The Oil In The World

Oil is a heterogeneous mixture of organic compounds, mainly water-insoluble hydrocarbons. It is also known as crude or simply crude oil. It is of fossil origin, fruit of the transformation of organic matter from zooplankton and algae, deposited in large quantities in funds seas anoxic or lacustrine zones of the geological past, were subsequently buried under heavy layers of sediments. It is a non-renewable natural resource and is also currently the main source of energy in developed countries. Liquid petroleum can occur associated with layers of natural gas in deposits that have been buried for millions of years, covered by the upper layers of the Earth’s crust. OPEC is composed of five founding countries (Saudi Arabia, Iraq, Iran, Kuwait and Venezuela). Headquartered in Vienna, later the Organization was expanded with seven members more: Algeria, Angola, Ecuador, Nigeria, United Arab Emirates, Libya, Qatar.

Oil natural is not used as it is extracted from nature, but it separates into more simple mixtures of hydrocarbons that have specific uses, this process is known as fractional distillation. Boiling natural oil (about 400 degrees Celsius) is introduced to the lower part of the Tower, all substances that evaporate at that temperature passed as steams to the slightly cooler upper Chamber and therein are condensed the heavier fractions which correspond to lubricating oils. In this process the fractions are obtained: Gases: methane, ethane and liquefied gases (propane and butane) oil, naphtha, ligroina or ether oil, gasoline, kerosene, diesel oil (light and heavy), fuel oils, lubricating oils, asphalt, tar, etc. Petrochemical industry made from petroleum various products derived, in addition to fuel, such as plastics, derived from ethylene, pesticides, herbicides, fertilizers or synthetic fibers. The most traded petroleum in the stock of London and New York are: this crude oil Brent Blend, consisting of fifteen fields of extraction from crude in the Brent and Ninian fields in the North Sea, systems is stored and loaded at the terminal in the Shetland Islands. The production of crude oil from Europe, Africa and Middle East follows the trend marked by this crude prices. The petroleum West Texas Intermediate (WTI) for American crude.

The values London and New York, provides the global forum for all those who wish to manage the risk of future movements in the oil price. Negotiating in barrels, which meets rigorous quality standards, it is deposited in warehouses approved worldwide so that the material can change hands but in reality most of the contracts are carried out without that to happen. The published prices the the stock exchange in London and New York are regarded as a true representation of supply and demand by the commercial and industrial sector around the world.