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Encyclopedia > Oil industry

The Oil industry brings to market what is currently considered the lifeblood of nearly all other industry, if not industrialized civilization itself. Oil accounts for 40 % of the United States' energy supply and a comparable percentage of the world’s energy supply. The US currently consumes 7.5 billion barrels (1.2 km³) of oil per year, while the world consumes 30 billion barrels (4.8 km³) per year. The U.S., and most of the world, are net importers of the resource. The Pyramid of the Moon in Teotihuacan, Mexico. ... See Barrel for other uses. ...


Infrastructure

The Industry can be divided into two broad themes: Upstream producers and Downstream transporters (tanker, Pipeline transport), refiners, retailers, and consumers. A tanker is usually a vehicle carrying large amounts of liquid fuel. ... An elevated section of the Alaska Pipeline Pipeline transport is a transportation of goods through a tube. ... View of the Shell/Valero Martinez oil refinery An oil refinery is an industrial process plant where crude oil is processed and refined into useful petroleum products. ...


Oil companies are generally categorized as "majors and "independents". Wikipedia does not yet have an article with this exact name. ...


Most work in the oil field or on an oil well (upstream) is contracted out to drilling contractors and oil field service companies and the service personnel work under the watchful gaze of the client oil company, which may be a "major" or an "independent". Drilling rig in a small oil field Near Sarnia, Ontario, 2001 An oil field is an area with an abundance of oil wells extracting petroleum (oil) from below ground. ... An oil well is a laymans term for any perforation through the Earths surface designed to find and release both petroleum oil and gas hydrocarbons. ...


Impact

Petroleum is one of the non renewable natural resources and the industry is faced with the spectre of the possible eventual future depletion and exhaustion of the worlds oil supply. It is widely believed that oil exploration alone will not stave off future shortages of the resource if global future energy development fails to take this into account. The Hubbert peak theory, also known as peak oil, is an influential theory concerning the long-term rate of conventional oil production and depletion. Nodding donkey pumping an oil well near Sarnia, Ontario, 2001 Petroleum (from Latin petra – rock and oleum – oil), crude oil, sometimes colloquially called black gold, is a thick, dark brown or greenish flammable liquid, which exists in the upper strata of some areas of the Earths crust. ... Oil Exploration is the search by petroleum geologists for hydrocarbon deposits beneath the Earths surface. ... Energy development is the ongoing effort to provide abundant and accessible energy, through knowledge, skills and constructions. ... The Hubbert peak theory, also known as peak oil, is an influential theory concerning the long-term rate of conventional oil and other fossil fuels production and depletion. ...


See Also


  Results from FactBites:
 
Oil Industry Statistics, Statistics on Oil Industry (237 words)
Oil Industry Statistics : The oil sector is considered to be one of the important areas of concern for the world economy.
From estimation it is found that to meet the projected increase in world oil demand the total petroleum supply in 2030 is required to reach 118 million barrels per day from 80 million barrels per day as of the year 2003.
The world oil consumption has increased by 1.2 million barrels per day in the year 2005, even after the increase of 2.6 million barrels per day as in the year 2004.
  More results at FactBites »

 
 

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