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Upstream and downstream
oil and gas operations.

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Upstream and downstream
are business terms

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that refer to a company's
location in the supply chain.

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The closer to an end user
a function or firm is,

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the further downstream it is.

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The oil and gas
supply chain often

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uses upstream and
downstream references.

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Upstream companies discover
oil and natural gas deposits

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and drill wells to extract them.

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Rig operations, feasibility
studies, machinery rental,

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and extraction
chemical suppliers

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are also part of
the upstream sector.

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Many of the largest
upstream operations

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are the major diversified
oil and gas firms.

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ExxonMobil is an example.

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Downstream operations include
refineries and marketing.

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They turn crude oil into usable
products, such as gasoline.

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Marketing services move
the finished products

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to retailers or end users.

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Marathon Petroleum and
Phillips 66 are examples.

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Midstream operations link
the upstream and downstream

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entities.

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They're mostly transportation
and storage services

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for resources, such as
pipelines and gathering systems.

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Examples include Kinder
Morgan and Williams Companies.

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