XPetroleum is a next-generation oil platform based on the Ethereum blockchain with smart contracts. We are building one of the largest trust oil economy in the Blockchain. XPetroleum will revolutionize the oil industry and make it transparent. The oil industry is one of the most essential markets in the world, oil market size is $1.7 trillion. Blockchain offers many features to make back-office work more efficient: Transparency, Financial transactions, Enabling performance-based contracts, Track provenance for authenticity, Secure, Cost and Time. Our goal is to set up the Xpetroleum Oil Company if we reach our soft cap. Then we will start to conduct various petroleum activities
Petroleum is a general term for oil and natural gas. Oil is the world’s most important fuel and underpins our high standard of living. It provides modern convenience and freedom of movement and is crucial to transport systems. Petroleum is a fossil fuel. Petroleum is often called crude oil, or oil. It is called a fossil fuel because it was formed from the remains of tiny sea plants and animals that died hundreds of millions of years ago. When the plants and animals died, they sank to the bottom of the oceans. Here, they were buried by thousands of feet of sand and sediment, which turned into sedimentary rock. As the layers increased, they pressed harder and harder on the decayed remains at the bottom. The pressure and some heat changed the remains and, eventually, petroleum was formed.Petroleum deposits are locked in porous rocks almost like water is trapped in a wet sponge. When crude oil comes out of the ground, it can be as thin as water or as thick as tar. Petroleum is called a nonrenewable energy source because it takes hundreds of millions of years to form. We cannot make new petroleum reserves.
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