BANKING AFFAIRS

Detailed explanation-1: -Petroleum, also called crude oil, is a fossil fuel. Like coal and natural gas, petroleum was formed from the remains of ancient marine organisms, such as plants, algae, and bacteria.

Detailed explanation-2: -Crude oil is a valuable resource that can be refined into petroleum products, including diesel fuel and gasoline. There are six types of crude oil: light/sweet, light/sour, medium/sweet, medium/sour, heavy/sweet, and heavy/sour.

Detailed explanation-3: -Petroleum refining or oil refining is an industrial process that extracts crude oil from the earth and converts it into useful items such as liquefied petroleum gas ( LPG), kerosene, asphalt base, jet fuel, diesel, heating oil, fuel oils, etc.

Detailed explanation-4: -Crude oil is a mixture of comparatively volatile liquid hydrocarbons (compounds composed mainly of hydrogen and carbon), though it also contains some nitrogen, sulfur, and oxygen. Those elements form a large variety of complex molecular structures, some of which cannot be readily identified.