Everything Everywhere Daily Everything You Need to Know About Petroleum (Encore)
Jan 8, 2024
Exploring the ancient use and composition of petroleum, the history of the petroleum industry, the process of locating and extracting crude oil, and the global significance of petroleum products.
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Ancient Origins of Petroleum
- Petroleum, or crude oil, is a natural liquid from the earth used for thousands of years in various cultures.
- Its discovery and early uses date back to ancient times, including lighting lamps and construction.
Petroleum Composition and Classification
- Petroleum is a complex mixture of hydrocarbons and varies by location and composition.
- It's categorized mainly by sulfur content and density, influencing its classification as sweet, sour, light, or heavy.
Global Crude Oil Grades and Trade
- Different crude oils are grouped by geography and quality, like West Texas Intermediate or Brent Blend.
- While prices vary slightly by grade, crude oil is bought globally by the barrel, standardizing trade.