Any combustible substance that generates heat, power and energy when ignited can be classified as a fuel. Coal, wood, petrol and diesel are good examples of commonly used fuels.
Heavy commercial fuels obtained from crude oil are called fuel oil. Some facts about fuel oil are:
Fuel can be classified into the following categories:
Simply put, peak oil is a term that reminds us that our world oil reserves are nonrenewable. Doomsday proponents have long been warning us that we’ve reached peak oil and we will wake up one day and find that there is no more oil left in the world. How far is this day and how will it affect us? Are we doing anything to delay it?
As per reports of Iran oil and gas industry, China National Petroleum Corporation, which is a major oil and gas company in China, has inked a deal for developing an Iranian oil field at north Azadegan.
As per predictions of Bank Melli Iran, oil and gas industry of Iran would amount to 15.44 percent of demand for oil in middle east by 2013. This forecast also says that by that time oil and gas industry in Iran would be able to provide 15.17 percent of oil supply coming from middle east region.
Oil drilling is a complex procedure of drilling and pumping out oil from reservoirs using drilling rigs. Oil drilling rigs are instruments that create underground hole/shafts. They are used to:
Oil drilling can be:
As per latest reports from Australia oil and gas industry, Santos, which is third biggest producer of oil and gas products in that country, has announced a drop of 8 percent in its year on year production for 2008. Santos assumes that in 2009 its production level would remain same.
Arrow Energy is a major name of oil and gas industry in Australia. It specializes in coal bed methane. It announced on 20th January 2009 that it has sold a stake of 10 percent in Arrow International, which is its overseas unit, to Royal Dutch Shell.
In a new development in Libya oil and gas industry, Verenex Energy, a Canadian company and Woodside Petroleum, an Australian oil company, have made hydrocarbon discoveries in Ghadames Basin in Libya. These discoveries were made in January 2009.
National Oil Corporation of oil and gas industry of Libya have found out oil and gas resources at D1-NC7A wildcat well in Ghadames Basin. This discovery has been made in conjunction with Arabian Gulf Oil Company in December 2008.
