History of Oil and Gas Throughout the history of mankind, energy has been the key enabler of its development. In the past century and a half, hydrocarbons played a vital role. Upstream The upstream segment of the oil and gas business is known as the exploration and production (E&P) sector. It relates to all activities from the search for, recovery of, to production of hydrocarbons. Midstream The midstream segment encompasses facilities and processes that are between the upstream and downstream segments. These include processing, storage and transportation of crude oil and natural gas. Downstream Transporting and selling refined products made from crude oil is the business of the downstream segment of the oil and gas industry. Key downstream business sectors include: oil refining, product marketing and distribution. Business Processes and Risk Management A key aspect of today’s oil and gas business planning and decision-making is the varying amounts of risk inherent in the wide range of investment options. This topic addresses how to plan for (and evaluate) these various risks. Industry Trends in Oil and Gas Income and population are two of the most important variables that determine a country’s energy demand. As prosperity rises, incomes rise, and so does demand for energy. What is the future going to be?
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