Tag: mineral fuels

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.