Oil & Gas
The world’s industrialized nations rely heavily on oil, which plays a significant role in global economics. Crude oil is one of the most important energy sources on the planet, petroleum is a derivative that drives cars, and planes heats homes makes asphalt, and generates electricity. In addition to providing energy, refined oil products are used in manufacturing of nearly all chemical products, including plastics, fertilizers, detergents, paints, and medicines, among many other products you might not expect.
The exploration of crude oil and natural gas is among the most capital-intensive industries, and oil explorers face many challenges such as rock hardness, extreme temperatures, and pressure while digging deep. The industry is divided into three segments, upstream, midstream, and downstream.
The upstream segment of the oil and gas industry is concerned with exploration, which includes doing geological surveys and acquiring land rights, and production, which involves drilling both onshore and offshore
Transport, storage, and trading of crude oil, natural gas, and refined products are all part of the midstream sector.
In spite of refining’s complexity, the ultimate goal is straightforward: to transform crude oil, which is nearly useless in its natural state, into petroleum products that can be used for many purposes, such as heating homes and fueling vehicles.
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