Please answer this.. Share with your friends Share 0 Chirag Gupta answered this Dear StudentStatement 1 and 2 both are correct but statement 2 is not correct explaination of statement 1.Petroleum is used in the manufacture of various products such as plastics, gasoline, pharmaceuticals, synthetic fabrics, etc. That's why it is called black gold.The name "black gold" indicates that it is very vital to humans. Because of its worth, people refer to it gold.Regards 0 View Full Answer Kundan answered this 2 is correct 0 Alone ☠️☠️ answered this Are K.oi hai ki sb so Gaye 0