Energy in Terranihil

Energy in Terranihil involves petroleum and natural gas production, consumption, and exports, and electricity production. Terranihil is one Terraconserva's leading oil producers and exporters. Terranihil's economy is petroleum-based; oil accounts for 85% of the country's exports and nearly 70% of government revenue. The energy industry is largely government owned and managed.

While most of the produced petroleum is exported, domestic use is rapidly increasing, primarily for electricity production. Terranihil also has some of the largest proven crude oil reserves in the world. The nation also has one of the largest reserves of natural gas in Ecros. The government has plans to diversify its energy sources, possibly investing in developing solar.

Petroleum

Reserves

Terranihil's proven oil reserves account for 20% of global proven oil reserves. About 60% of those reserves are found in eastern Terranihil. At the current rate of production, proven reserves are estimated to last 108 years. The Draki oil field is the largest oil field in the world. Experts believe many more untouched oil reserves exist in Terranihil. Several foreign sources claim that Terranilian reports on reserve size are smaller than reality and that Terranilian reports on depletion rates are higher than reality.

Production

Terranihil is one of the major oil producers in the world accounting for 13% of global oil production. The government invests billions of credits every year to increase oil production. Difficulties have arose because of the tapping of certain reserves continuously for several decades. Much of the easily obtained oil had already been exploited, and further tapping will likely be more expensive. This may indicate the peak in Terranilian oil production.

Shipping and export

The majority of the oil is shipped via supertankers to refineries around the world. Ports near Minaltar, Arožuegen, and Solume are the three largest oil shipping ports. Thest er Migalt off the coast of Minaltar is the world's largest offshore oil loading facility. The lack of international pipelines makes offshore shipping vital for the Terranilian oil industry.

Terranihil is the main provider of oil for several countries including Quebecshire, Willdavie, New Gandor, Karimun and Rakeo. Terranilian oil exports were at one point rivaled by Morova until the nation's demise.

Consumption

Terranihil's consumption of its own oil has steadily increased and it now consumes about 17% of its total oil production. As of 2016 petrol in Terranihil was sold at a cheaper price than bottled water.

TerraOil

Terranilian Oil Corporation, commonly known as TerraOil, is the sole producer of oil in Terranihil. The corporation is officially state owned and managed, however, it operates as a corporation for profit. The ownership and management of TerraOil is part of the Terranilian government's economic policy of national corporatism, which has been described as state capitalist.