Nanofluids represent a novel energy transport fluid based on their improved properties compared to base fluids. Nanofluids are colloidal suspensions of stably dispersed nanoparticles in base fluids. The term was established at Argonne National Laboratory as a part of the Advanced Fluids Program investigating means to enhance thermal conductivity of base fluids (Das et al. 2008). Investigations determined that for heat transfer applications, the average size of particles should be less than 100 nm. With particles less than 100 nm in diameter, nanofluids exhibit enhanced thermal properties (Godson et al. 2010). There are papers showing that thermal conductivity of nanofluids depends on several