What is the exploration and production sector of the oil and gas industry sometimes called?
A) Refining
B) Upstream
C) Downstream
D) Midstream
Answer: B
Explanation: A) Incorrect. The refining sector of the oil and gas process industry (the downstream segment) takes petroleum and transforms it into finished products, such as gasoline and jet fuel, or into feedstocks (such as plastics).
B) Correct. The exploration and production sector is sometimes called E&P or upstream.
C) Incorrect. The refining sector of the oil and gas process industry (the downstream segment) takes petroleum and transforms it into finished products, such as gasoline and jet fuel, or into feedstocks (such as plastics).
D) Incorrect. The transportation sector (also called the midstream sector) moves petroleum from where it is found to the refineries and petrochemical facilities.
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