Read more: Natural Resources of Vekllei
| Commonwealth Oil | |
|---|---|
| State Corporation of Vekllei | |
| Employees | 22,300 |
| Founded | 2017 |
| Headquarters | Kairi |
| Industry | Oil and gas |
| Ministry | Ministry of Industry |
| Parent | Bureau of Hydrocarbons |
| Revenue | AK โพ 2 trillion |
| Traded | COC |
| S.c.L. | |
Commonwealth Oil (also known as CommOil) is a multinational hydrocarbon energy company owned by the government of Vekllei, with primary business in petroleum exploration, extraction, and refining. It is estimated to be the 40th largest company in the world by revenue, owing to the vast oil and gas fields in Vekllei’s exclusive economic sea zones. Although its headquarters were relocated to Kairi in 2044 to be closer to the West Indies oil fields, the corporation was founded in Oslola and still occupies its original headquarters there are the base of Arctic oil extraction.
CommOil is vertically integrated, and has close ties to the Oil Survey Section and Energy Chemistry divisions of the LSRE. It operates major fields across Kalina Region, offshore from Kala, and in the Hetland and Aismious fields. It maintains several large refineries, including Sullom Voe in Hetland and the super-refineries in Aruba and Curacao. It also has thousands of wells scattered across minor deposits found across the vast Vekllei exclusive economic zone. It has major oil terminals in Kairi and Oslola, and exports petroleum around the world. The company specialises in offshore and underseas oil extraction, and due to the geography of the country operates only a handful of overland pipelines, which are located mostly in Kala. Undersea pipelines connect Vekllei to the US and South American petroleum grids.
Oil is primarily used as a feedstock for industries in Vekllei, and has no material role in power generation. It is consumed in small amounts in legacy vehicles, but serves a primary role in specialised applications in chemical and petrochemical industries. Gas is used for heating in some regional cities in the Volcanic Region but is primarily used as a firming energy source and industrial feedstock.