The oil and gas industry is usually divided into three major sectors: upstream (or exploration and production- E&P), midstream and downstream.The upstream sector includes searching for potential underground or underwater crude oil and natural gas fields, drilling exploratory wells, and subsequently drilling and operating the wells that recover and bring the crude oil or raw natural gas to the surface.
Upstream Industry has traditionally experienced the highest number of Mergers, Acquisitions and Divestitures. M&A activity for upstream oil and gas deals in 2012 totaled $254 billion in 679 deals.A large chunk of this M&A, 33% in 2012, was driven by the unconventional/shale boom especially in the US followed by the Russian Federation and Canada.
The aggregate value of Upstream E&P assets available for sale (Deals in Play) reached a record-high of $135 billion in Q3-2013.The value of Deals in Play doubled from $46 billion in 2009 to $90 billion in 2010. With ongoing M&A activity the level remained almost the same reaching $85 billion in Dec-2012. However, the first half of 2013 saw approximately $48 billion of net new assets coming on the market. Remarkably, the total value of Deals in Play in Q3-2013 nearly tripled over 2009 at $46 billion, in less than four years.
This categorization comes from value chain concepts, even before formal development Value Chain Management.
A company that owns and operates drilling rigs that are contracted by an operator to drill wells. Examples include Patterson UTI, Transocean, Nabors, and Cactus.
A company that has upstream as well as downstream operations. Examples include Saudi Aramco, ExxonMobil, BP, Royal Dutch Shell, ChevronTexaco, and SOCAR.
A company that has either upstream or downstream operations, but not both. Examples include Anadarko Petroleum, Sunoco, Phillips 66, ConocoPhillips, and Murphy Oil.
A company that provides products and/or services to the oil and gas industry. Usually a combination of labor, equipment, and/or other support services. Examples include Schlumberger, Halliburton, Saipem and Baker Hughes.
A company that specializes in the sale and distribution of equipment to the oil and gas industry. Examples include Siemens, Schneider Electric and ABB Group.
Many major security companies take part in securing the industry.
Any other oil and gas related business not defined above such as software companies providing necessary IT services for easy execution in the oilfield.
ISO 14224 defines "Upstream" in its definition section as:
business category of the petroleum industry involving exploration and production.
ConocoPhillips is an American multinational corporation engaged in hydrocarbon exploration. It is based in the Energy Corridor district of Houston, Texas.
The petroleum industry, also known as the oil industry or the oil patch, includes the global processes of exploration, extraction, refining, transporting, and marketing of petroleum products. The largest volume products of the industry are fuel oil and gasoline (petrol). Petroleum is also the raw material for many chemical products, including pharmaceuticals, solvents, fertilizers, pesticides, synthetic fragrances, and plastics. The extreme monetary value of oil and its products has led to it being known as "black gold". The industry is usually divided into three major components: upstream, midstream, and downstream. Upstream regards exploration and extraction of crude oil, midstream encompasses transportation and storage of crude, and downstream concerns refining crude oil into various end products.
Repsol S.A. is a Spanish energy and petrochemical company based in Madrid. It is engaged in worldwide upstream and downstream activities. In the 2020 Forbes Global 2000, Repsol was ranked as the 645th-largest public company in the world. It has more than 24,000 employees worldwide. It is vertically integrated and operates in all areas of the oil and gas industry, including exploration and production, refining, distribution and marketing, petrochemicals, power generation and trading.
The oil and gas industry is usually divided into three major sectors: upstream, midstream, and downstream. The downstream sector is the refining of petroleum crude oil and the processing and purifying of raw natural gas, as well as the marketing and distribution of products derived from crude oil and natural gas. The downstream sector reaches consumers through products such as gasoline or petrol, kerosene, jet fuel, diesel oil, heating oil, fuel oils, lubricants, waxes, asphalt, natural gas, and liquefied petroleum gas (LPG) as well as hundreds of petrochemicals.
Hess Corporation is an American global independent energy company involved in the exploration and production of crude oil and natural gas. It was formed by the merger of Hess Oil and Chemical and Amerada Petroleum in 1968. Leon Hess served as CEO from the early 1960s through 1995, after which his son John B Hess succeeded him as chairman and CEO.
The China National Petroleum Corporation (CNPC) is a major national oil and gas corporation of China and one of the largest integrated energy groups in the world. Its headquarters are in Dongcheng District, Beijing. CNPC was ranked fourth in 2020 Fortune Global 500, a global ranking of the largest corporations by revenue.
