After crude oil is discovered and extracted—the upstream process—it’s shipped and transported—the midstream process. Thereafter, the oil
is refined, marketed, distributed, and sold
, which is the downstream process.
What is downstream refining?
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.
Is Chevron upstream or downstream?
Chevron Corporation generates its revenues from two sources: its
upstream business
— which includes Crude Oil & Natural Gas Liquid, and the Natural Gas segments — and from its downstream operations. The crude Oil & NGL segment accounts for over 60% of the company’s value, according to our estimates.
What are upstream and downstream?
The terms upstream and downstream oil and gas production refer to
an oil or gas company’s location in the supply chain
. … Upstream oil and gas production is conducted by companies who identify, extract, or produce raw materials. Downstream oil and gas production companies are closer to the end user or consumer.
Is refining part of midstream or downstream?
Oil refining is a
purely downstream function
, although many of the companies doing it have midstream and even upstream production.
What are downstream activities?
Downstream operations are the
processes involved in converting oil and gas into the finished product
. These include refining crude oil into gasoline, natural gas liquids, diesel, and a variety of other energy sources.
What is downstream of a river?
The word downstream (which is one word instead of being two words;
down stream
) mainly means the direction that the water in a river flows. Downhill, towards the sea, or nearer to the mouth of the stream (where the river ends). It can also be known as downriver.
What do you mean by downstream?
1 :
in the direction of or nearer to the mouth of a stream floating downstream located two miles
downstream. 2 : in or toward the latter stages of a usually industrial process or the stages (such as marketing) after manufacture improving profits downstream downstream products.
How do downstream companies make money?
Whereas oil companies earn a profit on the difference (or margin) between what it costs them to produce a barrel of oil, and the price at which they sell, most downstream companies make money
on the spread between what they pay to buy raw materials such as crude oil, and the price at which they sell higher-valued
…
What are downstream costs?
The costs that occur before production are called upstream cost and
costs that occur after production
are called downstream cost (such as advertising and transportation). While these upstream and downstream costs are not part of the product cost, they are important for cost-plus pricing decisions.
Is Chevron a downstream company?
Chevron Corporation is an American multinational energy corporation. It is the second largest oil company in America. … Chevron’s
downstream operations manufacture
and sell products such as fuels, lubricants, additives, and petrochemicals.
Is Chevron owned by Exxon?
The “Seven Sisters”: Exxon (now
ExxonMobil
), Mobil (now ExxonMobil), Chevron, Gulf Oil (now Chevron), Texaco (now Chevron), BP and Shell.
What is Chevron symbol?
Chevron (insignia), a heraldic symbol.
Guillemet
, a type of quotation mark that looks like a pair of small chevrons. Angle brackets, another pair of punctuation marks sometimes called chevrons. Trill (music), a wavy line indicating a trill.
Which way is upstream and downstream?
Downstream means towards where the flow ends, at the opposite end of the waterway from the source
. If you are boating from Kingston to Toronto, for example, you are heading upstream. If you are going from Kingston to Cornwall, you are travelling downstream.
What is a downstream supplier?
The downstream portion consists
of the organizations and processes for distributing and delivering products to the final customers
. The manufacturer also has internal supply chain processes for transforming the materials and services furnished by suppliers into finished goods and for managing materials and inventory.
Is drilling upstream or downstream?
Also called exploration and production (E&P),
upstream
is farthest from the end-user consumer in the oil & gas supply chain. Upstream activities include exploration, drilling, and extraction. Upstream is followed by midstream (transportation of crude oil) and downstream (refining and distribution) phases.
