-Dutch oil and gas company headquartered in the Netherlands and incorporated in the United Kingdom. It is one of the six oil and gas "supermajors" and the fifth-largest company in the world measured by 2018 revenues (and the largest based in Europe). Shell was first in the 2013 Fortune Global 500 list of the world's largest companies; in that year its revenues were equivalent to 84% of the Dutch national $556 billion GDP.Shell is vertically integrated and is active in every area of the oil and gas industry, including exploration and production, refining, transport, distribution and marketing, petrochemicals, power generation and trading. It also has renewable energy activities, including in biofuels, wind and hydrogen. Shell has operations in over 70 countries, produces around 3.7 million barrels of oil equivalent per day and has 44,000 service stations worldwide. As of 31 December 2014, Shell had total proved reserves of 13.7 billion barrels (2.18×109 m3) of oil equivalent. Shell Oil Company, its principal subsidiary in the United States, is one of its largest businesses. Shell holds 50% of Raízen, a joint venture with Cosan, which is the third-largest Brazil-based energy company by revenues and a major producer of ethanol.Shell was formed in 1907 through the amalgamation of the Royal Dutch Petroleum Company of the Netherlands and the "Shell" Transport and Trading Company of the United Kingdom. Until its unification in 2005 the firm operated as a dual-listed company, whereby the British and Dutch companies maintained their legal existence but operated as a single-unit partnership for business purposes. Shell first entered the chemicals industry in 1929. In 1970 Shell acquired the mining company Billiton, which it subsequently sold in 1994 and now forms part of BHP Billiton. In recent decades gas exploration and production has become an increasingly important part of Shell's business. Shell acquired BG Group in 2016, making it the world's largest producer of liquefied natural gas (LNG).Shell has a primary listing on the London Stock Exchange and is a constituent of the FTSE 100 Index. It had a market capitalisation of £185 billion at the close of trading on 30 December 2016, by far the largest of any company listed on the London Stock Exchange and among the highest of any company in the world. It has secondary listings on Euronext Amsterdam and the New York Stock Exchange. As of January 2013, Shell's largest shareholder was Capital Research Global Investors with 9.85% ahead of BlackRock in second with 6.89%.

Sinopec

China Petroleum & Chemical Corporation (中国石油化工股份有限公司), or Sinopec (simplified Chinese: 中国石化; traditional Chinese: 中國石化; pinyin: Zhōngguó Shíhuà), is a Chinese oil and gas enterprise based in Beijing, China. It is listed in Hong Kong and also trades in Shanghai and New York.

Sinopec Limited's parent, Sinopec Group, is the world's largest oil refining, gas and petrochemical conglomerate, headquartered in Chaoyang District, Beijing. Sinopec's business includes oil and gas exploration, refining, and marketing; production and sales of petrochemicals, chemical fibers, chemical fertilizers, and other chemical products; storage and pipeline transportation of crude oil and natural gas; import, export and import/export agency business of crude oil, natural gas, refined oil products, petrochemicals, and other chemicals.

Vaseline

Vaseline is an American brand of petroleum jelly-based products owned by British-Dutch company Unilever. Products include plain petroleum jelly and a selection of skin creams, soaps, lotions, cleansers, and deodorants.

In many languages, the word "Vaseline" is used as generic for petroleum jelly; in Portuguese and some Spanish-speaking countries, the Unilever products are called Vasenol.

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