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gas liquids' (NGL) can be very valuable by-products of natural gas
processing. NGL include ethane, propane, butane, iso-butane, and
natural gasoline.
These NGLs are sold separately and have a variety of
different uses; raw materials for oil refineries or petrochemical
plants, as sources of energy, and for enhancing oil recovery in oil
wells. Condensates are also useful as diluent for heavy crude, see
below.
The petroleum industry includes the global processes of
exploration, extraction, refining, transporting (often by oil tankers
and pipelines), and marketing petroleum products. The largest
volume products of the industry are fuel oil and gasoline (petrol).
Petroleum (oil) is also the raw material for many chemical
products, including pharmaceuticals, solvents, fertilizers,
pesticides, and plastics. The industry is usually divided into three
major components: upstream, midstream and downstream.
Midstream operations are usually included in the downstream
category.
Petroleum is vital to many industries, and is of importance
to the maintenance of industrial civilization in its current
configuration, and thus is a critical concern for many nations. Oil
accounts for a large percentage of the world’s energy
consumption, ranging from as low of 32% for Europe and Asia, up
to a high of 53% for the Middle East.
Other geographic regions’ consumption patterns are as
follows: South and Central America (44%), Africa (41%), and
North America (40%). The world consumes 30 billion barrels (4.8
km³) of oil per year, with developed nations being the largest
consumers. The United States consumed 25% of the oil produced
in 2007.[1] The production, distribution, refining, and retailing of
petroleum taken as a whole represents the world's largest industry
in terms of dollar value.
Governments such as the United States government provide
a heavy public subsidy to petroleum companies, with major tax
breaks at virtually every stage of oil exploration and extraction,
including for the costs of oil field leases and drilling equipment.

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