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The oil industry plays a significant role in our everyday lives, powering our vehicles and providing asphalt for the roads we drive on as well as the raw material for almost all types of plastics. Currently, the global current demand for oil averages 98.51 million barrels per day (mbd), which represents approximately $6.8 billion (in US dollars) in daily economic activity worldwide.
Considering that a large petroleum refinery can process as much as 800,000 to 900,000 barrels per day, the cost of a single refinery fire can be devastating, potentially reaching more than $60 million in economic losses for every day production is interrupted.
Topics: Fire Protection