petroleum refinery 2020

Oil, Gas Exploration and Production

Oil and gas operations can be classified into upstream, midstream and downstream activities. The upstream action involves oil and gas exploration and production, the midstream action focuses on oil and gas transportation and storage, and the downstream action deals with oil and gas purification and retailing. These different trade actions naturally require specially designed and deliberate resources to manage, and there are many staid-line upstream, midstream and downstream oil and gas operators. However, unified oil and gas industries with both upstream and downstream operations are still a major force within the oil and gas industry.

The Oil & Gas Exploration & Production industry comprises companies that are committed in the exploration and extraction of crude oil and natural gas. The industry also consists of the recovery of butane, ethane and natural liquefied petroleum gases (LPG) recovered from oil and gas fields. The Oil & Gas Exploration and Production industry eliminate exploration services on settlement basis, classified in Oil Related Services & Equipment, and exploration and production with substantial refining operations, classified in Integrated Oil & Gas.