Key Facts About the Oil and Gas Industry

Human survival always depends on natural-resources from food to clothing, which includes several other factors in between, such as transportation. Regardless of flora and fauna, the crust of the earth is also used for daily needs.

The use of natural oils can be traced back to five thousand years ago when it helped in transportation, medicine, and lighting purposes in the Middle East. It continues to be used in a variety of sectors. There is the Tennessee oil production and gas industry that is looking for investors to invest in oil and gas.

Oil drilled from the ground to paint the boat to make them waterproof. Oil demand is very high and cannot be satisfied with a limited whale oil used in the day-to-day, and therefore need to have more oil industry.

Image Source: Google

Refiners produce heavy revenue from the oil business. Prices go high because supplies are limited, and thus the alternative must be sought. U.S.A is the largest consumer of oil while the Arab League is the number one producer.

If we go by the statistics released, nearly 30 billion barrels of oil consumed in the world every year, of which 25 percent is consumed by the United States alone.

The oil industry is divided into three processes:

· Upstream

· Downstream

· Midstream

Upstream processing is done for the restoration, the search for and production of natural gas and crude oil. This sector is called the E & P or exploration and production sector.

Downstream processing generally refers to the process of refining crude oil and gas, and the selling and distribution of products derived from crude oil.