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15 FACTS ON

...

CRUDE OIL

March

2017

HYDROCARBON

ENGINEERING

156

Approximately

50%

of all the oil consumed

in the

US

is for the

TRANSPORTATION

INDUSTRY

CRUDE OIL

RANGES IN CONSISTENCY

from water to a nearly solid state

China is the

second-largest

crude oil importer

IN THE WORLD

US crude oil production

averaged an

estimated

8.9 MILLION BPD

in 2016

Oil has been used

by people for over

5000 years.

It was once used as a

medicine for treating

ailments such as

gout

and

frostbite

Crude oil

is a mix

of

hydrocarbons

with some

oxygen,

nitrogen,

and

sulfur impurities

The

US

is

the world’s

BIGGEST

CONSUMER

of oil

The

largest

oilfield in the

US is

EAGLEVILLE

(Texas),

followed by

Spraberry

(Texas)

and

Prudhoe Bay

(Alaska)

Due to its high

value,

oil is

also known as

‘Texas Tea’

or

‘Black Gold’

One barrel of oil

(42 US gal.)

can

provide about

6 MILLION BTU

Saudi Arabia’s

Ghawar

oilfield

is the

world’s

largest,

containing

approximately

70

85 billion bbls

The EIA forecasts Brent

crude oil prices

to

average

US$55/bbl in 2017

and

US$57/bbl in 2018

THE MIDDLE EAST

alone has about

63%

of known

CRUDE OIL

RESERVES

In 1855,

Benjamin Stillman

found that by

distilling crude oil

it could be used

for

KEROSENE

in cooking

and for lamps

The

Safaniya

field

(Saudi Arabia) is

the

world’s largest

offshore oilfield,

containing more than

50 BILLION BBLS