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What is meant by petroleum glut?

Petroleum glut means the production of petroleum is greater than the demand. When petroleum price drops due to over-production, the market cites it as an oil glut. Ref: http://en.wikipedia.org/wiki/1980s_oil_glut


What is peek oil?

Peak oil is the point in time when the maximum rate of global petroleum extraction is reached, after which the rate of production enters terminal decline.


What is petroleum used for in manufacturing?

Petroleum is a crucial raw material in manufacturing, primarily used to produce fuels, lubricants, and various petrochemicals. These petrochemicals serve as building blocks for a wide range of products, including plastics, synthetic fibers, and rubber. Additionally, petroleum-derived substances are used in the production of solvents, adhesives, and coatings, making it an essential component across multiple industries. Overall, petroleum's versatility underpins the manufacturing of many everyday items.


What is salt used for in the petroleum industry?

In the petroleum industry, salt is primarily used in drilling fluids to help control wellbore pressure and stabilize the formation. It also plays a role in the extraction process by enhancing the solubility of certain minerals and facilitating the separation of oil from water. Additionally, salt is utilized in the production of brine, which can be used for enhanced oil recovery techniques. Overall, salt is essential for optimizing drilling operations and improving hydrocarbon recovery efficiency.


What is an England petroleum company?

BP - British Petroleum

Related Questions

What causes water to get a petroleum taste and smell?

Water can get a petroleum taste and smell if there is a contamination of petroleum or its byproducts in the water source. This can occur due to oil spills, leaks from underground tanks, or industrial activities. The petroleum compounds can dissolve into the water, giving it a distinct taste and smell.


Discuss in detail the effect of petroleum on the quality of production supplied in market for the last two years use data from economic survey of Pakistan and other related reports?

Discuss in detail the effect of petroleum on the quality of production supplied in market for the last two years use data from economic survey of Pakistan and other related reports


What has the author Norman J Hyne written?

Norman J. Hyne has written: 'Geology for petroleum exploration, drilling, and production' -- subject(s): Petroleum, Prospecting, Petroleum engineering, Geology 'Dictionary of petroleum exploration, drilling & production' -- subject(s): Dictionaries, Petroleum, Petroleum engineering 'Nontechnical guide to petroleum geology, exploration, drilling, and production' -- subject(s): Prospecting, Petroleum, Petroleum engineering, Geology


Where does Saudi Arabia import petroleum to?

To minimize cost of petroleum production


From Petroleum Reservoir and Production Engineering and Petroleum refinery Engineering which one have a better career scope?

Petroleum Reservoir


What is meant by petroleum glut?

Petroleum glut means the production of petroleum is greater than the demand. When petroleum price drops due to over-production, the market cites it as an oil glut. Ref: http://en.wikipedia.org/wiki/1980s_oil_glut


What effect will petroleum have on the Earth?

Hamburger


Which country is the largest producer of petroleum in south-east Asia?

Saudi Arabia is Asia's leader in petroleum production and petroleum reserves


What effect did the petroleum jelly have on transpiration.?

Petroleum jelly reduced transpiration by creating a barrier on the surface of the leaf, preventing water loss through stomata. This can lead to decreased water uptake by the plant and potentially affect its overall growth and health.


Why would less manufacturing of plastic save petroleum?

Less manufacturing of plastic would save petroleum because the production of plastic relies on petroleum-based chemicals as raw materials. By reducing plastic production, less petroleum would be needed to extract and produce these chemicals, leading to a conservation of petroleum resources.


What country is a leader production of petroleum?

Many countries produce petroleum, but Saudi Arabia produces the most.


What are the primary markets for chemical products?

The primary markets for chemical products are paper, housing, automobiles, water treatment, fertilizer, petroleum refining, steel production, manufacturing, and soap and detergent production.