Petroleum as a Mineral Resource

Petroleum is called liquid gold. It is so called to imply its significance. It shows that the petroleum is as significant as gold and also tells us that it is as difficult as finding gold. Without petroleum world’s economy would collapse. It is the main source of energy for transportation sector.

Coal and petroleum are categorised as fuel minerals. Fuel minerals are mainly three types namely coal, petroleum and natural gas. These are carbonaceous fuels. These are extracted from earth and are formed by fossil decomposition and are hence called fossil fuels. These fuels form major source of energy.

Oil refining (fractional distillation) separates crude oil into products like petrol, diesel, kerosene, and lubricants. Hydrogen gas is typically produced via steam reforming or other chemical processes, not directly from oil refining.

Petroleum is a fossil fuel and carbonaceous fuel. These are extracted from the earth and are formed by fossil decomposition and are hence called fossil fuels. These fuels form a major source of energy.

Saudi Arabia is consistently one of the world's largest producers and exporters of crude oil, holding some of the largest proven oil reserves.

Venezuela holds the world's largest proven oil reserves and is a major producer of petroleum in South America.

• Petroleum, like coal and natural gas, is a non-renewable source of energy.
  
•  It took millions of years for it to form, and when it is extracted and consumed, there is no way for us to replace it.
  
•  Oil supplies will run out.

Petroleum is known as Liquid Gold because of its high value in the market. It also serves directly or indirectly as a source for many organic products which are useful to humans. Like gold, it is expensive and difficult to find.

The word
petroleum is
derived from
Latin words
–Petra meaning
rock, oleum
meaning oil. So,
petroleum means rock oil.

Petroleum is often referred to as liquid gold due to its high economic value and its critical role in the global economy.

Historically, ancient civilizations, including the Egyptians, used naturally occurring petroleum (bitumen) for medicinal purposes, such as balms for pain relief and embalming.

Petroleum is a fossil fuel formed from the remains of ancient marine plants and animals that were buried under layers of sediment and subjected to high heat and pressure over millions of years.

Historically, early records indicate that people in Japan used naturally occurring oil (seeping from the ground) as a fuel source for lighting and heating.

The word
petroleum is
derived from
Latin words
–Petra meaning
rock, oleum
meaning oil.

Fossil fuels are hydrocarbons, primarily coal, fuel oil or natural gas, formed from the remains of dead plants and animals.

The term "Petroleum" is derived from two Latin words "Petr" and"Oleum". Here "Petra" means "rock" and "Oleum" means "Oil". Thus the word petroleum means rock oil. Petroleum is a fossil fuel as it has been created by the decomposition of organic matter over millions of years. It is a mixture of petrol, diesel, wax, kerosene, plastic, and lubricants.

Middle East is the largest oil producing region in the world holding a 35% market share in 2016. Led by Iran, Iraq and Saudi Arabia, it is also one of the top regions that is expected to increase its oil production by 2020.

Both Venezuela and Colombia are significant oil-producing nations located in or near the Caribbean region.

The Canadian petroleum industry developed in parallel with that of the United States. The first oil well in Canada was dug by hand (rather than drilled) in 1858 by James Miller Williams near his asphalt plant at Oil Springs,Ontario.

Petroleum is found
between the layers of rocks and is drilled from oil fields
located in off-shore and coastal areas. This is then sent to refineries which process the crude oil and produce
a variety of products like diesel, petrol, kerosene, wax,
plastics and lubricants.

crude oil is a naturally occurring, unrefined petroleum product composed of hydrocarbon deposits and other organic materials. A type of fossil fuel, crude oil can be refined to produce usable products such as gasoline, diesel and various forms of petrochemicals.

Qatif, Ghawar (often spelled Ghabar), and Dhahran are all major oil fields or hubs in Saudi Arabia.

he Kingdom of Saudi Arabia is often cited as the world's largest oil producer. The country produces 13.24% of the oil consumed in the entire world daily. Saudi Arabia has the second-largest reserves of naturally occurring oil in the world after Venezuela. It is estimated that Saudi Arabia's oil resources amount to 260 billion barrels of oil.

Petroleum products are materials derived from crude oil as it is processed in oil refineries. Petrol,Wax,Vaseline etc,are the products of the Crude oil.

Petroleum or mineral oil is the next major
energy source in India after coal. It provides
fuel for heat and lighting, lubricants for
machinery and raw materials for a number of
manufacturing industries. 

The Institute of Reservoir Studies (IRS), a part of ONGC, is located in Ahmedabad, India.