5 things to do in Meghalaya - the abode of clouds


Kuwait is a small country with one of the world's largest proven oil reserves and one of the richest countries. The key role of the oil sector determines the dependence of the country's economy on the global situation in the hydrocarbon market
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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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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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In 2023, global oil demand is expected to grow by 1.9 million barrels per day to a record 101.7 million barrels per day. Almost half of the increase will come from China, which is lifting restrictions in connection with Covid-2019.
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Petroleum, also known as crude oil, is a naturally occurring, yellowish-black liquid found in geological formations beneath the Earth's surface. It is a complex mixture of hydrocarbons of various molecular weights and other organic compounds. The exploration, extraction, refining, and use of petroleum are central to the modern global economy and have numerous applications.

How Petroleum is Formed and Extracted:

Formation: Petroleum is formed from the remains of ancient marine organisms such as zooplankton and algae. Over millions of years, these remains are buried under sediment and subjected to heat and pressure, transforming them into crude oil.
Extraction: Petroleum is extracted through drilling wells into the earth where oil reservoirs are found. This process can take place on land (onshore) or in the ocean (offshore).

Refining Process:

Once extracted, crude oil is transported to refineries where it is processed and separated into various components through processes like distillation. These components include:

Gasoline: Used as a fuel in internal combustion engines, primarily in vehicles.
Diesel: Also used as a fuel in vehicles, especially in larger vehicles and heavy machinery.
Kerosene: Used as a fuel in jet engines and in some types of heating applications.
Lubricants: Such as motor oil, which reduce friction in engines and machinery.
Asphalt: Used in road construction for paving.
Petrochemicals: Used as a raw material in the production of chemicals, plastics, synthetic rubber, and other materials.

Uses of Petroleum:

Transportation: The primary use of petroleum is as a fuel for cars, motorcycles, trucks, airplanes, ships, and trains.
Industrial Fuel: Petroleum is used in various industries as a fuel for heating, powering machinery, and generating electricity.
Manufacturing of Chemicals and Plastics: Many everyday items, from plastic bottles to pharmaceuticals, are derived from petrochemicals.
Heating and Electricity: Petroleum, in the form of heating oil, is used in many areas for heating homes and buildings. It's also a source for electricity generation, though to a lesser extent than coal and natural gas.
Lubricants: Petroleum is the base for many lubricants that keep engines and machinery operating smoothly.

Environmental and Safety Considerations:

Environmental Impact: The extraction, refining, and burning of petroleum have significant environmental impacts, including air and water pollution and greenhouse gas emissions contributing to climate change.
Sustainability Concerns: Petroleum is a non-renewable resource, prompting concerns about its long-term availability and the need for alternative energy sources.
Oil Spills: Accidental spills during extraction or transportation of crude oil can cause severe environmental damage.
Safety in Handling and Use: Petroleum products are highly flammable and must be handled and stored carefully to prevent accidents and fires.

In conclusion, petroleum is a crucial global resource with a wide array of applications, particularly as a fuel and as a raw material for various products. However, its environmental impact and finite nature drive ongoing research into sustainable and cleaner energy alternatives.