Oil Energy Facts

Facts on consumption:

U.S.A. consumes most of the oil produced. U.S.A. uses a maximum of 20 million barrels of oil per day.
Next comes European Union. European Union uses 13 million barrels of oil per day.
Saudi Arabia, Russia and the United States accounted for 34% of oil production in 2011. Saudi Arabia, Russia and Nigeria accounted for 36% of oil export in 2011. This shows the amount of oil consumption in U.S.A.

75% of world’s oil reserves are present in the Middle East countries.
Based on data from OPEC at the beginning of 2013 the highest proved oil reserves including non-conventional oil deposits are in Venezuela (20% of global reserves), Saudi Arabia (18%), Canada (13%), and Iran (9%).
With a capacity of 727-million-barrels, the U.S. Strategic Petroleum Reserve is the largest stockpile of government-owned emergency crude oil in the world.

Oil has been used for more than 5000-6000 years.
Oil was formed 300 million years ago.
Oil was first exploited in Roman province of Dacia, where it was called “picula”.
First known oil well was drilled in China in 347 A.D.

Petrol has nicknames like “Texas tea” and “black gold”.
It is called black gold because the crude oil when extracted from the earth, is black in color and its economical factor gives it that name.
It is called Texas tea because Texas has the largest reserve in U.S.A. Texas is responsible for 1/5th of the oil that U.S.A. produces.

Oil together with coal and natural gas supply about 88% of world’s energy needs.
90% of vehicles are running on petrol.

More than 100 countries produce petroleum. Most of those countries produce both oil and natural gas; a few produce only natural gas.
Distillation is the process by which many by-products of crude oil are created. Various by-products are petrol, diesel, kerosene, natural gas, oil for lubrication.
Oil is not only used for production of these by-products but it is also helps in producing various items like clothes, plastic, chemicals etc.

Crude oil is a thick dark brown or greenish liquid.
Petroleum is actually measured in barrels. A barrel contains 158.9873 liters.
Petroleum holds for about 40% of primary energy we are using today.
45% of crude oil contains only gasoline.
Petroleum is Latin for “rock oil” because the oil is obtained from beneath the rocks.
The technology of finding oil has even incorporated 3D visualization tools from Microsoft’s Xbox game console! The system will help geoscientists examine and interact with 3D models of the Earth.
Shallow offshore wells or deep onshore wells can cost more than $15 million each to drill!

More information coming soon on Oil Energy Facts