The World's Oil Essay

1592 Words Aug 23rd, 2014 7 Pages
Mike Williams
The Petroleum Industry and World’s Oil Suppliers
February 21, 2014

History of Petroleum
The world petroleum means literally rock oil. It was thought to be a completely different oil than that which comes from vegetable sources such as the olive, but modern research has traced its origin to the lipids (oil) of planktonic (free floating) plants and animals which live in brackish water such as blue-green algaes and foraminifera. The brackishness is essential because aerobic bacteria does not live in brackish water. Aerobic bacteria would decompose all of the organic matter. In brackish water the organic matter of the planktonic plants and animals sinks to the bottom and is incorporated in clay sediments which
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A majority of the big oil companies such as Exxon Mobil, Chevron and BP operate in all three sectors of the industry.

The upstream petroleum supply chain encompasses exploration and appraisal, production and transportation of crude oil and gas to refineries for conversion into finished petroleum products (Enyinda et. al, 2011). The upstream oil and gas sector includes all the operations of seeking of seeking for potential underground or underwater oil and gas fields, drilling of exploratory wells, recovery and production of crude oil and natural gas. The upstream oil sector is also known as the exploration and production sector (Bandinelli, 2012). Exploration and development activities refer to all the upstream activities that are required to discover new and oil gas resources, and then developed to the point where they are ready to be refined. Exploration involves the search for petroleum, including seismic surveys and drilling (Jai Persaud, 2007). The oil discovered is then transported to refineries were it is converted into refined products.
Crude oil exploration and production is a major operation for an international oil company such as Chevron. Chevron owns and operates oil wells and fields around the world. Typically, partnering with oil producing countries in exploration and production.

The midstream sector comprises pipelines; rail,

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