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Gasoline or petrol is a transparent, slight yellowish petroleum-derived flammable liquid that is used primarily as a fuel in most spark-ignited internal combustion engines. It consists mostly of organic compounds obtained by the fractional distillation of petroleum, enhanced with a variety of additives. On average, U.S. refineries produce, from a barrel of crude oil, about 19 to 20 gallons of gasoline; 11 to 13 gallons of distillate fuel ; and 3 to 4 gallons of jet fuel. The product ratio depends on the processing in an oil refinery and the crude oil assay.
An energy crisis or energy shortage is any significant bottleneck in the supply of energy resources to an economy. In literature, it often refers to one of the energy sources used at a certain time and place, in particular, those that supply national electricity grids or those used as fuel in industrial development. Population growth has led to a surge in the global demand for energy in recent years. In the 2000s, this new demand – together with Middle East tension, the falling value of the US dollar, dwindling oil reserves, concerns over peak oil, and oil price speculation – triggered the 2000s energy crisis, which saw the price of oil reach an all-time high of $147.30 per barrel ($926/m3) in 2008.
The fuel protests in the United Kingdom were a series of campaigns held in response to the rising petrol and diesel fuel prices for road vehicle use. There have been three notable campaigns amongst many other protests in the 21st century. The first major protest in 2000 was primarily led by independent lorry owner-operators. One group of lorry owner-operators from the South East of England formed a protest group called "TransAction" that protested at oil refineries and fuel depots in Essex. Protests and blockades of oil facilities caused widespread disruption to the supply of petroleum products. The aim of the protests was to secure a reduction in the fuel duty rate on petrol and diesel, which the government refused to enact. After the protest ended, the government did announce a freeze on fuel duties, and promised changes would be made to the way that goods vehicles were taxed, which would include the taxing of foreign vehicles operating on British roads.
Petroleum products are materials derived from crude oil (petroleum) as it is processed in oil refineries. Unlike petrochemicals, which are a collection of well-defined usually pure organic compounds, petroleum products are complex mixtures. Most petroleum is converted into petroleum products, which include several classes of fuels.
Oil Storm is a 2005 television simulation portraying a future oil-shortage crisis in the United States, precipitated by a hurricane destroying key parts of the United States' oil infrastructure. The program was an attempt to depict what would happen if the highly oil-dependent country was suddenly faced with gasoline costing upwards of $7 to $8 per gallon. Directed by James Erskine and written by Erskine and Caroline Levy, it originally aired on FX Networks on 5 June 2005, at 8 p.m. ET.
Coryton Refinery was an oil refinery in Essex, England, on the estuary of the River Thames 28 miles (45 km) from central London, between Shell Haven Creek and Hole Haven Creek, which separates Canvey Island from the mainland.
Marsden Point Oil Refinery was a 96,000 BPD refinery located at Marsden Point, Whangarei, Northland, New Zealand. It was the only oil refinery in New Zealand, and is operated by Refining NZ. The point was named after Samuel Marsden. The regional survey map shows it was called Marsden Point in 1907.
Grangemouth Refinery is a mature oil refinery complex located on the Firth of Forth in Grangemouth, Scotland, currently operated by Petroineos.
Ceylon Petroleum Corporation, commonly known as CEYPETCO (CPC), is a Sri Lankan oil and gas company. Established in 1962 and wholly owned by the Government of Sri Lanka, it is largest oil company in the Sri Lanka. It was formed in 1961 by nationalisation and expropriation of all private oil companies in Sri Lanka at the time of its formation. It is under the ownership of Ministry of Petroleum Resources Development headquartered in Colombo. It is the largest government owned company in the country, with an operational profit of Rs. 33.9 billion for the financial year 2020.
The Ministry of Energy is the cabinet ministry of the Government of Sri Lanka responsible for oversight of the country's energy supply via crude oil import, storage and refining, as well as sale of processed petroleum products. It is thus responsible for the maintenance of petroleum and petroleum product storage and transport facilities as well as for developing the country's natural gas and crude oil reserves.
Indian Oil Corporation Limited is an Indian Public sector undertakings in India under the ownership of the Ministry of Petroleum and Natural Gas, Government of India. It is headquartered in New Delhi. It is a public sector undertaking whose operations are overseen by the Ministry of Petroleum and Natural Gas. Indian Oil is ranked 142nd on the Fortune Global 500 list of the world's biggest corporations as of 2022. It is the largest government owned oil producer in the country both in terms of capacity and revenue.It has consolidated refining capacity of 80.55MMTPA which it intends to increase to 107MMTPA by 2024-25. As of 31 March 2021, Indian Oil's employee strength is 31,648, out of which 17,762 are executives and 13,876 non-executives, while 2,776 are women, comprising 8.77% of the total workforce.
