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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 ...
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.
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 ...
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Drilling down into the upstream sector. For premium support please call: 800-290-4726 more ways to reach us
The upstream side of the industry tends to be the most sensitive to changes in oil and gas prices. With oil prices near the lowest level in a year, even top E&Ps like ConocoPhillips (NYSE: COP ...
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.
However, unlike the upstream (oil and gas production) sector and the downstream (chemicals and refining) sector, midstream assets aren't usually affected by commodity prices. Customers generally ...