CHAPTER ONE

1.1     INTRODUCTION

The discovery of petroleum has taken place for about one hundred and fifty years ago, that was 1859 when the first underground oil was drilled in the United State in Titusville and Pennsylvania.

Petroleum is different from other oils, because it is being manufactured from mineral source rather than animal and vegetable. The source from which petroleum comes from distinguish it from other kinds of oils, since it has been discovered as the valuable product in the world, there was modern technology on the consumerism of petroleum energy which made the product probably to become the most valuable.

Since petroleum is the most widely used source of energy in the world due to the industrialization development and also because a nation blessed with petroleum is economically well positioned because the product is very significant in the nations development. Petroleum is very important and popular base on the fact that, it produces energy in the operation of machines for the use of mankind.

          The oil product is used in lubricating most machines in different industries to have long lifespan and it is also used to powered most form of transportation, like ship, train aero plane etc.The work of exploration and exploitation of petroleum involve geologist who discovered the oil exploitation to be a risky business. The first oil well was only sixty percent (60%) deep, under normal circumstances a well must be drilled before the possibility of a settlement of oil at a particular location can become certainty.

          The techniques used in drilling oil well is cable tool which is still the same as the one used for the first oil well in the year 1959, mean while, after the oil must have been ascertained to be in a particular oil well, it is passed to the storage tanks to be refined and later for marketing.

• STATEMENT OF THE PROBLEM

Petroleum serves as form of natural product, but it could have not been discovered if not for the assistance of some geologists who worked on oil exploitation.

Moreover, the marketing of petroleum products serve great advantage to the nation most especially the Nigerians, because this product could have been of no advantage a benefit to the poor people if not because it has been introduced into the market and to be marketing in the best possible way in which people can obtain it easily for their use.

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