The Oil and Gas sector is understandably classed as being the biggest industry in the world in terms of dollar value.
Oil and Gas companies are usually significant contributors to National GDP worldwide and they provide employment to millions of people across the globe.
By far, the largest volumes of products of the oil and gas industry are fuel oil and gasoline (petrol).
The sector has three key areas – Upstream, Midstream and Downstream.
• The Upstream market is exploration and production which involves the search for underwater and underground natural gas and crude oil fields, and the drilling of exploration wells.
• The Midstream market covers the transportation, storage and processing of oil and gas. Transportation can involve anything for oil tankers to pipelines and even fleets of trucks.
• The Downstream market incorporates the filtering of the raw materials that were attained during the Upstream phase. In includes the refining of crude oil and the purification of natural gas.
