Oil & Gas Industry Insights

Overview of the Oil and Gas Industry

Introduction

The oil and gas industry plays a critical role in powering the global economy, driving industries, and heating homes. It involves the exploration, extraction, refining, and transportation of petroleum and natural gas.

Upstream operations in Oil and Gas

Upstream

Upstream is all about exploration and production. The sector involves the search for underwater and underground natural gas fields or crude oil fields, drilling of exploratory wells, and subsequently drilling and operating the wells that recover and bring the crude oil or raw natural gas to the surface.

Midstream sector in Oil and Gas

Midstream

Midstream refers to the transportation, storage, and wholesale marketing of crude or refined petroleum products. Pipelines and other transport systems can be used to move crude oil from production sites to refineries and deliver the various refined products to downstream distributors.

Downstream processes in Oil and Gas

Downstream

Downstream operations are oil and gas operations that take place after the production phase, through to the point of sale. This sector includes refineries, petrochemical plants, distribution, retail outlets and natural gas distribution companies.