Most petroleum is extracted from oil wells found in oil fields. Although it is also possible to extract petroleum from oil shale or tar sands, both of which are known to exist in large quantities, doing so at low cost and without impacting the environment remains a challenge. The first modern oil well was drilled in 1848 in Azerbaijan, but it was the introduction of the internal combustion engine in the early 20th century that provided the demand that has largely sustained the industry to this day. The top three oil producing countries are Saudi Arabia, Russia, and the United States.

Burning oil releases carbon dioxide into the atmosphere, one of the major greenhouse gases contributing to global warming. Bioethanol and biodiesel are already used to some extent as alternatives, notably in Brazil, as are hybrid electric vehicles. Trials using hydrogen fuel are also in progress. There are further concerns about security of supply, oil price rises and whether world oil production may reach a peak, before declining, as predicted by Hubbert peak theory.

• The development of renewable energy in Iceland means that by 2050 the country should be the world's first zero-carbon economy?

• World's two largest oil shale-fired power plants (Narva Power Plants) generate more than 90% of power in Estonia?

• NW Natural in Portland, Oregon was the first gas company in the Pacific Northwest region of the United States when it started in 1859?

• The Assistant Secretary of Energy for Fossil Energy is responsible for America's Strategic Petroleum Reserve?

• Despite declines in production in recent years, Victoria still produces almost 20% of Australia's crude oil?

• 4.26 million tonnes of the sun are converted to energy every second by nuclear fusion?

• The first gasworks in the United Kingdom was built by the Gas Light and Coke Company, incorporated by Royal Charter in 1812?

• The Baku-Tbilisi-Ceyhan pipeline was a central plot point in the James Bond film The World Is Not Enough?

Between 1992 and 1995, after Soviet president Mikhail Gorbachev's 'perestroika' economic reforms permitted the opening of small private businesses, Abramovich founded five companies that eventually evolved to specialize in the trading of oil and oil products. With the approved by Boris Yeltsin, in 1995 Roman Abramovich and partner Boris Berezovsky paid $100m for a controlling interest in the major Russian Sibneft oil company, then valued at $150 million. Berezovsky subsequently sold his stake to Abramovich after fleeing to London. In September 2005 Abramovich sold his interest in Sibneft to state energy giant Gazprom for $13 billion.

Despite maintaining that his primary residence is Moscow, in 2006 Abramovich was named as the second-wealthiest person in the United Kingdom. His property investments and other assets were estimated at £10.8 billion. In June 2003, Abramovich became the owner of the companies that control Chelsea Football Club (soccer club). He also became the world's greatest spender on luxury yachts, with four boats in what the media have called the 'Abramovich Navy'.

Although he rarely visits the area, in October 2005 Abramovich was reappointed governor of the impoverished Chukotka Autonomous Okrug in the Russian Far East where he has made significant financial contributions. He was originally elected to the governorship in 1999.