Petroleum Industry

Shopping on line can be easy, simple and save you lots of money. It can also take a lot of your time, frustrate you, and result in unwanted purchases. Now the same can be said for regular high street shopping, but with the vast opportunity presented by the Internet it will pay you to spend a few minutes reading this and understanding how to better optimize your Petroleum Industry shopping experience:

1. Compare - without doubt the biggest advantage that the Petroleum Industry offers shoppers today is the ability to compare thousands of Petroleum Industry at a time. This is a great thing, but not necessarily all the time! Too much can be daunting at times so take advantage of the great comparison sites and where possible let them do the hard work for you.

2. Research - if it has been said it will be on the internet. Ignorance is no longer a justifiable reason for buying the wrong thing. Take the time to research in detail everything that you could possible want to know about

3. Testimonials - don't know anybody that has bought a Petroleum Industry? Wrong! If the Petroleum Industry is good the internet will let you know. Use the Internet as a friend and get testimonials before you buy.

4. Questions - Got a question about Petroleum Industry then search the Forums, FAQ's, Blogs etc. Don't be afraid to ask .....

5. Reputation - Never heard of the company selling Petroleum Industry? Don't worry, no reason why you should know every company in the world, but you know someone that does! Use the internet to find out what people are saying about Petroleum Industry and build up a picture of their reputation for sales, returns, customer service, delivery etc.

6. Returns - still worried that even after all of the above your Petroleum Industry wont be what you want? Check out the returns policy. There is so much competition now that someone, somewhere is bound to offer the terms that you are comfortable with.

7. Feedback - happy with your Petroleum Industry then let people know, after all you are depending on others people input in your buying decision, so why not give a little back.

8. Security - check for the yellow padlock on the Petroleum Industry site before you buy, and the s after http:/ /i.e. https:// = a secure site

9. Contact - got a question about Petroleum Industry, or want to leave a comment then check out the sites contact page. Reputable companies have them and respond.

10. Payment - ready to pay for your Petroleum Industry, then use your credit card or PayPal! Be aware of companies that don't accept them, there may be genuine reasons but given the huge amount of choice you have when buying online there is no reason at all not to buy via credit card or PayPal.

The petroleum industry operates on the petroleum market. Petroleum is vital to nearly all other industries, if not industrialized civilization itself, and thus is critical concern to many nations. Oil accounts for a large percentage of the world’s energy consumption, ranging from a low of 32% for Europe and Asia, up 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 at large consumes 30 billion Barrel (unit) (4.8 km³) of oil per year, and the top oil consumers largely consist of developed nations. In fact, 24% of the oil consumed in 2004 went to the United States alone."International Energy Annual 2004". Energy Information Administration. 14 Jul. 2006. Found at http://www.eia.doe.gov/pub/international/iealf/tablee2.xls

History Natural history Ninety-five percent of oil and gas formations derive from the decayed plants and bacteria which sank to the bottom of seas, sheltered lakes and other moist areas. Over time the decayed residue was covered by layers of mud and silt, sinking further down into the Earth’s crust and preserved there between hot and pressured layers, gradually transforming into oil reservoirs.

Please see: http://www.eia.doe.gov/pub/oil_gas/petroleum/analysis_publications/oil_market_basics/full_contents.htm for more information.

Human history Historical references trace oil use in ancient Egypt, Mesopotamia, and Persia through various reports and sacred documents. Oil in general has been used since early human history to keep fires ablaze, and also for warfare. Its importance in the world economy evolved slowly. Wood and coal were used for heating and cooking, while whale oil was used for lighting. Whale oil however, burned to produce a black, smelly, thick residue known as tar or rock oil .

The petroleum industry was established in the 8th century, when the streets of Baghdad were paved with tar, derived from petroleum through destructive distillation. In the 9th century, oil fields were exploited in the area around modern Baku, Azerbaijan, to produce naphtha. These fields were described by al-Masudi in the 10th century, and by Marco Polo in the 13th century, who described the output of those oil wells as hundreds of shiploads.K. Ajram (1992). Miracle of Islamic Science, Appendix B. Knowledge House Publishers. ISBN 0911119434. Petroleum was Distillation by al-Razi in the 9th century, producing chemicals such as kerosene in the alembic, which he used to invent kerosene lamps for use in the oil lamp industry.Zayn Bilkadi (University of California, Berkeley), "The Oil Weapons", Saudi Aramco World, January-February 1995, p. 20-27.

The Industrial Revolution generated an increasing need for energy which was fuelled mainly by coal. However, it was discovered that kerosene could be extracted from crude oil and used as a light and heating fuel. Petroleum was in great demand and by the twentieth century had become the most valuable commodity traded on the world market.Halliday, Fred. The Middle East in International Relations: Power, Politics and Ideology. Cambridge University Pres: USA, 270

Infrastructure The petroleum industry can be divided into two broad groups: "upstream (oil industry)" producers (oil exploration, development and production of crude oil or natural gas) and "downstream (oil industry)" transporters (Tanker (ship), Pipeline transport), oil refinery, retailers, and consumers. Oil companies are generally categorized as "supermajors" (BP, Chevron Corporation, ExxonMobil, ConocoPhillips, Royal Dutch Shell and Total S.A.), "majors," and "independents" or "jobbers." Most upstream work in the oil field or on an oil well is contracted out to drilling contractors and oil field service companies.

Environmental effect and future shortages As petroleum is a non-renewable natural resource the industry is faced with an inevitable eventual depletion of the world's oil supply. The BP Statistical Review of World Energy 2001 predicted the reserve/production ratio for proven stores world wide. The study placed the prospective life span of reserves in the Middle East at 88 years, Latin America at 37 years and North America at only 16 years. Oil exploration alone will not prevent future shortages of the resource. Resource economists argue that oil prices will rise as demand increases relative to supply, and that this will spur further exploration and development. However, this process will not increase the amount of oil in the ground, but will rather temporarily prolong production as higher prices to make it economical to extract oil that was previously not economically recoverable. The Hubbert peak theory, also known as peak oil, is an influential theory concerning the long-term rate of conventional oil production and depletion. Oil is a Fossil fuel. Burnt fossil fuels release Carbon dioxide#Concentrations of CO2 in atmosphere (CO2) into the Earth's atmosphere and thus contribute to Global warming.

References

Robert Sobel The Money Manias: The Eras of Great Speculation in America, 1770-1970 (1973) reprinted (2000).
Daniel Yergin, The Prize: The Epic Quest for Oil, Money, and Power, (Simon and Schuster 1991; paperback, 1993), ISBN 0-671-79932-0.
Matthew R. Simmons, Twilight in the Desert The Coming Saudi Oil Shock and the World Economy, John Wiley & Sons, 2005, ISBN 0-471-73876-X.
Matthew Yeomans, Oil: Anatomy of an Industry (New Press, 2004), ISBN 1-56584-885-3.

External links

PetroStrategies Oil and Gas Learning Center
Layman's Guide to the Oil and Gas Industry
Total's Planete-Energies website
Energy Information Administration's Petroleum website