upstream/downstream sector

In the oil and gas industry, the upstream sector involves exploring, extracting, and producing crude oil and natural gas from underground reservoirs. It encompasses activities like searching for reserves, drilling wells, and managing production. The downstream sector starts after extraction and focuses on refining crude oil into finished products such as gasoline, diesel, jet fuel, and petrochemicals. It also includes distributing, marketing, and selling these products to consumers and industries. Essentially, upstream is about finding and pulling out natural resources, while downstream is about processing and delivering these resources to end users.