The Past, Present And Future Of Oil In The World

The petrol and diesel we use in the vehicles and kerosene oil that burns a stove, are actually made up of the dead bodies of plants and animals. Four hundred million years before, these plants and animals were present in the oceans, when they died their dead bodies settled under the bottom of water. Slowly and gradually their remains were buried under the layers of millions tonnes of sand and soil. When due to geographical changes oceans changed their locations or vanished from that specific site, the extreme pressure of the soil and internal temperature changed the organic matter into oil and gas.
Sumeris and Babylonians residing in the valley of Dajla and Furat were the first men on earth who discovered oil after digging the under ground pitches. However, they could not make use of the oil but, rich persons used oil for burning.
The modern use of oil started during the 19th century in Mid Europe. At that time oil rigs(wells) were excavated in Azerbaijan and refineries were built in Poland and Romania. Today experts have screened out each and every corner of the earth and nearly all underground reserves have been discovered.
According to the experts there was 1000 billion barrel oil present under the ground, out of which half has been used. The remaining half is present in the lower most most layers of the ground and on complicated sites. The excavation process of these reserves oil is too costly and difficult. At present we are using 80.80 million barrels daily that demand of oil is expected to rise up to 100 million barrels per day.
Today European Union, USA, China, Japan and India are the largest consumers of fuel. All these countries during the current year will purchase oil worth $ 500, 426, 119.25 and 118 billion, respectively. While all the countries will spend $ 2000 billion in this respect. Pakistan is importing petroleun products of $10 billion, annually.
It is noteworthy that one barrel crude oil is equal to 42 American gallons or 159 liters. Crude oil is a liquid of unpleasant smell having deep color. One barrel crude oil has 87 % Carbon, 13 % hydrogen, 2 % Nitrogen, 1.5 % Oxygen and remaining are Sulfur, inert material and gases.
Refineries clean the crude oil and different petroleum products are obtained. One barel of crude oil gives 19 gallons petrol, 10 gallons diesel, 4 gallons jet fuel, 20 % LPG and 7 gallons other by products like kerosene and mobile oil.
At present the largest oil reserves in Saudi Arabia (126 billion barrels), Venezuela ( 21 billion), Canada ( 17.5 billion), Iran ( 13.7 billion), Iraq (11.5), Kuwait(10.4 billion), UAE ( 970 million), Russia ( 600 million) and and libya has 470 million barrel oil reserves.