Petroleum production in Canada is a major industry which is important to the economy of North America. Canada has the third largest oil reserves in the world and is the world's fourth largest oil producer and fourth largest oil exporter. In 2017 it produced an average of 667,747 cubic metres per day (4.2 Mbbl/d) of crude oil and equivalent. Of that amount, 64% was upgraded and non-upgraded bitumen from oil sands, and the remainder light crude oil, heavy crude oil and natural-gas condensate. Most of Canadian petroleum production is exported, approximately 3.8 million barrels per day in 2019, with 98% of the exports going to the United States. Canada is by far the largest single source of oil imports to the United States, providing 43% of US crude oil imports in 2015.
The oil and gas industry is usually divided into three major components: upstream, midstream and downstream. The midstream sector involves the transportation, storage, and wholesale marketing of crude or refined petroleum products. Pipelines and other transport systems can be used to move crude oil from production sites to refineries and deliver the various refined products to downstream distributors. Natural gas pipeline networks aggregate gas from natural gas purification plants and deliver it to downstream customers, such as local utilities.
The Abu Dhabi National Oil Company or ADNOC is the state-owned oil company of the United Arab Emirates (UAE). It is the world's 12th largest oil company by production, producing 3.1 million barrels per day, with plans to increase production capacity to 4 million bpd by the end of 2020. It is the UAE's largest oil company.
Oil and Natural Gas Corporation (ONGC) is an Indian government-owned crude oil and natural gas corporation. Its registered office is in New Delhi. It is under the ownership of Ministry of Petroleum and Natural Gas, Government of India. It is the largest oil and gas exploration and production company in the country, and produces around 70% of India's crude oil and around 84% of its natural gas. In November 2010, the Government of India conferred the Maharatna status to ONGC.
"Offshore", when used in relation to hydrocarbons, refers to operations undertaken at, or under the, sea in association with an oil, natural gas or condensate field that is under the seabed, or to activities carried out in relation to such a field. Offshore is part of the upstream sector of the oil and gas industry.
Petroleum in the United States has been a major industry since shortly after the oil discovery in the Oil Creek area of Titusville, Pennsylvania in 1859. The industry includes exploration, production, processing (refining), transportation, and marketing of natural gas and petroleum products. As of 2019, the United States is the world's largest oil producer. The leading oil-producing area in the United States in 2019 was Texas, followed by the offshore federal zone of the Gulf of Mexico, North Dakota and New Mexico.
Oando Plc is a Nigerian multinational energy company operating in the upstream, midstream and downstream.
Royal Dutch Shell plc, commonly known as Shell, is an Anglo-Dutch multinational oil and gas company headquartered in The Hague, Netherlands, and incorporated in the United Kingdom as a public limited company. It is one of the oil and gas "supermajors" and, measured by 2020 revenues, the fifth-largest company in the world, the largest based in Europe, and the largest not based in either China or the United States. In the 2020 Forbes Global 2000, Shell was ranked as the 21st-largest public company in the world. Shell was first in the 2013 Fortune Global 500 list of the world's largest companies; in that year its revenues were equivalent to 84% of the Dutch national $556 billion GDP. Since then, Shell has dropped to the 5th largest company on the Global 500, but is still the largest non state-owned energy corporation in the world and the second-largest non-Chinese corporation in the world, falling short only to Walmart.
China National Offshore Oil Corporation, or CNOOC Group, is one of the largest national oil companies in China. It is the third-largest national oil company in the People's Republic of China, after CNPC and China Petrochemical Corporation. The CNOOC Group focuses on the exploitation, exploration and development of crude oil and natural gas in offshore China, along with its subsidiary COOEC.
PFC Energy is a global energy research and consultancy group.
Bangladesh is the nineteenth-largest producer of natural gas in Asia. Gas supplies meet 56% of domestic energy demand. However, the country faces an acute energy crisis in meeting the demands of its vast and growing population. Bangladesh is a net importer of crude oil and petroleum products. The energy sector is dominated by state-owned companies, including Petrobangla and the Bangladesh Petroleum Corporation. Chevron, ConocoPhillips, Equinor, Gazprom and ONGC are major international companies engaged in Bangladesh's hydrocarbon industry, with Chevron's gas fields accounting for 50% of natural gas production.
Natural gas was the United States' largest source of energy production in 2016, representing 33 percent of all energy produced in the country. Natural gas has been the largest source of electrical generation in the United States since July 2015.
The petroleum industry in Syria forms a major part of the economy of Syria. According to the International Monetary Fund, before the Syrian Civil War, oil sales for 2010 were projected to generate $3.2 billion for the Syrian government and accounted for 25.1% of the state's revenue.
According to the United States Energy Information Administration (EIA), Pakistan may have over 9 billion barrels (1.4×109 cubic metres) of petroleum oil and 105 trillion cubic feet (3.0 trillion cubic metres) in natural gas (including shale gas) reserves.