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Fossil fuel

Gas extraction from underground storage facilities (UGS) in Europe has reached a maximum since February 2021 and exceeds 900 million cubic meters per day against the background of significant fall in temperature. The total reserves in the EU UGS dropped below 83%
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The oil market began 2024 as a whole without much change - with prices at about $ 80 per barrel of Brent
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In 2023, Asian nations, predominantly China, emerged as the primary importers of Russian oil, marking a significant shift in Russia's oil export strategy
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Kazakh oil and gas company Kazmunaigas (KMG), Chinese Sinopec and Hungarian MOL have put into commercial operation the large Rozhkovskoye gas condensate field in the West Kazakhstan region
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The coal mining industry is still considered a promising industry at the global level, and coal itself is the most affordable fuel. And this is despite the process of transition of many developed countries to green energy
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Gas withdrawal from European underground storage facilities (UGSF) in November 2023 turned out to be 25% higher than last year
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The development of a "green" economy, a reduction in the consumption of petroleum products causes the active development of hydrogen energy throughout the world.
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Gas consumption by the European Union (EU) countries in October 2023 increased by 5.1% year-on-year, to 23.6 billion cubic meters amid a revival in the industrial sector and electricity production.
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The West Siberian Scientific and Educational Center in Russia has patented a method for swiftly transforming natural gas into solid granules using biodegradable catalysts. This innovation enables the transportation of gas from fields without the need for pipelines or liquefaction.
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The World Bank (WB) believes that further escalation of the conflict in the Middle East could threaten to increase oil prices by 75% — up to $ 157 dollars per barrel. Such an assessment is given in the October report of the World Bank "Prospects for commodity markets".
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Fossil fuels are natural sources of energy formed from the remains of living organisms that died millions of years ago. These remains, primarily plants and microorganisms, were buried under layers of sediment and subjected to intense heat and pressure over geological time scales, transforming them into the fuels we use today. The main types of fossil fuels are coal, oil, and natural gas. They are considered non-renewable resources because they take millions of years to form and reserves are being depleted much faster than new ones are being made.

Types of Fossil Fuels:

Coal: Formed from the remains of ancient vegetation like ferns, trees, and mosses. Coal is primarily carbon and is found in various grades, from lignite (the least carbon-dense and least energy-rich) to anthracite (the most carbon-dense and energy-rich).
Oil (Petroleum): Originates from the remains of tiny plants and animals (plankton) that died in ancient seas and were buried under layers of mud. Heat and pressure turned these remains into crude oil, which can be refined into various products like gasoline, diesel, and kerosene.
Natural Gas: Mostly consists of methane and is often found in association with oil. It is formed under similar conditions as oil, but at higher temperatures, and is often trapped in porous rock formations deep underground.

Extraction and Use:

Fossil fuels are extracted through mining (for coal) and drilling (for oil and natural gas).
They are transported to power plants, refineries, and other facilities where they are processed and used to produce electricity, heat, and transportation fuels, among other uses.


High Energy Content: Fossil fuels contain a high amount of energy per unit weight.
Infrastructure and Technology: Current infrastructure and technology are well-developed for extracting, transporting, and using fossil fuels.
Economic Driver: The fossil fuel industry is a significant contributor to global economies and job markets.

Disadvantages and Environmental Impact:

Air Pollution: Burning fossil fuels produces pollutants like sulfur dioxide, nitrogen oxides, and particulate matter.
Greenhouse Gas Emissions: The combustion of fossil fuels is a major source of carbon dioxide, a greenhouse gas contributing to global warming and climate change.
Resource Depletion: Fossil fuels are finite resources, and their continued extraction becomes more challenging and environmentally damaging.
Ecological Damage: Extraction processes like mining and drilling can have significant ecological and environmental impacts, including habitat destruction and oil spills.

Future and Alternatives:

There is a growing shift towards renewable energy sources like wind, solar, and hydroelectric power as alternatives to fossil fuels.
The development of more efficient and cleaner technologies, such as carbon capture and storage (CCS), aims to reduce the environmental impact of fossil fuel usage.

The transition to a more sustainable energy system is a key focus of international climate policies and agreements.

In summary, while fossil fuels have been the backbone of industrial development and modern civilization, their environmental and health impacts, alongside the fact that they are a finite resource, are driving a global effort towards cleaner, renewable sources of energy.