Individual survival has always been dependent on natural resources- from food to clothes, covering many different facets in between, such as transport.
Aside from the flora and fauna, the earth's crust can also be used for daily demands. Usage of pure petroleum could be traced back to five million decades back as it assisted in transport, medicine, and a variety of businesses. Find out more info about oil investment.
Oil was drilled from the ground to paint boats to make them waterproof. The demand for oil was very high and could not be met with the limited whale oil used in those days, and hence the need gave birth to the oil industry.
The oil industry is divided into three processes:
Upstream processing is done for the recovery, search, and production of natural gas and crude oil. This sector is called E&P or exploration and production sector. It includes the following steps:
· Searching for potential underground oil or gas fields
· Drilling of wells
· Operating the wells
· Bringing crude oil to the surface
Downstream processing generally refers to the process of refining crude oil and gas and selling as well as the distribution of the products derived from crude oil. Some of these products are LPG (liquefied petroleum gas), jet fuel, petrol, gasoline, diesel oil, petroleum coke, and asphalt.
Hence, the downstream sector is comprised of petrochemical plants, oil refineries, and petroleum product distribution. Midstream however is a part of the downstream process.