The oil industry is a very large network of inter-related businesses that are reliant on oil and oil-based products. Oil is a liquid mineral extracted from the ground. When processed, oil yields many different products encompassing domestic, medical and mechanical necessities. The main characteristic of oil is its being hydrophobic and lipophilic – the former meaning[...]

Crude oil refers to oil when it is in its most unadulterated form, meaning the state of oil when it is just freshly extracted from the ground through a process called oil drilling, accomplished through the use of oil rigs or oil platforms. Crude oil is also known a[...]

Want to be abreast in the crude oil price movement? Follow the tips below and be assured that you won’t be out of the loop.

Read the newspapers – Crude oil prices are one of the most important topics that major newspapers cover [...]

Oil drilling is the process used to describe the manner by which oil is extracted from the ground. This process requires preparation and use of many logistical aspects – manpower, mechanical equipment, scientific studies and a safe and secure drilling plan and [...]

Oil is a very important and very useful substance today. Sadly, it is also one of the main causes of pollution in the different bodies of water around the world, especially in seas and oceans where tankers and oil powered sea vessels move about. Modern society reco[...]

When oil is harvested, it is considered in its crude form, thus the term “crude oil.” To make it useful and less dangerous, crude oil needs to undergo a refining process that happens inside an oil refinery. An oil refinery is a plant composed of mechani[...]

An oil rig is the structure that is placed above a target oil drilling site. Oil rigs are also known as oil platforms. Oil rigs found inland are accessible via land transportation, while oil rigs located in seas and oceans can be reached by using sea vessels. Most [...]

Most people think that oil is mined only from hard rock foundations. What some people may not know is that oil deposits can also be found in sand. This is called by many names – tar sands, bituminous sands and, more commonly, oil sands.

Oil is extract[...]

An oil spill refers to the accidental pouring and spreading of oil in a specific area, usually in bodies of water like seas, oceans, rivers and lakes. An oil spill happens when an oil storage container is punctured or when an unsecured oil storage container empties[...]

Synthetic oil is the term used to refer to oil after the once-crude oil is synthesized using other chemicals to produce oil with altered properties. This is done basically to create a substitute for petroleum – especially when the petroleum supply is lacking,[...]