Petroleum is known as Black gold.

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Detailed Solution

The above statement is true.
Petroleum is a liquid form that naturally exists below the surface of the earth. We extract it from deep within the soil. The petroleum-based refined oil that we refer to as petrol is the fossil fuel that we utilise today. The liquid that is extracted goes through several extraction and purification processes. The petroleum is black when the crude oil is taken from beneath the earth, but it turns gold-like yellow after refinement. Due to its properties, petroleum is as valuable as gold. It is the rationale behind the nickname "black gold" for petroleum.

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