The oil and gas industry is the industry which deals in business of exploring, extracting, refining, and selling petroleum and natural gas products. On one hand we have Petroleum products which include fuel for transportation (gasoline and diesel fuel), heating and electricity generation, and raw materials for the petrochemical industry. On the other hand, we have Natural gas which is often used for electricity generation and as a raw material in the chemical industry.
People looking to switch to this industry are very likely to get baffled by the technical terms. Therefore we will understand the fundamentals first.
There are three major sectors of the Oil & Gas Industry – Upstream, Midstream, and Downstream.
Companies in the Oil sector that operate in the upstream sector are also called E&P companies as they explore the world for oil reserves and produce oil & gas. Upstream activities include exploration and production of oil and gas.
Once a resource is discovered, it is stored and transported to a refinery by midstream companies.
Refineries, which belong to the downstream segment, turn it into a finished product and sell it to the final consumer. Activities in Downstream sector include refining, marketing, and distribution of petroleum products.
India’s economic growth is largely dependent on its energy demand. In 2022, Oil & Gas industry’s growth went up to $5 trillion and India retained its position as 3rd world-largest consumer of Oil in the world.
Our MBA in Oil & Gas Management is well-recognized by the industry because of the industry-aligned curriculum taught by real-world professionals. Join us now for the Winter intake to a stupendous journey to becoming irreplaceable talent in the industry.
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