博士英语 口语 210.docxVIP

Oil and Gas Industry StructureThe oil and gas industry can be classified into three major segments: upstream, midstream, and downstream.? Upstream companies are involved in the exploration, development, and production of crude or natural gas, also called exploration and production, or EP.? Midstream operations create linkage between producing areas, which are typically remote, and the consumer base. Midstream activities include the processing, storage, marketing, and bulk transportation of petroleum commodities.? Downstream industry participants include oil refineries, petrochemical plants, natural gas distribution companies, distributors of petroleum products, and retail outlets.These companies provide thousands of petroleum products to consumers such as gasoline, diesel, natural gas, heating oil, asphalt, lubricants, plastics, fertilizers, antifreeze, pesticides, and propane.The upstream segment is most involved in the development of shale gas while mid-and downstream activities and processes for shale gas are the same as those for conventional natural gas. Companies that participate in the upstream segment of the industry seek and acquire rights to potential oil and gas fields and conduct activities related to the recovery and production of hydrocarbons. These companies can be further segmented into two categories: gas EP companies and oilfield services (OFS) companies.EP companies search for potential oil and gas fields and drill and operate wells that recover oil and gas from underground formations. Company revenues are substantially derived from sales of petroleum produced at the wellhead. In the United States, two types of EP companies produce and sell gas to pipelines and other midstream participants: international and independent oil companies.International oil companies (IOCs) are non-state owned, publicly traded largecap energy companies such as BP, ExxonMobil, and Royal Dutch Shell. These companies are frequently forward integrated into mid-and downstrea