World Sets New Oil Production and Consumption Records

World Sets New Oil Production and Consumption Records

Last month BP (NYSE: BP) released the¬†Statistical Review of World Energy 2014. This report is one of the most comprehensive sources of global and country-level statistics on the production and consumption of oil, natural gas, coal, nuclear power, and renewables. Right after the release of the report, I wrote a¬†short post discussing the highlights. Today … Read more

Categories Oil

Crude Formation And Production – How is It Made?

crude oil

How Is Crude Oil Formed? It is generally believed that crude oil was formed from the remains of animals and plants (called biomass) that lived many years ago. Over eons, the biomass was covered by layers of mud, silt, and sand that formed into sedimentary rock. Geologic heat and the pressure of the overlying rock … Read more

Categories Oil