Petroleum

Petroleum or crude oil is a liquid consisting of chains of hydrocarbons. These have been created from sediments rich in organic matter formed in the past and then under the influence of the deposition of new sediment packets on this source rock have been cooked. Because of pressure and heat that are higher deeper in the earth, oil bubbles arose from the organic-rich source layer.

The crude oil was lighter than groundwater and as a result wanted to rise upwards. This material searched a way to a reservoir rock where it accumulated. From this location the crude can pumped.

In the locations where crude oil is found often natural gas is uncovered. These have been formed becasue from organic sediments also gas (methane, nitrogen) has been released and because oil was concentrated in the reservoir and reached a saturation point where it turns into gas.

Oil is never used in its crude form but further processed in the petrochemical industry, in particular fuels and raw materials for a variety of plastics makes. Mostly all the material seen in organic chemistry are based on crude oil. Almost any organic substance which is used in the daily life is extracted from a compound from petroleum.

Would you like to know more about oil trading or how the Northwest European oil market is structurized, Please contact PJK International. Our company is specialized in research and analysis of market fundamentals like barge freight rates, oil product stocks, oil prices and more.

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