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An oil well is a drillhole boring in Earth that is designed to bring petroleum oil hydrocarbons to the surface. Usually some natural gas is released as associated petroleum gas along with the oil. A well that is designed to produce only gas may be termed a gas well. Wells are created by drilling down into an oil or gas reserve that is then mounted with an extraction device such as a pumpjack which allows extraction from the reserve. Creating the wells can be an expensive process, costing at least hundreds of thousands of dollars, and costing much more when in hard to reach areas, e.g., when creating offshore oil platforms. The process of modern drilling for wells first started in the 19th century, but was made more efficient with advances to oil drilling rigs during the 20th century.
ConocoPhillips Company is an American multinational corporation engaged in hydrocarbon exploration and production. 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, transportation, 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 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 multinational energy and petrochemical company based in Madrid. It is engaged in worldwide upstream and downstream activities. In the 2022 Forbes Global 2000, Repsol was ranked as the 320th-largest public company in the world. As of 2022, it has 24,000 employees worldwide.
Marathon Petroleum Corporation is an American petroleum refining, marketing, and transportation company headquartered in Findlay, Ohio. The company was a wholly owned subsidiary of Marathon Oil until a corporate spin-off in 2011.
China Petroleum & Chemical Corporation, or Sinopec, is a Chinese oil and gas enterprise based in Beijing. It is listed in Hong Kong and also trades in Shanghai.
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 naphtha and hundreds of petrochemicals.
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 2022 Fortune Global 500, a global ranking of the largest corporations by revenue.
A petroleum reservoir or oil and gas reservoir is a subsurface accumulation of hydrocarbons contained in porous or fractured rock formations. Such reservoirs form when kerogen is created in surrounding rock by the presence of high heat and pressure in the Earth's crust.
Petroleum production in Canada is a major industry which is important to the overall 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 2019 it produced an average of 750,000 cubic metres per day (4.7 Mbbl/d) of crude oil and equivalent. Of that amount, 64% was upgraded from unconventional oil sands, and the remainder light crude oil, heavy crude oil and natural-gas condensate. Most of the Canadian petroleum production is exported, approximately 600,000 cubic metres per day (3.8 Mbbl/d) 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, known by its acronym ADNOC, is the state-owned oil company of the United Arab Emirates (UAE).
Gulf Publishing Company is an international publishing and events business dedicated to the hydrocarbon energy sector. In mid-2018 it rebranded as Gulf Energy Information. Founded in 1916 by Ray Lofton Dudley, Gulf Energy Information produces and distributes publications in print and web formats, online news, webcasts and databases; hosts conferences and events designed for the energy industry. The company was a subsidiary of Euromoney Institutional Investor from 2001 until a 2016 management buyout by CEO John Royall and Texas investors. The business and strategy publication Petroleum Economist also transferred to the company in May 2016. In mid-2017 the company acquired 109-year old Oildom Publishing.
"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 has been a major industry in the United States 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. In 2018, the U.S. became the world's largest crude oil producer, producing 15% of global crude oil, surpassing Russia and Saudi Arabia. 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. In 2020, the top five U.S. oil-producing states were Texas (43%), North Dakota (10.4%), New Mexico (9.2%), Oklahoma (4.1%), and Colorado (4.0%).
Oando Plc is a Nigerian multinational energy company operating in the upstream, midstream and downstream.
PFC Energy is a global energy research and consultancy group.
Bangladesh is the sixteenth-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.
ISO Technical Committee 67 – Oil and gas industries including lower carbon energy is a technical committee within the International Organization for Standardization (ISO). ISO/TC 67 is responsible for developing and maintaining international standards in the worldwide upstream, midstream and downstream oil and gas industry and related lower carbon energy activities. Its role encompasses the harmonisation of standards for facilities, equipment and operations used for drilling, production, pipeline transport and processing of liquids and gaseous hydrocarbons on, and between, offshore oil and gas installations and onshore terminals and oil refineries.
References
- ↑ Upstream, midstream & downstream Archived 2014-01-07 at the Wayback Machine
- ↑ Industry Overview Archived 2017-05-08 at the Wayback Machine from the website of the Petroleum Services Association of Canada (PSAC)
- ↑ Coalbed Methane Basic Information Archived 2012-12-05 at the Wayback Machine
- ↑ "Oil and Gas M&A; Values Reach Record $254 Billion in 2012". Archived from the original on 2013-11-05. Retrieved 2013-11-05.
- ↑ "$135 Billion Worth Oil and Gas Assets on the Market". Archived from the original on 2013-11-05. Retrieved 2013-11-05.
- 1 2 3 4 American Petroleum Institute Archived 2011-11-26 at the Wayback Machine Definition Of Upstream Company and description
- ↑ "Eyal Mesika - Security Issues in the Upstream Oil Industry - OilVoice". www.oilvoice.com. Archived from the original on 2017-04-20. Retrieved 2017-04-20.
- ↑ ISO 14224
