This is the primary product in the oil and trading industry. Crude oil is extracted from oil wells and is the unrefined form of petroleum. It is traded and transported to refineries for further processing.
Refined Petroleum Products
These are the processed products derived from crude oil through refining processes. Some common refined petroleum products include gasoline (petrol), diesel fuel, jet fuel, heating oil, and liquefied petroleum gas (LPG).
Natural gas is a vital product in the oil and trading industry. It is a fossil fuel primarily composed of methane and is used for heating, electricity generation, and as a feedstock for various industrial processes.
Petrochemicals are chemical products derived from petroleum or natural gas. They are used as raw materials in the production of a wide range of products, including plastics, fertilizers, solvents, synthetic fibers, and rubber.
Liquefied Natural Gas (LNG)
LNG is natural gas that has been cooled to a liquid state for transportation and storage. It is mainly used for long-distance transportation and international trade, allowing natural gas to be transported more efficiently.
Fuel oil refers to a range of heavy, viscous petroleum products used as fuel for ships, power plants, industrial boilers, and heating systems. It includes various grades such as residual fuel oil and marine bunker fuel.
Bitumen, also known as asphalt, is a sticky, black, and highly viscous form of petroleum used primarily in road construction and waterproofing applications.
Petroleum coke, or pet coke, is a solid carbon material derived from the refining process. It is used as a fuel and in the production of anodes for aluminium smelting and electrodes for the steel industry.
Additives and Chemicals
Various additives and chemicals are used in the oil industry for enhancing the performance and properties of fuels, lubricants, and other petroleum products. These can include additives for fuel stability, corrosion inhibitors, antioxidants, and demulsifiers.