Oil & Gas 101: explaining up-, mid-, and down-stream
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In this four minute video, Mark LaCour from modalpoint, presents a concise overview on how the oil and gas industry overview operates and explains the 4 main components of the industry:
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Upstream (also known as E&P or exploration and production)
The searching for, recovery and production of crude oil and natural gas - Midstream (Sometimes included in Downstream)
The collection and transportation of crude oil and natural gas & refined products - Downstream
The manufacturing, selling and distribution of natural gas products derived from crude oil - Services
Companies that provide services to the oil and gas companies, but do not produce petroleum or petroleum products themselves
Mark also explains Supermajors / Combined – those companies that operate upstream, midstream and downstream.
RELATED: Oil & Gas Industry: An Introduction
And using the Gulf of Mexico as an example, he illustrates the full process of oil recovery, transportation, manufacturing and selling of oil and gas in the US from the auctioning of the land through to the product being sold to the consumer and all the steps along the way.
RELATED: Oil and Gas Production - An Introduction
READ MORE: Oil Price: The Top 25 Events That Rocked The Cost Of Crude Oil
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Sumit Dutta heads up Marketing at Oil & Gas IQ. Contact him at Twitter or Google Plus
