Related topics: gulf of mexico · oil spills · oil

US oil price plummets: What does it mean?

U.S. oil prices plummeted below zero at the close of market Monday, a historic first for the commodity. As dwindling demand caused by COVID-19 shutdowns pushed storage facilities to their brink, the price per a barrel dropped ...

Satellites map the global flow of oil

Demand for oil has collapsed due to the coronavirus pandemic just as supply is about to strengthen because of a dispute between Russia and Saudi Arabia. As a result, oil prices have sunk to levels not seen since 2002.

Piracy takes greater toll on small Persian gulf energy exporters

Tanker traffic through the Strait of Hormuz can decline for up to two years after a piracy attack, a new Duke University study finds, but the adverse effects of the slowdown are far greater on some Persian Gulf countries ...

Experts: Trade wars bad for US and global energy security

Policy that raises barriers to international trade does not bode well for U.S. and global energy security, according to a new research paper by experts in the Center for Energy Studies at Rice University's Baker Institute ...

The greenbacks in mobile phone mines

No-one who is economically active can afford to go without at least a mobile phone, and at the pace that electronic equipment is re-invented, it's only a matter of time before your 'latest' iPhone 11 ends up on a dump site.

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Petroleum

Petroleum (L. petroleum, from Greek πετρέλαιον, lit. "rock oil") or crude oil is a naturally occurring, flammable liquid found in rock formations in the Earth consisting of a complex mixture of hydrocarbons of various molecular weights, plus other organic compounds.

The term "petroleum" was first used in the treatise De Natura Fossilium, published in 1546 by the German mineralogist Georg Bauer, also known as Georgius Agricola.

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