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Oil and Gas Outlines

In: Business and Management

Submitted By awinsett
Words 6775
Pages 28
Petroleum refers to the hydrocarbon compounds of crude oil and natural gas that are found in the underground rock formations
Reservoirs are generally thousands of feet below the surface and are made up of the remains of small marine plants and animals that lived millions of years ago. Petroleum may also seep to the earth’s surface along fault lines and cracks
Petroleum refers to both crude oil and natural gas

Modern uses of petroleum and its byproducts include:
Transportation fuels (gasoline, diesel, jet fuel, and compresses natural gas)
Heating Fuels (Propane, heating oil and natural gas)
Electric Generation fuels such as natural gas and fuel oil
Manufactured products such as plastics and building materials.

Crude oil refers to unrefined hydrocarbon mixtures produced from underground reservoirs that are liquid at atmospheric pressure and temperature
Classified as either light or heavy depending on the density of the mixture
Density is measured in API gravity
Heavy crude oil has more of the longer, larger hydrocarbon molecules (greater density)
Difficult to produce and transport to market; more expensive to process; weighs more but sells for less
Natural Gas refers to hydrocarbon mixtures that are NOT liquid but gaseous at normal atmospheric pressure and temperature. Natural Gas is largely methane, which is a clear, odorless gas. It has the smallest natural hydrocarbon molecule (CH4). Natural Gas mare also contain some of the larger hydrocarbon molecules commonly found in nature:
Ethane (C2H6)
Butane (C4H10)
Propane (C3H8)
Natural Gasolines ( C5H12 to C10H22)
Ethane, Propane, Butane and natural gasolines are collectively called Natural Gas Liquids (NGL) and a re a valuable feedstock for the petrochemical industry. When removed from the natural gas mixture, these larger, heavier molecules become liquid under various combinations of increased...

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