Petroleum "black gold" is the most important nonrenewable source of energy. It is a complex mixture of different phases and components. Refining it provides a vast number of organic compounds, all of them of which are used to produce petroleum based products for numerous applications, from industry to medicine, from clothing to food industries. We can find petroleum based products all around us. This book deals with some important topics related to petroleum such as its chemical composition and stability. It is well-known that the chemical composition of crude oil differs according to the site of production, and its grade varies from waxy to asphaltenic crude. Both of them are refined to produce different products. The stability of crude oil on aging and transportation is governed by several factors and these factors are included within this book. Some new technologies for petroleum characterization are also introduced. This book is aimed at researchers, chemical engineers and people working within the petroleum industry.