Petroleum

Top Image: Pumpjack pumping an oil well near Lubbock, Texas. - Flcelloguy (extracted from Wikipedia Commons)

Petroleum is a black, dense, toxic, and very smelly substance found on the upper levels of Earth and used, overall, as fuel for electric power plats, machinery, ships, cars, trucks, planes, and even spacecraft once refined. In its pure form, crude is very toxic, unreliable, and has many undesired components within it that, if burned, are released into the atmosphere as dangerous and toxic gases.

National Regulation

Since the Oil Nationalization all petroleum on the Yudonian Exclusive Economic Zone is state-owned by Yuxpep, the national organization for oil, crude, natural gas, and all derivates. National prices of all of these are regulated by the company.

Commercial restrictions

In Yudonia it was, for a lot of time, illegal to buy any type of liquid fuel in a container that was not its final destination, and for this reason, cars had to be towed to a gas station if fuel ever run out, as it was really easy for terrorist organizations as the Yudox Anarko Movment (Yudonian Anarchic Movement) but since the Oil Nationalization it has been totally legal to buy any type of fuel without any type of restrictions, and nowadays it is even a common practice to always have a container inside any car or land vehicle filled with fuel, as a way of having a small emergency reservoir of fuel in case the vehicle had run out of it.

Geology

Petroleum was once thought of as an expensive fuel that was unreachable for Yudonia, but a couple years before the Oil Nationalization happened, a small deposit was found off the coast of Plavit. Years later it was found that the deposit was bigger than expected and was started to be extracted. After noticing that the reservoir levels were seemingly not going down, an extensive survey of the area proved that the deposit was actually massive, spamming a big zone of the south Mediterranean ocean. It was kept under secret, as Libyan waters were discovered to also have it, and a land buying agreement was sealed. The Yudo-Lybian Border Treaty was signed to later release to the public that the deposit was indeed massive, and Libya had just lost access to it.
Since then, oil has become one of the major economic agents of the country and Yudonia is the biggest oil derivate exporter from Europe, just after Russia and Norway.

Type

Ore/Mineral

Value

In between 40 and 70 USDollars a barrel