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The oil and gas industry is usually divided into three major sectors: upstream, midstream, and downstream. The downstream sector is the refining of petroleum crude oil and the processing and purifying of raw natural gas, [1] as well as the marketing and distribution of products derived from crude oil and natural gas.
Vertical integration is the degree to which a firm owns its upstream suppliers and its downstream buyers. The differences depend on where the firm is placed in the order of the supply chain. There are three varieties of vertical integration: backward (upstream) vertical integration, forward (downstream) vertical integration, and balanced (both ...
The oil and gas industry is usually divided into three major components: upstream, midstream and downstream. The midstream sector involves the transportation (by pipeline , rail, barge, oil tanker or truck), storage, and wholesale marketing of crude or refined petroleum products.
Upstream. Downstream. The Upstream segment is involved in the following: Exploration, development, production, and transportation of crude oil and natural gas ... Marketing crude oil, refined ...
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 ...
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 ...
Upstream activities typically include the exploration and appraisal, development and construction, and production of oil and gas. The sector in Australia is dominated by international companies including Apache, BHP, Chevron, ConocoPhillips, ExxonMobil, Santos, Shell and Woodside.
The Upstream segment is involved in: Exploration, development, production, and transportation of crude oil and natural gas ... The Downstream segment engages in: Refining crude oil into petroleum ...