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World oil reserves as of 2013. The petroleum industry, also known as the oil industry or the oil patch, includes the global processes of exploration, extraction, refining, transportation (often by oil tankers and pipelines ), and marketing of petroleum products. The largest volume products of the industry are fuel oil and gasoline (petrol).
Petroleum engineering is a field of engineering concerned with the activities related to the production of hydrocarbons, which can be either crude oil or natural gas. [1] Exploration and production are deemed to fall within the upstream sector of the oil and gas industry. Exploration, by earth scientists, and petroleum engineering are the oil ...
Total revenue of oil and gas companies is listed in billions of U.S. dollars. Total revenue is usually self-reported by the company, and often reported by neutral, unbiased, reliable publications. Reported data may be subsequently revised or restated due to a wide range of issues such as exchange rates, contract settlements, or mid-year ...
Midstream. The oil and gas industry is usually divided into three major components: upstream, midstream and downstream. The midstream sector involves the transportation (by pipeline, rail, barge, oil tanker or truck), storage, and wholesale marketing of crude or refined petroleum products. Pipelines and other transport systems can be used to ...
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 operating the wells that recover and bring the crude oil or raw natural gas to the surface.
History of the petroleum industry. One of the early generations of oil drilling infrastructure. Picture from the Athabasca River, Alberta, Canada in 1898. While the local use of oil goes back many centuries, the modern petroleum industry along with its outputs and modern applications are of a recent origin. Petroleum's status as a key component ...
Petroleum has been a major industry in the United States since the 1859 Pennsylvania oil rush around Titusville, Pennsylvania. Commonly characterized as "Big Oil", the industry includes exploration, production, refining, transportation, and marketing of oil and natural gas products. [1] The leading crude oil-producing areas in the United States ...
Chevron Corporation is an American multinational energy corporation predominantly specializing in oil and gas. The second-largest direct descendant of Standard Oil, and originally known as the Standard Oil Company of California (shortened to Socal or CalSo ), it is headquartered in San Ramon, California, and active in more than 180 countries.
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