OIL AND GAS
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WHAT IS THE OIL AND GAS INDUSTRY?
Oil and natural gas are major industries in the energy market and play an influential role in the global economy as the world's primary fuel sources. The processes and systems involved in producing and distributing oil and gas are highly complex, capital-intensive, and require state-of-the-art technology.
Upstream is E&P (exploration and exploration). This involves the search for underwater and underground natural gas fields or crude oil fields and the drilling of exploration wells and drilling into established wells to recover oil and gas.
Upstream refers to points in production that originate early on in the processes. Also called exploration and production (E&P), upstream is farthest from the end-user consumer in the oil & gas supply chain. Upstream activities include exploration, drilling, and extraction.
Midstream entails the transportation, storage, and processing of oil and gas.
Once resources are recovered, it has to be transported to a refinery, which is often in a completely different geographic region compared to the oil and gas reserves. Transportation can include anything from tanker ships to pipelines and trucking fleets.
Downstream refers to the filtering of the raw materials obtained during the upstream phase. This means refining crude oil and purifying natural gas.
The marketing and commercial distribution of these products to consumers and end users in a number of forms including natural gas, diesel oil, petrol, gasoline, lubricants, kerosene, jet fuel, asphalt, heating oil, LPG (liquefied petroleum gas) as well as a number of other types of petrochemicals.