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Petroleum [a] is a naturally occurring yellowish-black liquid mixture. It consists mainly of hydrocarbons, [1] and is found in geological formations. The term petroleum refers both to naturally occurring unprocessed crude oil, as well as to petroleum products that consist of refined crude oil.
Cuba produces around 80,000 barrels per day (13,000 m 3 /d) of heavy crude oil. Various companies have explored for oil in Cuba over the last 15 years with the only new discoveries along the northwest heavy oil belt, an 80-mile (128 km) stretch of coast in La Habana and Matanzas provinces.
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The three most quoted oil products are North America's West Texas Intermediate crude (WTI), North Sea Brent Crude, and the UAE Dubai Crude, and their pricing is used as a barometer for the entire petroleum industry, although, in total, there are 46 key oil exporting countries. Brent Crude is typically priced at about $2 over the WTI Spot price ...
The National Administration of Fuels, Alcohols and Portland (ANCAP) was created by Law No. 8,764, on 15 October 1931 during the administration of Gabriel Terra. [6] With its creation, the state monopoly on the import and refining of crude oil was established, as well as on the import and manufacture of alcohol and distilled alcoholic beverages. [7]
Petroleum refinery in Anacortes, Washington, United States. Petroleum refining processes are the chemical engineering processes and other facilities used in petroleum refineries (also referred to as oil refineries) to transform crude oil into useful products such as liquefied petroleum gas (LPG), gasoline or petrol, kerosene, jet fuel, diesel oil and fuel oils.
Crude can refer to: Crude oil or simply crude, the unprocessed form of petroleum; Crude, an Australian documentary about the geology and economics of crude oil; Crude, an American documentary about oil companies and lawsuits in Ecuador; Crude, by Bongshang, 1993; Crude, a comic book series by Steve Orlando and Garry Brown
The oil and gas industry is usually divided into three major sectors: upstream, midstream, and downstream. The downstream sector is the refining of petroleum crude oil and the processing and purifying of raw natural gas, [1] as well as the marketing and distribution of products derived from crude oil and natural gas.