The Oild and Petroleum Industry

Introduction Malaysia's oil and petroleum industry is operated under an oligopolistic market structure. Petronas and Shell are famous companies that produce and sell oil in Malaysia. Established on August 17, 1974, PETRONAS is an oil company in Malaysia that owns and manages Malaysia's oil resources completely. For many years, Petronas "grew into a fully integrated oil and gas company and was selected as the largest company in the Global Fortune 500 company" (Petronas, 2014).

The petroleum industry includes global exploration, mining, refining, transportation (usually through tankers and pipelines), and advertising processes for petroleum products. The main products in the industry are fuel oil and gasoline (gasoline). Petroleum (petroleum) is a raw material for many chemical products as well as pharmaceuticals, solvents, chemical fertilizers, pesticides, plastics. This industry is usually divided into three major components: upstream, midstream and downstream. Processing / refining: The processing and refining business will convert crude oil and natural gas to marketable products. In the case of crude oil, these products include kerosene, gasoline for automobiles, jet fuel, diesel. Purification processes include distillation, vacuum distillation, catalytic reforming, catalytic cracking, alkylation, isomerization and hydroprocessing.

Several industries are acting amazingly. Oil industry in the world is often defined as oil exploration, refining, transportation (tankers and pipelines), sales of mining and petroleum products. A wide range of industrial products, including crude oil and other related derivatives known as petroleum products, and products used in the petrochemical industry. Industry classification is divided into five divisions: upstream, downstream, ship, pipeline, supply and service (Kakada, 2014). The oil industry in the world can drive most of the engine properly expressed as the world economic development. In today's international market, the most attractive product transactions are rough. For more than a century, crude oil was the main energy source of the world. The petroleum industry is said to be the most periodic activity and supplies more than 70% of world energy demand (Unknown, 2014).