World Industry Analysis, Si..

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Oil sands, technically termed as bituminous sands come under a form of petroleum deposit. They’re loose or consolidated sandstone having naturally occurring mixture of sand, water and clay which is saturated with viscous and very dense type of petroleum called bitumen. Barauni Due to larger oil costs the oil sands and heavy oil market has seen a development.

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A few of the important thing components driving the expansion of this market are employment development rate, demand for oil and rising oil manufacturing globally. The extraction of oil sands and acquiring crude oil requires refining; this course of is expensive and reduces the margin for earnings in oil manufacturing compared to mining of crude oil.