Table of Contents
The oil and gas industry includes exploration, extraction, drilling, refining, transportation of oil and gas.
The global oil and gas value chain can be divided into three segments – upstream, midstream and downstream. The upstream segment includes exploration, field development and production operations. Transportation, processing, storage and distribution are part of midstream segment. The downstream segment includes manufacturing, crude oil refining and marketing of oil and gas products.
The total value of the oil & gas market globally in 2015 was $x billion. Related to a world population of 7.3 billion in 2015 this equates to about $x per person globally. Given that world domestic product was approximately $73.5 trillion in 2015, the market makes up about x% of the global economy.
Capturing the Value of Technology – The oil and gas industry has improved its technology or leveraged that of its service suppliers to match with the world’s increasing hydrocarbon demand. Many oil and gas companies have made use of digitization and robotics to increase production with limited investment. Oil and gas companies have also taken a holistic approach to technology, process management and organizational alignment.
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