What is the oil industry?

petroleum industry is a collective term used to identify many different companies that are involved in activities directly related to the production of oil products. Companies involved in this industry administer tasks that include exploration of fresh reserves that can be used in the production of heating oils, gasoline and other basic oil -based products. Businesses that control the extraction of these sources as well as refining and even transport of oil products are also considered to be basic components in this industry.

different companies and functions involved in the oil industry are usually classified in one of the three different categories, confirming that some companies are engaged in a number of activities that move above these classes. One category is known as the Upstream feature that includes the survey process that eventually leads to the location of oil reserves. This particular category also includes refinement and development of oil or natural gas, which may then be handed over to anotherM companies to use a wide range of goods and services.

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Midstream features often focus on processes used to transport oil -based products and oil on manufacturers who use products to create different goods or services. In this category, one of the common examples are oil tankers used to move oil collected from one place to another. Another example is the oil pipes that carry oil to the attic. Essentially, any company involved in oil transport in any form would be considered a central company.

Downstream features in the oil industry usually focus on real delivery to end users. This would include direct delivery to retailers who would then offer oil -based products for sale to consumers. AVE the same time would also fall into this category by companies that provide consumers' servicesI know the refinement and use of oil products for air conditioning and similar purposes. It is important to note that in some countries, medium and downstream features are often so integrated into the company's structures that all these functions are classified as Downstream, which completely eliminates the designation of the middle current.

Peter industry has an impact on almost every aspect of modern life. In addition to providing fuels and lubricating compounds for private and public transport, industry also provides fuel for machinery used in energy production that helps to warm and cool public and private buildings. Furniture is often composed of oil by -products. Even some forms of clothing contain fibers made from the residues of the oil refine process. From this point of view, the oil industry affects the lives of consumers, although the buyers' anonepists or oil for use in private vehicles.