The petroleum industry – also known as the oil industry or the oil patch – includes the global processes of exploration, extraction, refining, transporting and marketing of petroleum products. The largest volume products of the industry are fuel oil and gasoline (petrol). The oil industry is divided into two major sectors.
Upstream: Exploration & Production involves operations in searching for underground or underwater oil and gas fields and drilling exploratory wells and at the same time, operating the wells that recover to re-direct the crude oil or raw natural gas to the surface.
Downstream: Includes operations that processes and stores, markets and transports crude oil, natural gas liquids like ethane, butane and propane. The downstream sector includes all oils refineries and petrochemical plants, petroleum product distribution via the affiliated retail outlets and natural gas distribution companies, within the operations. The downstream industry markets products such as petrol & diesel and jet fuel, asphalt, lubricants,