Petroleum is also referred to as “Black Gold” which is a clear indication of its importance to human beings. Since 1950s, petroleum or oil has been the leading source of energy for the world. Petroleum translates to “rock oil” and when it gets drilled from the ground in its liquid state, it is known as the crude oil. Crude oil is known to be the “mother of all commodities” since it can be used for manufacturing various products like plastics, gasoline, pharmaceuticals, synthetic fabrics and etc.

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