Use precise geolocation data. Select personalised content. Create a personalised content profile. Measure ad performance. Select basic ads. Create a personalised ads profile. Select personalised ads. Apply market research to generate audience insights. Measure content performance. Develop and improve products. List of Partners vendors. Oil is crucial to the global economic framework, especially for its largest producers: the United States, Saudi Arabia, Russia, Canada, and China.
Investors looking to enter the oil and gas industry can quickly be overwhelmed by the complex jargon and unique metrics used throughout the sector. This introduction is designed to help anyone understand the fundamentals of companies involved in the oil and gas sector by explaining key concepts and the standards of measurement.
Hydrocarbons make up crude oil and natural gas, which are naturally occurring substances found in rock in the earth's crust. These organic raw materials are created by the compression of the remains of plants and animals in sedimentary rocks such as sandstone, limestone, and shale. The sedimentary rock itself is a product of deposits in ancient oceans and other bodies of water.
As layers of sediment were deposited on the ocean floor, the decaying remains of plants and animals were integrated into the forming rock. The organic material eventually transforms into oil and gas after being exposed to specific temperatures and pressure ranges deep within the earth's crust.
Oil and gas are less dense than water, so they migrate through porous sedimentary rock toward the earth's surface. When the hydrocarbons are trapped beneath less-porous cap rock, an oil and gas reservoir is formed. These reservoirs of oil and gas represent our sources of crude oil and gas. Hydrocarbons are brought to the surface by drilling through the cap rock and into the reservoir. The oil and gas industry is broken down into three main segments: upstream, midstream and downstream.
Upstream businesses consist of companies involved in the exploration and production of oil and gas. These are the firms that search the world for reservoirs of the raw materials and then drill to extract that material. The upstream segment is characterized by high risks, high investment capital, extended duration as it takes time to locate and drill, as well as being technologically intensive.
Midstream businesses are those that are focused on transportation. They are the ones responsible for moving the extracted raw materials to refineries to process the oil and gas. Midstream companies are characterized by shipping, trucking, pipelines, and storing raw materials. The midstream segment is also marked by high regulation, particularly on pipeline transmission, and low capital risk.
The segment is also naturally dependent on the success of upstream firms. Downstream businesses are the refineries. These are the companies responsible for removing impurities and converting the oil and gas to products for the general public, such as gasoline, jet fuel, heating oil, and asphalt.
One barrel, usually abbreviated as bbl, is equal to 42 U. A common methodology in the oil patch is to use a prefix of "M" to indicate 1, and a prefix of "MM" to indicate 1 million. For much of the history of the industry, natural gas was viewed as a nuisance and even today is flared in large quantities in some parts of the world, including the United States. Natural gas has taken on a more prominent role in the world's energy supply as a consequence of shale gas development in the United States, as mentioned above, and its lower greenhouse gas emissions when combusted when compared to oil and coal.
This guide looks at the business of oil and gas and is intended to serve as a research aid to sources worldwide, with a specific emphasis on the United States. It covers a brief history of the oil and gas industry, an overview of companies and organizations, statistic and pricing resources, and regulations. The industry is often divided into three segments:. These three areas are reflected in the organization of the guide.
Renewable and alternative energy companies are discussed in our Green Business: Sources of Information Guide. For an overview U. The following glossaries are freely available online and can be useful in understanding the terminology used in these industries. The oil and gas industry has been covered at length in books and other publications.
Throughout this guide, specific resources are recommended within a particular subtopic of oil and gas. Below are books that provide a good overview of the entire industry and may be useful starting points. The following materials link to fuller bibliographic information in the Library of Congress Online Catalog.
Links to additional online content are provided when available. Search this Guide Search. Oil and Gas Industry: A Research Guide This guide covers the business of oil and gas for researchers interested in the history, regulations, production, transportation and storage, marketing and distribution, statistical sources, and company research.
Introduction Oil Field, Saratoga, Texas. Library of Congress Prints and Photographs Division. The industry is often divided into three segments: upstream, the business of oil and gas exploration and production; midstream, transportation and storage; and downstream, which includes refining and marketing.
Energy Sources: A Primer. CRS Report R Congressional Research Service, March 16, Crunchbase External. This database provides data and analysis on startups, investors, and incubators.
It profiles companies, people, funds, investment rounds and other related events. While major and supermajor companies are included, this resource is more useful for researching new startups in the field. Use the "hubs" feature to see a list of companies in a specific category, like Oil and Gas Female Founded Companies. ProQuest Historical Annual Reports covers over companies and contains digital reproductions for more than 43, reports.
The database is an excellent source for research on companies, industries, American history, graphic design, advertising, and corporate architecture.
Key data include: financial information, Fortune rankings, industry classification, key people, geographic locations, and related companies. Reports can be browsed by company name, industry or date. Company Rankings Most company databases have tools to make lists which can be sorted on a number of metrics.
Use the analytics feature under the "companies" tab to browse top lists by revenue or capacity, or use the company benchmarking tool to generate a custom list or modify parameters for an existing peer group. Platts External Platts, an energy analyst and consulting group, releases an annual list of top energy companies based on five key metrics: total value of assets, total revenue, annual profits, return on invested capital, and three-year compounded annual growth rate for revenue.
Petroleum Intelligence Weekly Energy Intelligence's publication releases the rankings of the Top 50 oil companies annually.
To access, visit the reading room and submit a request for most recent November issue. Library of Congress Catalog Searches Additional works on companies in the oil and gas industries in the Library of Congress may be identified by searching the Library of Congress Online Catalog under appropriate Library of Congress subject headings.
Energy industries--directories. Gas industry--directories. Petroleum industry and trade--Case studies. Petroleum industry and trade--Directories. Service stations. Browse or search using the company name as a subject heading.
British Petroleum Company. For example: Gas industry--[country] Petroleum industry and trade--[country]. Gas industry--China. Petroleum industry and trade--Nigeria.
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