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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 ...
Petroleum products are materials derived from crude oil ( petroleum) as it is processed in oil refineries. Unlike petrochemicals, which are a collection of well-defined usually pure organic compounds, petroleum products are complex mixtures. [ 1] Most petroleum is converted into petroleum products, which include several classes of fuels.
Standard Oil is the common name for a corporate trust in the petroleum industry that existed from 1882 to 1911. The origins of the trust lay in the operations of the Standard Oil Company (Ohio), which had been founded in 1870 by John D. Rockefeller. The trust was born on January 2, 1882, when a group of 41 investors signed the Standard Oil ...
Crisco is an American brand of shortening that is produced by B&G Foods. Introduced in June 1911 [1] by Procter & Gamble, it was the first shortening to be made entirely of vegetable oil, originally cottonseed oil. Additional products marketed under the Crisco brand include a cooking spray, various olive oils, and other cooking oils, including ...
3-in-One Oil. 3-in-One Oil is a general-purpose lubricating oil sold for household and do-it-yourself use. It was originally formulated in 1894 for use on bicycles, and remains a popular lubricant for their chains. Its name, given by inventor George W. Cole of New Jersey in 1894, [1] reflects the product's triple ability to "clean, lubricate ...
ExxonMobil is mostly composed of the Standard Oil Company of New Jersey (Jersey Standard) and the Standard Oil Company of New York (Socony). The two companies partnered on a semi-frequent basis during their infancy before pursuing mergers and acquisitions, with Jersey Standard buying Texas-based Humble Oil and Socony merging with Standard descendant Vacuum Oil to form Socony-Vacuum. [3]
Products made from oil include plastics, asphalt, rubber, and thousands of chemicals. But the top ten oil-producing nations include global hot spots like Russia, the Middle East, and Iran.
Total final consumption (TFC) is the worldwide consumption of energy by end-users (whereas primary energy consumption (Eurostat) [27] or total energy supply (IEA) is total energy demand and thus also includes what the energy sector uses itself and transformation and distribution losses). This energy consists of fuel (78%) and electricity (22%).
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