Humans have been using unrefined oil for more than 5,000 years. However, once we discovered kerosene could be extracted from it and used as lighting and heating fuel, we really never looked back.By the early 20th century, petroleum had become the world’s most valuable trade commodity.Given the sheer massiveness of the industry, the American Petroleum Institute has divided it into five sectors. The main two are upstream, which encompasses exploration and production of crude oil, and downstream, which includes oil tankers, refineries, retailers and consumers. The remaining three are marine, pipeline transport, and service and supply.That said, here are 10
10 Things You Should Know About the Oil Industry
The oil industry is BIG. Like, B-I-G, big. We've compiled a few facts about the industry to illustrate that fact. See if anything here surprises you.
Sep 03, 2014
| by Brian Erikkson |
