Why is Petroleum referred to as ‘Black Gold?

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It has immense value

It is black in colour

It is yellow in color

It is used in the making of jewellry

answer is A.

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Detailed Solution

Petroleum is called ‘Black Gold’ because it has immense value. The word petroleum is derived from two Latin words, petra, which means rocks, and oleum meaning oil. It is drilled from oil fields located in offshore areas and is found between the layers of rocks. After this, it is transferred to refineries which process the crude oil to produce numerous products ranging from diesel, petrol, kerosene, wax, plastics, and lubricants. Petroleum and its derivatives are called black gold because they hold immense value. Iran, Iraq, Saudi Arabia, and Qatar are the principal petroleum-producing countries.

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