Petroleum (from Latin petra – rock and oleum – oil) or crude oil (also known as black gold) is a black, dark brown or greenish liquid found in formations in the earth. The American Petroleum Institute, in its Manual of Petroleum Measurement Standards (MPMS), defines it as "a substance, generally liquid, occurring naturally in the earth and composed mainly of mixtures of chemical compounds of carbon and hydrogen with or without other nonmetallic elements such as sulfur, oxygen, and nitrogen."
Petroleum is found in porous rock formations in the upper strata of some areas of the Earth's crust. It consists of a complex mixture of hydrocarbons, mostly alkanes, but may vary greatly in appearance and composition. Petroleum is used mostly, by volume, for producing fuel oil and petrol (gasoline), both important "primary energy" sources (IEA Key World Energy Statistics). Petroleum is also the raw material for many chemical products, including solvents, fertilizers, pesticides, and plastics. 84% (37 of 42 gallons in a typical barrel) of all petroleum extracted is processed as fuels, including gasoline, diesel, jet, heating, and other fuel oils, and liquefied petroleum gas [1]; the other 16% is converted into other materials such as plastic.
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