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Petroleum (Latin Petroleum derived from Greek πετρα - rock + ολιον - oil) or crude oil is a naturally occurring liquid found in formations in the Earth consisting of a complex mixture of hydrocarbons (mostly alkanes) of various lengths.
The approximate length range is C5H12 to C18H38. Any shorter hydrocarbons are considered natural gas or natural gas liquids, while longer hydrocarbon chains are more solid, and the longest chains are coal. In its naturally occurring form, it may contain other nonmetallic elements such as sulfur, oxygen, and nitrogen.
It is usually black or dark brown (although it may be yellowish or even greenish) but varies greatly in appearance, depending on its composition. Crude oil may also be found in semi-solid form mixed with sand, as in the Athabasca oil sands in Canada, where it may be referred to as crude bitumen.
Petroleum is used mostly, by volume, for producing fuel oil and gasoline (petrol), both important "primary energy" sources.84% (37 of 42 gallons in a typical barrel) of the hydrocarbons present in petroleum is converted into energy-rich fuels (petroleum-based fuels), including gasoline, diesel, jet, heating, and other fuel oils, and liquefied petroleum gas.
Due to its high energy density, easy transportability and relative abundance, it has become the world's most important source of energy since the mid-1950s. Petroleum is also the raw material for many chemical products, including solvents, fertilizers, pesticides, and plastics; the 16% not used for energy production is converted into these other materials.
Petroleum is found in porous rock formations in the upper strata of some areas of the Earth's crust. Known reserves of petroleum are typically estimated at around 1.2 trillion barrels with at least one estimate as high as 3.74 trillion barrels.Consumption is currently around 84 million barrels per day, or 4.9 trillion liters per year. Because of reservoir engineering difficulties, recoverable oil reserves are significantly less than total oil-in-place.
At current consumption levels, current known reserves would be gone in about 32 years, around 2039. However, this ignores any new discoveries, changes in demand, better technology, population growth, industrialization of third world countries, and other factors. |
