Petroleum

Petroleum is a naturally occurring mixture of hydrocarbons found in rock formations, including liquid crude oil and, in broader usage, natural gas. It forms from ancient organic matter transformed by heat and pressure over geological time.

Petroleum formation: The geological transformation of buried organic matter into hydrocarbons through heat and pressure. Explains how petroleum originates from organic matter within sedimentary basins.
Hydrocarbon: A chemical compound composed only of hydrogen and carbon atoms. Hydrocarbons are the defining chemical constituents of petroleum.
Petroleum industry: The global system of companies and activities involved in exploring for, producing, transporting, and processing petroleum. This industry organizes petroleum’s extraction and movement from deposits to markets.
Petroleum economics: The study of petroleum’s production, trade, pricing, and effects on economies. Petroleum’s uneven distribution and changing prices shape national economies.
Coal: A combustible sedimentary rock formed largely from ancient plant matter. Coal is another fossil fuel, but it is solid and forms mainly from terrestrial plants.
Source rock: A rock rich in organic matter that generates hydrocarbons during burial and heating. Petroleum begins in source rocks before moving into reservoirs.
Crude oil: Unrefined liquid petroleum extracted from underground reservoirs. Crude oil is the liquid portion most commonly meant by petroleum.
Oil well: A drilled borehole used to produce petroleum or to investigate an underground formation. Oil wells provide access to petroleum-bearing formations.
Oil crisis: A disruption in oil supply or prices that causes major economic and political effects. Supply shocks show how dependence on petroleum can spread costs widely.
Oil shale: A fine-grained sedimentary rock containing kerogen that can yield liquid hydrocarbons when heated. Oil shale contains an unconverted petroleum precursor rather than freely flowing crude oil.

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