The energy and oil & gas industries are central to powering modern life and the global economy. They involve the exploration, extraction, refinement, distribution, and utilization of energy resources, primarily fossil fuels such as oil, natural gas, and coal. These resources are vital for transportation, electricity generation, industrial processes, and heating, among many other uses.
Oil and natural gas are key components of this sector, derived from geological deposits formed over millions of years. The industry is divided into three main segments:
- Upstream: Activities such as exploration and production of oil and gas.
- Midstream: Transportation and storage of these resources.
- Downstream: Refinement, processing, and distribution to consumers as fuels, chemicals, and other products.
This industry is constantly evolving due to technological advancements and the global push for cleaner, more sustainable energy sources. The rise of renewable energy, increasing regulations, and environmental considerations are reshaping the way traditional energy companies operate.