Page 66 - Nigeriaone mag 2 edition en

Oil and Gas derivatives

Many drugs are derived from petrochemicals

The oil sector offers many Associated natural gas also is Several medicines found their
opportunities with the nume- found with deposits of crude oil origins in petrochemicals like
rous petroleum-based products either offshore or in deep oce- for example antihistamines, an-
that exist. There are several an. tibiotics, antibacterial, rectal
products that can be exploited In the stock market (New York suppositories, cough syrups, lu-
from oil and many people igno- Mercantile Exchange, NYMEX), bricants, creams, ointments,
re it. crude oil options are the most salves, and many gels…
Butane, diesel fuel, fuel oil ga- widely traded energy deriva- The fundamental question we
soline, kerosene, liquefied natu- tives. should ask ourselves is the fol-
ral gas, liquefied petroleum gas lowing: is oil going to be repla-
propane… to name a few, are ced any time soon? Well, when
the products we all are familiar we look at all the products that
with and can make an easy link come from it, it’s difficult to an-
with oil but there are even more swer in the positive. We are
that can be added to the list. conscious of the degradation of
More than 6,000 everyday pro- our environment and the nece-
ducts are derived from oil, and ssity to find valuable energy al-
this goes from food preservati- ternatives, but we should also
ves, tires, heart valves, dishwas- raise the question of what will
hing liquid, toys, to solar pa- become of the six thousand
nels, eyeglasses, DVDs… All the- products derived from oil, the
se are important products and revenues, and jobs they gene-
goods we use daily. Plastic bottles are petroleum derivatives rate.

Energy transition 66