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The oil and gas industry is usually divided into three major sectors: upstream (also called exploration and production or E&P), midstream and downstream. [1] [2] The upstream sector includes searching for potential underground or underwater crude oil and natural gas fields, drilling exploratory wells, and subsequently operating the wells that recover and bring the crude oil or raw natural gas ...
Drilling down into the upstream sector.
Upstream regards exploration and extraction of crude oil, midstream encompasses transportation and storage of crude, and downstream concerns refining crude oil into various end products. Petroleum is vital to many industries, and is necessary for the maintenance of industrial civilization in its current configuration, making it a critical ...
Pure-play oil and natural gas extractors fall into the upstream segment. Pipeline and storage operators, which generally charge fees based on volumes for the use of their infrastructure assets ...
The market is projected to grow at a moderate pace, driven by upstream and downstream contracts, investment in refinery up-gradation projects, and replacement of the legacy Oil and Gas Fittings. The demand outlook for Oil and Gas Fitting between 2014 and 2021 remains at 2.8% as the pandemic crisis has impacted the market.
Offshore is part of the upstream sector of the oil and gas industry. [1] Offshore activities include searching for potential underground crude oil and natural gas reservoirs and accumulations, the drilling of exploratory wells, and subsequently drilling and operating the wells that recover and bring the crude oil and/or natural gas to the surface.
For example, when oil prices are low and the upstream business is suffering, the downstream businesses will be benefiting from low input costs. The Smartest Oil Stocks to Buy With $200 Right Now
Crude oil leaving the well may contain quantities of sulfur (e.g. hydrogen sulfide and thiols) and/or carbon dioxide, and is known as "sour" crude. The gas–oil separator will typically partition the hydrogen sulfide and carbon dioxide preferentially into the vapor or gas phase, where it may be further treated. [3]
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