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The oil and gas industry is usually divided into three major sectors: upstream, midstream, and downstream. The downstream sector is the refining of petroleum crude oil and the processing and purifying of raw natural gas , [ 1 ] as well as the marketing and distribution of products derived from crude oil and natural gas .
Upstream regards exploration and extraction of crude oil, midstream encompasses transportation and storage of crude, and downstream concerns refining crude oil into various end products. Petroleum is vital to many industries, and is necessary for the maintenance of industrial civilization in its current configuration, making it a critical ...
It is part of a larger petrochemical complex also consisting of an ethylene plant, a polyethylene plant, plant utilities, and Ra's Lanuf Harbor. [1] Until 9 March 2009, the complex was operated by the RASCO, a subsidiary of the National Oil Corporation. The current operator is the Libyan Emirates Oil Refining Company. [2]
Get breaking Business News and the latest corporate happenings from AOL. From analysts' forecasts to crude oil updates to everything impacting the stock market, it can all be found here.
Rabigh Refining & Petrochemical Company (Petro Rabigh) is a Saudi Arabia–based company which produces and markets refined hydrocarbon and petrochemicals.It was founded in 2005 as a joint venture between Saudi Aramco and Japan’s Sumitomo Chemical, and is now publicly held and traded on the Saudi Stock Exchange (TADAWUL:2380).
Australia is a major petroleum producer and importer, with a number of petroleum companies involved in upstream and downstream operations. Western Australia is the largest contributor to Australia's production of most petroleum products.
The Dow's losses amount to roughly 3%, or more than 1,500 points, in the past nine trading sessions. The index has fallen from a record close of 45,014 on Dec. 4 to 43,499 as of Tuesday's close.
A closed rock salt mine belonging to Brazilian petrochemical giant Braskem partially collapsed Sunday in the northeastern coastal city of Maceio, the city's civil defense authority said. It quoted ...