when did the modern oil industry come into being
History of the petroleum industry The modern history of petroleum began in the 19th century with the refining of paraffin from crude oil. The Scottish chemist James Young in 1847 noticed a natural petroleum seepage in the Riddings colliery at Alfreton, Derbyshire from which he distilled a light thin oil suitable for use as lamp oil, at the same time obtaining a thicker oil suitable for lubricating machinery. In 1846, Baku (settlement Bibi-Heybat) the first ever well drilled with percussion tools to a depth of 21 meters for oil exploration. In 1848, Young set up a small business refining the crude oil. The new oils were successful, but the supply of oil from the coal mine soon began to fail (eventually being exhausted in 1851). Young, noticing that the oil was dripping from the sandstone roof of the coal mine, theorized that it somehow originated from the action of heat on the coal seam and from this thought that it might be produced artificially.