Sectors of the Oil and Gas Industry
The upstream sector deals with the exploration and production of crude oil and natural gas. Exploration and production companies locate potential oil and gas reservoirs, drill wells, and extract the oil and gas from the reservoirs.
The midstream sector deals with transportation, processing, and storage of crude oil and natural gas. It is the link between distant oil and gas production areas and the population centers where consumers are located.
The downstream sector deals with the refining of crude oil and natural gas into oil and gas derived products such as gasoline, diesel, jet fuel, heating oil, propane and petrochemicals.