The petroleum industry in India dates back to 1889 when the first oil deposits in the country were discovered near the town of Digboi in the state of Assam. The natural gas industry in India began in the 1960s with the discovery of gas fields in Assam and Maharashtra. As on 31 March 2018, India had estimated crude oil reserves of 594.49 million metric tonnes (Mt) and natural gas reserves of 1339.57 billion cubic metres of natural gas (BCM).
Lanka IOC PLC is a subsidiary of Indian Oil Corporation which operates retail petrol and diesel stations in Sri Lanka. LIOC is Sri Lanka's only private sector organisation retailing fuels with an island-wide distribution network of 211 retail outlasts. Its headquarters in the Colombo City, Colombo.
The Sapugaskanda Refinery is the single largest oil refinery of Sri Lanka. The refinery was built by Iran under the guidance of the Ceylon Petroleum Corporation in August 1969, initially designed to process 38,000 barrels (6,000 m3) per stream day of Dubai crude oil, and Arabian light crude oil. It was commissioned on 12 October 1969. The facility, which covers an area of 165 acres (67 ha), currently has a capacity of 50,000 barrels (7,900 m3) per stream day.
The Hambantota Refinery is an oil refinery to be developed in Mirijjawila, Hambantota, in the Southern Province of Sri Lanka. The 585-acre (237 ha) refinery will be built and owned by Singapore's Silver Park International (Private) Limited (70%) and Oman's Ministry of Oil and Gas (30%). Silver Park International is an investment vehicle owned by India's Accord Group. It will have a refining capacity of 200,000 barrels (32,000 m3) per stream day, ten times the capacity of the Sapugaskanda Refinery, the country's only other refinery which was built in 1969 by Iran.
Despite having the largest oil reserves in the world, Venezuela has experienced fuel shortages several times throughout its history due to both economic and political reasons. The general strike of 2002–2003 resulted in the stoppage of the oil industry, which caused fuel shortages domestically, and Nicolás Maduro's administration has experienced chronic gasoline shortages.
The Sri Lankan economic crisis is an ongoing crisis in the island country of Sri Lanka that started in 2019. It is the country's worst economic crisis since its independence in 1948. It has led to unprecedented levels of inflation, near-depletion of foreign exchange reserves, shortages of medical supplies, and an increase in prices of basic commodities. The crisis is said to have begun due to multiple compounding factors like tax cuts, money creation, a nationwide policy to shift to organic or biological farming, the 2019 Sri Lanka Easter bombings, and the impact of the COVID-19 pandemic in Sri Lanka. The subsequent economic hardships resulted in the 2022 Sri Lankan protests.
The 2021 United Kingdom fuel supply crisis was a period of a few weeks in which petrol stations in some parts of the UK ran out of fuel.
The 2022-2023 Pakistani economic crisis is an ongoing economic crisis and part of 2022-2023 political unrest in Pakistan. It has caused severe economic challenges for months due to which food, gas and oil prices have risen.
The 2021–2022 global energy crisis has caused varying effects in different parts of the world.
References
- 1 2 "Sri Lanka's sudden Petrol Crisis: What we know (VIDEO) - Sri Lanka News". 6 November 2017.
- 1 2 "Something fishy over fuel shortage: TU".
- ↑ "Fuel tanker 'Neveska Lady' arrives".
- ↑ "What is the 'real reason' behind Sri Lanka's sudden fuel shortage? - Sri Lanka News". 4 November 2017.
- 1 2 "Petrol shortage leaves public : PETRIFIED". 11 November 2017.
- 1 2 "Lanka to buy oil from S'pore spot market". The Sunday Times. 5 November 2017. Retrieved 28 November 2017.
- ↑ "Someone wanted Min. Ranatunga to accept the rejected fuel stock - Sri Lanka News". Sri Lanka News - Newsfirst | Breaking News and Latest News provider | Political | Sports | International | Business. 6 November 2017. Retrieved 28 November 2017.
- 1 2 3 "Petrol issue investigation inconclusive: CPC officials, the mafia blamed". Sunday Observer. 18 November 2017. Retrieved 28 November 2017.