Upstream (petroleum industry) in the context of "Midstream"

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⭐ Core Definition: Upstream (petroleum industry)

The oil and gas industry is usually divided into three major sectors: upstream (also called exploration and production or E&P), midstream and downstream. 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.

The upstream industry has traditionally experienced the highest number of Mergers, Acquisitions (M&A) and Divestitures. M&A activity for upstream oil and gas deals in 2012 totaled $254 billion in 679 deals. A large chunk of this M&A, 33% in 2012, was driven by the unconventional/shale boom especially in the US followed by Russia and then Canada.

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👉 Upstream (petroleum industry) in the context of Midstream

The oil and gas industry is usually divided into three major components: upstream, midstream and downstream. The midstream sector involves the transportation (by pipeline, rail, barge, oil tanker or truck), storage, and wholesale marketing of crude or refined petroleum products. Pipelines and other transport systems can be used to move crude oil from production sites to refineries and deliver the various refined products to downstream distributors. Natural gas pipeline networks aggregate gas from natural gas purification plants and deliver it to downstream customers, such as local utilities.

Midstream in oil and gas also includes services that help oil and gas producers, such as managing and disposing of wastewater and other oilfield waste.

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Upstream (petroleum industry) in the context of Gas industry

The petroleum industry, also known as the oil industry, includes the global processes of exploration, extraction, refining, transportation (often by oil tankers and pipelines), and marketing of petroleum products. The largest volume products of the industry are fuel oil and gasoline (petrol). Petroleum is also the raw material for many chemical products, including pharmaceuticals, solvents, fertilizers, pesticides, synthetic fragrances, and plastics. The industry is usually divided into three major components: upstream, midstream, and downstream. Upstream regards exploration and extraction of crude oil, midstream encompasses transportation and storage of it, and downstream concerns refining crude oil into various end products.

Petroleum is vital to many industries, and is necessary for the maintenance of industrial civilization in its current configuration, making it a critical concern for many nations. Oil accounts for a large percentage of the world's energy consumption, ranging from a low of 32% for Europe and Asia, to a high of 53% for the Middle East.

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Upstream (petroleum industry) in the context of Downstream (petroleum industry)

The oil and gas industry is usually divided into three major sectors: upstream, midstream, and downstream. The downstream sector is the refining of petroleum crude oil and the processing and purifying of raw natural gas, as well as the marketing and distribution of products derived from crude oil and natural gas. The downstream sector reaches consumers through products such as gasoline or petrol, kerosene, jet fuel, diesel oil, heating oil, fuel oils, lubricants, waxes, asphalt, natural gas, and liquefied petroleum gas (LPG) as well as naphtha and hundreds of petrochemicals.

Midstream operations are often included in the downstream category and are considered to be a part of the downstream sector.

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Upstream (petroleum industry) in the context of Delek Group

Delek Group (Hebrew: קבוצת דלק) is an Israeli holding conglomerate mainly operating in the petroleum industry. Delek Group's largest subsidiary is Delek – The Israel Fuel Corporation, one of the largest chains of filling stations in Israel. Delek Group also owns E&P operations across the Levant, in the North Sea and in the Gulf of Mexico. Beyond the oil industry, it also owns coffeehouse chain Café Joe as well as 70% of the Israeli franchisee of Burger King.

Delek Group is listed on the Tel Aviv Stock Exchange under the ticker symbol, DLEKG, and is a member of the TA-35 Index of leading Israeli companies. Delek Group previously held major shares in automobile import company Delek Motors, nutraceuticals company Gadot Biochemistry, desalination company IDE Technologies and holding company Phoenix Holdings, all of which were later sold.

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Upstream (petroleum industry) in the context of Sour gas

Sour gas is natural gas or any other gas containing significant amounts of hydrogen sulfide (H2S).

Natural gas is usually considered sour if there are more than 5.7 milligrams of H2S per cubic meter of natural gas, which is equivalent to approximately 4 ppm by volume under standard temperature and pressure. However, this threshold varies by country, state, or even agency or application. For instance, the Texas Railroad Commission considers a sour gas pipeline one that carries gas over 100 ppm by volume of H2S. However, the Texas Commission on Environmental Quality has historically defined sour gas for upstream operations – which requires permitting, reporting, and possibly additional emission controls – as gas that contains more than 24 ppm by volume. Natural gas that does not contain significant amounts of hydrogen sulfide is called "sweet gas".

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Upstream (petroleum industry) in the context of European Petroleum Survey Group

The International Association of Oil & Gas Producers (IOGP) is the petroleum industry's global forum in which members identify and share best practices to achieve improvements in health, safety, the environment, security, social responsibility, engineering and operations.

The association was formed in London in 1974 to develop effective communications between the upstream industry and the network of international regulators. Originally called the E&P Forum (for oil and gas exploration and production), in 1999 the current name was adopted. Most of the world’s leading publicly traded, private and state-owned oil & gas companies, oil & gas associations and major upstream service companies are members. The IOGP claims its members produce 40% of the world’s oil and gas.

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