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Natural gas is a fossil fuel consisting primarily of methane. Both oil and gas are produced by the anaerobic decay of organic material under the surface of the earth. They are therefore often found together. In general, gas is generated at higher temperatures and deeper under the surface than oil. Both oil and gas can be extracted by drilling, they are lighter than water and they tend to rise from their sources when released from their underground pockets. Petroleum is mostly used for producing fuel, oil and petrol. Methane is a green house gas that contributes to the green house effect. The world’s largest gas fields are situated in Iran, Russia and Kazakhstan.
Saying the country is under pressure from the global financial troubles and wary of another gas crisis, Bulgaria's parliament ordered Prime Minister Sergey Stanishev's cabinet on January 23d, to explore the possibilities for the restart of dormant nuclear reactors.
According Benita Ferrero-Waldner, the European Commissioner responsible for External Relations and European Neighbourhood Policy, the Arctic zone could contain as much as 25 percent of the world’s untapped oil reserves, RosEnergy newswire reported
The Russian Duma has created a group focusing on the environmental problems of Russia’s far in response to the boomtown rush to tap the areas vast natural resources, specifically oil and gas, Russian media reported.