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Waste oil is oil containing not only breakdown products but also impurities from use. Some examples of waste oil are used oils such as hydraulic oil, transmission oil, brake fluids, motor oil, crankcase oil, gear box oil and synthetic oil. [53] Many of the same problems associated with natural petroleum exist with waste oil.
World oil reserves as of 2013. The petroleum industry, also known as the oil industry, includes the global processes of exploration, extraction, refining, transportation (often by oil tankers and pipelines), and marketing of petroleum products. The largest volume products of the industry are fuel oil and gasoline (petrol).
The term petroleum refers both to naturally occurring unprocessed crude oil, as well as to petroleum products that consist of refined crude oil. Conventional reserves of petroleum are primarily recovered by drilling , which is done after a study of the relevant structural geology , analysis of the sedimentary basin , and characterization of the ...
Approximately 72% of world oil production came from the top ten countries, and an overlapping 35% came from the twelve OPEC members. Members of OPEC+ , which includes OPEC members produce about 60% of the world's petroleum. supply and demand In addition to being top 5 in oil production, the United States and Russia are also top 5 in oil exports ...
The countries were therefore not able to mine or market their petroleum. [4] Major oil companies had the technology and expertise and they negotiated concession agreements with the developing countries; the companies were given exclusive rights to explore and develop the production of oil within the country in exchange for making risky ...
Tight oil formations include the Bakken Shale, the Niobrara Formation, Barnett Shale, and the Eagle Ford Shale in the United States, R'Mah Formation in Syria, Sargelu Formation in the northern Persian Gulf region, Athel Formation in Oman, Bazhenov Formation and Achimov Formation of West Siberia in Russia, Arckaringa Basin in Australia, Chicontepec Formation in Mexico, [1] and the Vaca Muerta ...
Conventional crude oil is normally extracted from the ground by drilling oil wells into a petroleum reservoir, allowing oil to flow into them under natural reservoir pressures, although artificial lift and techniques such as horizontal drilling, water flooding and gas injection are often required to maintain production.
Some proponents of US energy independence promote wider use of alternatives such as ethanol fuel, methanol, biodiesel, plug-in hybrids and other alternative propulsion.A 2013 report published by the Fuel Freedom Foundation said that without a shift to domestic feedstocks for fuel, such as natural gas and biomass, the US would not be able to achieve energy independence. [18]