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Why is petroleum called black gold?

Petroleum is called black gold because of its great commercial importance. Many useful substances are obtained from petroleum and natural gas. These are termed as ‘Petrochemicals’. These are used in the manufacture of detergents, fibres (polyester, nylon, acrylic etc.), polythene and other man-made plastics. Hydrogen gas obtained from natural gas is used in the production of fertilisers (urea).

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