Definition: Oil Industry
Oil provides fuel that supplies two fifths of the world's energy needs - via power generation facilities. Oil is refined, processed into gas and petroleum products for use in power generation, manufacturing and travel. Oil is also refined into feed stocks that chemical and petroleum industries process further into modern day essential chemicals and industrial products.
Heavily compressed hydrocarbon residues - wood-based then coal, from millions of years ago and at depth beneath earth surface have broken down into a combination of thick "crude" oil and gas. An exploration industry, extraction (drilling) and processing present products available for industrial use to the world market.
With new oil fields sought by smaller exploration companies. The major companies; ExxonMobil, Chevron, Texaco, British Petroleum with Amoco and ARCO as BP, ConocoPhillips seek to coordinate extract, process and market petroleum and gas products into industry.
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Oil boom gives Dakota Outerwear a new outletMinot Daily NewsRoe said they started catering to the oil industry about six months ago, and a lot of people came in from the oil fields and talked to Dakota Outerwear about what they wanted in their clothing. He said major companies also came calling, wanting their ... |
05/21/2012 10:29 PM
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Are Tar Sands Pipelines Positive or Negative for Women?Huffington Post (blog)The commercial also ignores the harmful gender dynamics pervading all oil industry operations. Damaging gender effects are not just an issue in Saudi Arabia but in oil producing areas around the world, including Canada. Oil extraction and pipelines ...and more » |
05/21/2012 05:38 PM
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Oil prices slashed anewPhilippine StarUnder the Downstream Oil Industry Deregulation Act of 1998, oil firms can price their products based on market forces so as to encourage competition. The deregulation law prohibits the government from intervening or influencing the pricing schemes of ...and more » |
05/21/2012 04:57 PM
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