JAMB - Economics (2008 - No. 32)
The activities in the oil and gas industry are classified into
exploration and transportation
upstream and downstream
discovery and extraction
onshore and offshore
Paaiškinimas
The term upstream and downstream is used in the oil and gas industry to refer to the various activities of an oil or gas company.
Upstream activities involves companies who extract or produce raw materials used in the production of oil and gas
while Downstream industry are those who are involved in the distribution, sale and delivering of the refined products to the final customers.