History of Petroleum Industry

The process of converting organic material into carbon-rich substances like coal and petroleum, which are later extracted and used for various purposes.

Ancient Sumerian civilization's expertise in utilizing bitumen, a naturally occurring petroleum form, for building and sealing boats, showcasing the significance of petroleum in ancient times.

The discovery of the first industrial oil well in North America, in Oil Springs, Ontario, Canada, in 1858, by Williams, paving the way for further exploration.

The establishment of the first oil refinery in Pithole, Pennsylvania, in 1860, enabled the production of kerosene and other petroleum products, contributing to the petroleum industry's growth.

The construction of the first oil pipeline by the U.S. Army during World War II, ensuring a consistent fuel supply, illustrating the essential role of oil in military operations.

The creation of the Organization of Petroleum Exporting Countries (OPEC) in 1960 aimed at controlling oil production and setting prices, empowering oil-exporting nations.

The Arab oil embargo of 1973-1974 caused a significant surge in oil prices, highlighting the strategic importance of oil to global economies.

The Chinese were pioneers in oil transportation using bamboo pipelines around 600 BCE, showcasing their innovative use of natural resources.

The process of extracting and refining crude oil to produce valuable products like gasoline, diesel, and kerosene.

The complex mixture of hydrocarbons found in the earth, serving as the primary source for petroleum products.

A sustainable approach that prioritizes minimizing environmental harm while maximizing product quality.

Chemicals derived from natural sources, like vegetable oils, offering environmentally friendly alternatives to petroleum-based products.

A type of coating that is applied as a powder, offering durability and environmental benefits compared to liquid paints.

A continuous process that converts vegetable oils, like coconut oil, into biodiesel, a renewable fuel source.

A core aspect of a business plan that focuses on minimizing environmental impacts and promoting social responsibility.

Manufacturing utilizing natural resources to manufacture high-quality products, minimizing environmental harm.

The industry focused on producing chemicals derived from petroleum, used in materials like plastics, fertilizers, and textiles.

A company that processes and manufactures products from petroleum.

Large pipes and pipelines used in petrochemical companies for moving and processing materials.

The process of converting oil into biodiesel, a biofuel made from renewable resources.

The process of extracting useful components from crude oil, like gasoline or diesel.

The potential for damage caused by oil spills, including economic loss, environmental impact, and harm to livelihoods.

A type of corrosion that specifically affects oil refineries due to the harsh conditions and chemicals involved.

The price of oil significantly dropped in the 1980s due to an excess supply, impacting global markets and prompting changes in oil production.

The oil industry faced significant challenges in the 21st century, primarily related to environmental sustainability and climate change.

Commercial deepwater oil production in the Gulf of Mexico began in the 2000s, creating new opportunities for offshore drilling.

The 2008 financial crisis led to rising oil prices, exceeding $147 a barrel. This impacted economies and energy policies worldwide.

Petrochemicals are a broad category of compounds derived from natural gas and petroleum, vital for numerous industries.

The petrochemical industry emerged in the early 1900s with the invention of thermal cracking, converting crude oil into valuable chemical feedstock.

The production of ethylene, the most basic feedstock used in the petrochemical industry, became a reality with the formation of Carbon Chemicals Corporation and Carbide in the 1920s.

Following World War II, research and development in petrochemicals increased dramatically, with the United States emerging as a leader in this field.

In 2021, transportation fuels accounted for the largest share of the Philippine petroleum industry, representing 72.3% of the market. This dominance is expected to continue in 2027, with a projected market share of XX.X%.

The Philippine petroleum industry saw a significant share of its market in 2021, allocated to various applications like fuel oil, asphalt, agriculture, pharmaceuticals, and cosmetics. These applications, however, hold smaller shares compared to transportation fuel, with feedstocks comprising a modest portion of the market.

The transportation sector is the most significant end-user of petroleum in the Philippines, representing 70% of the market share in 2021. This dominance is projected to continue in 2027, although other industries may see slight shifts in their demand.

Petron holds a substantial market share in the Philippine petroleum industry, commanding 27.3% in 2020. Other key players include Every Oil Company, Pilipinas Shell, Chevron Phillips, Phoenix Petroleum, SeaOil Philippines, Liquigaz Philippines Corporation, and UniOil.

The petrochemical industry in the Philippines plays a crucial role in the country's economy, supplying essential products to various sectors.

Petroleum remains a fundamental component of the Philippines' transportation sector and various industries, demonstrating its continued importance in the economy.

The Philippine petroleum industry is a vital economic sector, contributing significantly to the country's Gross Domestic Product (GDP).

The Philippine petroleum industry is experiencing changes in its market share across various application sectors, indicating a dynamic landscape.

A method that monitors and adjusts system performance in real-time to prevent small inefficiencies from becoming major bottlenecks.

A key area for mitigating bottlenecks by improving the predictability and efficiency of raw material sourcing and delivery.

Using data analysis to predict future demand and optimize logistics, leading to reduced delays, excess inventory, and improved material availability.

A cutting-edge technology used in the petroleum industry to visualize subsurface geological formations, enabling efficient and precise location and extraction of hydrocarbons.

Dense, non-aqueous phase liquids that can pose environmental issues and impact hydrocarbon extraction

The process of introducing new ideas, methods, or technologies to enhance a company's operations, products, or services.

Petroleum and petrochemical companies often adopt new technological advancements to improve efficiency, safety, and sustainability.

The use of technology to gather and analyze data about geological formations for the purpose of oil and gas exploration and production.