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[VIDEO] Oil & Gas 101: Explaining Upstream, Midstream, Downstream & Services

Contributor: Sumit Dutta
Posted: 10/07/2013
[VIDEO] Oil & Gas 101: Explaining Upstream, Midstream, Downstream & Services
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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:

  • 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.

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Sumit Dutta heads up Marketing at Oil & Gas IQ. Contact him at Twitter or Google Plus

Sumit Dutta
Contributor: Sumit Dutta