Oil
|
Oil consists of various hydrocarbons. It is produced by the anaerobic decay of organic material under the surface of the earth. 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. The burning of oil releases carbon dioxide into the atmosphere. Extraction of oil is costly and environmentally damaging. The top petroleum-producing countries are Saudi-Arabia, Russia, the United States and Iran.
wikimedia commons
Photo: Thomas Nilsen
rosatom
Energy ministers of five southern European countries signed a declaration on building a 1319-km long pipeline to pump oil from Romania to Italy.
Russian oil exports through the Barents Sea might reach 150 million tons within a decade, a draft report from the Norwegian Barents Secretariat states. The report demonstrates that the Shtokman gas field is only a part of a far broader picture with the development of several new export terminals and hydrocarbon fields under planning.
The Severnaya Neft Company intends to construct new port and terminal facilities in the Pechenga Bay (Murmansk region).