Petroleum industry

petroleum industry

Activities linked to handling oil products

The petroleum industry, also known as the oil industry, includes the global processes of exploration, extraction, refining, transportation, 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.

Also known as...oil industry, crude petroleum and natural gas production, oil and gas industry, petroleum sector, oilpatch, petroleum production, oil patch, petroleum company, oil business, hydrocarbon industry, drilling industry, oil marketing companies, oil marketing company, oil and gas companies, extractive oil industry, oil and gas company, petroleum in the world, and petroleum industry sectors
Trump Orders DOJ Gas Price Probe

Trump Orders DOJ Gas Price Probe Trump ordered the Justice Department to investigate oil companies for not lowering gas prices fast enough as crude oil prices slid.