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  1. 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.

  2. 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.

  3. Petroleum's status as a key component of politics, society, and technology has its roots in the coal and kerosene industry of the late 19th century. One of the earliest instances of this is the refining of paraffin from crude oil.

  4. The oil and gas industry plays a central role in the economy of the United Kingdom. Oil and gas account for more than three-quarters of the UK's total primary energy needs. Oil provides 97 per cent of the fuel for transport, and gas is a key fuel for heating and electricity generation. Transport, heating and electricity each account for about ...

  5. Commonly characterized as "Big Oil", the industry includes exploration, production, refining, transportation, and marketing of oil and natural gas products. The leading crude oil-producing areas in the United States in 2023 were Texas, followed by the offshore federal zone of the Gulf of Mexico, North Dakota and New Mexico.

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  7. 16. Juli 2024 · The oil and gas industry is broken down into three segments: upstream, midstream, and downstream. Upstream, or exploration and production (E&P) companies, find reservoirs and drill oil and...