An Insight into Oil and Gas: Understanding the Dynamics of Demand and Supply
Added on 2020-01-06
7 Pages2094 Words176 Views
ChemistryEnvironmental Science
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Understanding Oil and Gas
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1CONCLUSION................................................................................................................................4REFERENCES................................................................................................................................5
INTRODUCTIONIn all day to day activities, gas and oil are very important. Oil sector includes differenttypes of processes of refining, exploration, transporting and extraction. Largest volume ofproducts include petrol and fuel oil. It requires a long process to convert these products tofinished goods (Arezki, van der Ploeg and Venables, 2014). Oil and gas are hydrocarbons whichare the organic compound that consists of hydrogen and carbon. Natural gas contains methaneand it also includes small amount of hydrocarbons like propane. Natural gas can be stated as thecleanest form of fossil fuel. Both oil and gas were formed millions of years ago through decayedanimals and plants. This report covers the route of petrol and shale fume through oil and gasindustry. There will be a discussion on the impact of International Oil Companies (IOCs),National Oil Companies (NOCs) and Government agencies on this sector. Lastly, factors whichaffect the demand and supply of these products will be discussed. Route of petrol and shale gas through oil and gas industry Formation of petrol is through various hydrocarbons that are combined together likesulphur under heat and pressure. Most of the scientists believe that petrol is formed throughremains of plants and animals over millions of years ago (Woollam, Durnie and Gough, 2013).When plants and animals die and lie on sea bed, they get decomposed with silt and sand. In thisprocess, certain chemical like oxygen, nitrogen and phosphorus is cleaned up by decompositionprocess done by bacteria. Then left is hydrogen and carbon. Further, at the bottom of ocean, thereis sufficient oxygen and it enables the corps to get decompose entirely. Rest remaining is rawmaterial to form petroleum. Later, it slowly gets covered with multiple layers of mud, sand andsalt. This process takes about millions of years. Natural heat and pressure under ocean lead toform petroleum. After that, companies make use of this raw material with the help of drillingtechnology so that they will be able to extract petrol for different purposes (Berk and Rauch,2016). There are different layers which are gathered through petrol and all are used by theorganization to make use of it. In this context, through pressure and heat, organic componentslike human and other organics such as lipids, carbohydrates, acids and proteins are gained whichare known as geopolymers. Further, different types of processes are used to convert solidhydrocarbon into liquid form. One of the most common methods use for the same is high degreeof heat. In chemistry, there is a general rule which states that more the molecule will be, it wouldbecome easy to convert the solid hydrocarbon into liquid form or vice versa. The material for1
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