Basics of Oil and Gas Industry

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Introduction

      —  Biggest sector in world in dollar values

—  Oil and Gas  Sector has three Sectors     

◦       UpStream

◦       MidStream

◦       Down Stream



What is Upstream

—  Upstream is E&P (exploration and Production). 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.


What is Mid Stream

—  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. 



What is Down Stream

—  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.

Products

—  The largest volumes of products of the oil and gas industry are fuel oil and gasoline (petrol). Petroleum is the primary material for a multitude of chemical products, including pharmaceuticals, fertilizers, solvents and plastics. Petroleum is therefore integral to many industries and is of critical importance to many nations as the foundation of their industries.

 



Location: India

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