ABOUT CRUDE OIL

WHAT IS CRUDE OIL

Crude oil is a naturally occurring, unrefined petroleum product composed of hydrocarbon deposits and other organic materials. A type of fossil fuel, crude oil can be refined to produce usable products such as gasoline, diesel and various forms of petrochemicals. It is a nonrenewable resource, which means that it can't be replaced naturally Crude oil is typically obtained through drilling, where it is usually found alongside other resources, such as natural gas (which is lighter, and therefore sits above the crude oil) and saline water (which is denser, and sinks below). It is then refined and processed into a variety of forms, such as gasoline, kerosene and asphalt, and sold to consumers. Although it is often called "black gold," crude oil has ranging viscosity and can vary in color from black and yellow depending on its hydrocarbon composition. Distillation, the process by which oil is heated and separated in different components, is the the first stage in refining.

WHAT ARE THE DIFFERENT TYPES OF CRUDE OIL

-West Texas Intermediate (WTI)

This type of oil contains low amounts of sulfur and density. Its sulfur content is only 0.24% and its gravity is 39.6 degrees. The West Texas Intermediate is considered to be both sweet and light crude oil. The refining of this oil is usually done in Gulf regions as well as the United States because it is conveniently situated to oil reserves.

-Brent Blend

The term Brent Blend is obtained from the geographical location where this type of oil is extracted from. Brent Blend is termed as sweet oil having 0.37% sulfur and 38.06 degrees in gravity. Brent Blend oil is typically used for making petroleum and gasoline for vehicles.

-Dubai/Gulf Crude

As the name puts it, the Dubai Crude oil comes from Dubai – a massive oil producing country in the world. The Dubai crude has a light density, having 31 degrees gravity and a sulfur content of only 2%.

-Russian Export Blend (REBCO)

This type of oil has been the standard for Russian crude oil. This is also a perfect example of sour oil because of its high amount of sulfur. Russian expert blend oil is heavily exported to Italy and Netherlands.

-Bonny Light Crude Oil (BLCO)

Bonny Light oil is a high grade of Nigerian crude oil with high API gravity (low specific gravity), produced in the Niger Delta basin and named after the prolific region around the city of Bonny

 SOME INTERESTING FACTS ABOUT CRUDE OIL

-Oil is measured in barrels, which is equal to 42 US gallons or 159 liters.

-The US has the 10th largest oil reserve in the world, Venezuela has the largest, with 298.35 billion barrels compared to the US’ 33 billion barrels.

-The US consumes more oil than any other country [ 1.85 billion barrels per day].

-Gasoline makes up 45% of crude oil.

-Petrochemicals (found in oil) helped produce the electronic device you are reading on right now.

-Oil is used to create medicine, paints, recreational sports items, and cosmetics.

-Oil is also referred to as “Texas Tea” and “Black Gold.”

-The process of oil drilling begins with a drill cutting through the earth, allowing air to be pumped downwards, and once the oil is hit, it rushes to the surface and can shoot dozens of meters out of the ground.

-Oil and gas have played an important role throughout world history. Ancient cultures used crude oil as a substance for binding materials and as a sealant for waterproofing various surfaces.