When you fill up your car with gasoline or when you fill up your cooking gas tank, you are the final link in a long chain of businesses that make it possible for us to enjoy these clean, convenient and economical forms of energy. The entire chain is known as the petroleum industry.

However, the industry is usually divided into three major components: upstream, midstream and downstream.


Upstream Industry

The upstream industry finds and produces crude oil and natural gas. The upstream is sometimes known as the exploration and production (E&P) sector. Because the south south accounts for more than 80 per cent of Nigeria's oil and gas production, many upstream businesses are based there.
Examples of these companies are Total, Agip, Shell, Seplat, etc.


The Midstream

The midstream industry processes, stores, markets and transports commodities such as crude oil, natural gas, natural gas liquids (NGLs, mainly ethane, propane and butane) and sulphur. The midstream provides the vital link between the far-flung petroleum producing areas and the population centres where most consumers are located.
Examples of these companies are Auburn Oil, Eland Oil, Integrated Oil and Gas, Sarah's Oil etc.


The Downstream

The downstream industry includes oil refineries, petrochemical plants, petroleum products distributors, retail outlets and natural gas distribution companies. The downstream industry touches every states and local government- wherever consumers are located-and provides thousands of products such as gasoline, diesel, jet fuel, heating oil, asphalt, lubricants, synthetic rubber, plastics, fertilizers, antifreeze, pesticides, pharmaceuticals, natural gas and propane.
Examples are Devon Petrogas, MRS Oil etc.

Note: Most Companies in Nigeria are into More than One Streams in the Nigerian Market.



Culled and Mildly Edited from:
https://www.psac.ca/business/industry-overview/

Cc: lalasticlala, UjSizzle, mkmyers45