How Does Heavy Oil Form? The formation of heavy oil and bitumen, like other forms of petroleum, originated with plant life millions of years ago. When the plants and small organisms (plankton ...

that closely resembles petroleum-derived asphalt. The process currently achieves a conversion efficiency of 55%. Even though the chemical composition of bioasphalt is completely different from its ...

Now, however, skyrocketing oil prices have made asphalt—and all petroleum byproducts—almost obscenely expensive. And the inflation of all products and goods reliant on transportation is ...

The province has announced it will collect bitumen royalties in the form of the heavy oil itself, as opposed to cash.

The widespread use of petroleum-based asphalt binders in the construction industry is accompanied by high material costs due to the volatility of the petroleum market and negative environmental ...