Types of Petroleum Industries

The petroleum industry is divided into three distinct sectors: upstream, midstream, and downstream.

• Upstream: Production and exploration of gas and oil are the main concerns of upstream businesses and firms. These companies spend time searching for locations around the world that contain raw resources that can be mined and extracted.
• Midstream: Midstream businesses concentrate on transporting raw materials to locations where they can be processed. To complete their journey, many of these businesses rely on shipping, pipelines, and trucks.
• Downstream: An example of a downstream industry is a refinery, which treats and removes impurities from raw materials. They transform gas and oil into goods that are used by the general public.

The transformation and refinement of crude oil into useful products including gasoline, diesel fuel, heating oil, kerosene, and liquefied petroleum gas takes place at an oil refinery, also known as a petroleum refinery.