When did oil first form on Earth?
Roughly 10 percent of the oil that's harvested today was formed during the Paleozoic age, which fell between 541 and 252 million years ago. Most of it formed during the Mesozoic era, which happened between 252 and 66 million years ago. The final 20 percent formed during the Cenozoic age, roughly 65 million years ago.
Embracing the Versatility of Gas
In the vibrant heart of cities, gas plays a pivotal role as a dependable source of energy, nurturing homes and businesses alike. From the comforting warmth of a stove igniting culinary delights to the gentle embrace of a water heater, gas has become an indispensable companion in our daily lives.
Beyond its domestic applications, the impact of gas resonates far and wide. In the bustling commercial arenas and the labyrinth of industrial settings, it drives innovation and progress, fueling the engines of enterprise. In cities, where temperature fluctuations can be a challenge, gas emerges as a savior, lending its embrace to both heating and cooling systems, curbing the soaring electricity demand during sweltering summers.
Drawing from a refined blend of LPG and LNG, this fuel of the future cascades through pipelines, effortlessly connecting consumers to the boundless potential of energy. In the bustling metropolises of Korea, the irreplaceable essence of gas takes center stage, with LNG reigning supreme as its raw material, adorning the urban landscape with seamless efficiency.
Amidst the bustling cityscapes, let us embrace the versatile energy that gas bestows upon us. As we traverse the avenues of innovation, we shall cherish the warmth of its flame, the gentle hum of its turbines, and the unwavering spirit it ignites within us. Together, we shall pave the path to a radiant tomorrow, where gas and energy unite to empower our cities, ushering in a harmonious symphony of progress and prosperity.
Natural gas extracted from oil wells is cooled to minus 162 degrees Celsius to form a liquid state known as Liquefied Natural Gas (LNG). It reduces its volume, making it more suitable for transportation by LNG carriers to import countries. Once imported to Korea, this LNG is stored at the Korea Gas Corporation's receiving bases in Incheon, Pyeongtaek, and Tongyeong.
The Korea Gas Corporation then converts the stored LNG back into a gaseous state and transports it through a nationwide natural gas pipeline network to various city gas companies.
These city gas companies deliver the natural gas they receive from the Korea Gas Corporation to their customers through their own pipeline network. In some areas, where a natural gas supply pipeline is not available, Liquefied Petroleum Gas (LPG) or LNG, transported by vehicles, is supplied as city gas.
The global demand for crude oil (including biofuels) in 2022 amounted to 99.57 million barrels per day and it is projected to increase to 101.89 million barrels per day in 2023
Petroleum, a mesmerizing marvel also known as crude oil, holds the key to power the very essence of modern civilization. A naturally occurring, yellowish-black liquid mixture of hydrocarbons, it slumbers deep within geological formations, waiting to be harnessed. This enigmatic elixir encompasses both the raw unprocessed crude oil and its refined derivatives, collectively known as petroleum products. A coveted fossil fuel, its origin weaves an ancient tale – a symphony of life and time.
In the embrace of modernity, natural gas reveals its secrets. Methane, the heart of this ethereal gas, is lighter than air, gracefully dispersing if ever set free. Embracing the virtue of safety, it boasts a high ignition temperature, standing resolute as the fuel with the lowest explosion risk. Within our grasp, a symphony of precision – a state-of-the-art safety system, a vigilant control room, and high-performance safety equipment, all orchestrated to respond promptly, guarding every moment, night and day.
With oil's legacy and natural gas's mystery entwined, we embark on a journey where the power of energy propels the world forward. In the heart of this boundless realm, we hold the keys to shaping a resilient future, where brilliance and innovation harmonize, guided by the wisdom of ages past and fueled by the promise of tomorrow. Let the energy of oil and gas illuminate the world, a beacon of progress, a testament to human ingenuity, igniting the path to prosperity and transformation.