From urea to plastic product marketing, we apply our knowledge and skills to every link in the oil chain. We have been working to meet the growing demand for this preeminent energy source, which is a key driver of industrial development.
The 20th century’s primary engine of industrial growth, oil quickly became the reigning fossil fuel, a category that comprises oil, coal and natural gas. A concentrated, liquid form of energy, petroleum is easy to store and transport and has many applications. It can be used to produce automotive and aviation fuel, to heat homes and other buildings and to fire power plants. Lubricants – oil, grease and wax – bitumen and asphalt, plastics, synthetic fibers, solvents and other products are derived from it.
Oil’s preeminence in the global energy mix will remain unchallenged in the foreseeable future. According to the International Energy Agency, which predicts that primary energy demand will climb more than 50% by 2030, demand for oil will continue to rise, in no small part to satisfy China and India’s thirst for energy. Oil is expected to meet about one-third of the world’s primary energy needs in 2030, the same as it does today.