The oil and gas industry involves the exploration, extraction, refining, transporting, and marketing of petroleum (crude oil) and natural gas.
Often termed the petroleum industry, it is usually divided into three major segments:
- Upstream (locating and producing oil/gas)
- Midstream (transporting and storing)
- Downstream (refining into fuels and chemicals, and distribution to consumers)
Oil & gas remains one of the largest global industries, fueling transportation, heating, electricity generation, and providing feedstock for petrochemicals.
Quick Industry Match Guide
| Industry Tier | Company Types | Examples |
|---|---|---|
| Tier 1: Prime Operators & Integrated Majors | Exploration & production firms, refiners, integrated energy companies | ExxonMobil, Saudi Aramco, Chevron, TotalEnergies |
| Tier 1-2: Major Systems Integrators | Pipeline operators, LNG shippers, refining processors | Kinder Morgan, Enbridge, Phillips 66, Cheniere Energy |
| Tier 2-3: Component & Specialized Suppliers | Drilling contractors, oilfield service providers, equipment manufacturers | Transocean, Schlumberger, Halliburton, Baker Hughes |
| Tier 3: Raw Materials & Feedstock | Geophysical survey providers, chemical extractant suppliers, seismic data firms | ION Geophysical, BASF (drilling fluids), CGG (seismic imaging) |
Oil & Gas Supply Chain Stages: Quick View Table
| Supply Chain Stage | Tier 3: Raw Materials & Feedstock | Tier 2-3: Component & Specialized Suppliers | Tier 1-2: Major Systems Integrators | Tier 1: Prime Operators & Integrated Majors |
|---|---|---|---|---|
| Description & Key Activities | Initial exploration and site preparation for hydrocarbon detection. Activities include seismic surveys, geological modeling, and permitting to identify viable reservoirs. Disruptions here (e.g., regulatory bans) affect all downstream extraction and production. | Providing equipment and services for well development and maintenance. Activities include rig mobilization, casing installation, and frac sand supply with safety testing. This stage supports modular operations with just in time logistics for remote sites. | Extracting, transporting, and initially processing hydrocarbons. Activities include field operations, pipeline routing, and LNG liquefaction with flow assurance. This mid-stream stage bridges production to refinement, often involving joint ventures for large fields. | Full-cycle operations from exploration to retail distribution. Activities include reservoir management, refinery optimization, and branded fuel marketing. End stage risks include price volatility or geopolitical supply cuts. |
| Expanded Company Types | Seismic data acquisition providers (e.g., 3D/4D imaging) Drilling fluid and chemical suppliers (e.g., muds, lubricants) Geophysical tool fabricators (e.g., sensors, software for modeling) Environmental assessment contractors (e.g., baseline studies) | Drilling rig contractors (e.g., offshore jack-ups) Well completion service providers (e.g., cementing, perforating) Fracturing and pumping specialists Equipment rental firms (e.g., pumps, valves) | Gas processing plant operators (e.g., dehydration, compression) Pipeline and storage terminal managers LNG liquefaction and shipping coordinators Offshore platform integrators (e.g., FPSO vessels) | E&P field developers (e.g., onshore shale plays) Refinery and petrochemical complex operators Retail fuel station networks Integrated super-majors (e.g., well-to-wheel) |
| Examples | ION Geophysical (seismic data processing), BASF (mud additives), CGG (marine seismic vessels), Fugro (geotechnical surveys) | Transocean (deepwater drillships), Halliburton (frac fleets), Liberty Oilfield Services (hydraulic fracturing), NOV (drilling tools leasing) | Cheniere Energy (LNG export terminals), Kinder Morgan (interstate pipelines), Enbridge (crude oil transport), SBM Offshore (floating production storage) | ExxonMobil (Permian Basin E&P), Phillips 66 (Gulf Coast refineries), Chevron (retail stations), Saudi Aramco (full integrated chain) |
Oil & Gas Sub-Sectors
These sub-sectors break down the industry into focused areas. Select the one(s) matching your company's core operations.
Company categories have been expanded with additional functional details (e.g., specific roles like drilling vs. completion) for clarity.
1. Upstream (Exploration & Production)
Activities related to discovering oil and gas deposits and extracting them from the ground. This includes geological surveys, drilling wells, and operating oil or gas fields.
Companies known as E&P companies (Exploration & Production), e.g., ExxonMobil, BP, Saudi Aramco, find and pump crude oil or natural gas.
Upstream also involves services like drilling contractors (e.g., Transocean) and oilfield services firms (e.g., Schlumberger), which provide technology and expertise for extraction.
| Company Category | Expanded Examples & Roles |
|---|---|
| Exploration & Reservoir Managers | ExxonMobil (seismic-led offshore discoveries with appraisal drilling); BP (North Sea field redevelopment with enhanced recovery) |
| Onshore Shale & Conventional Producers | Occidental Petroleum (Permian Basin horizontal drilling); ConocoPhillips (Alaska conventional vertical wells) |
| Offshore & Deepwater Operators | Shell (Gulf of Mexico subsea tiebacks); Equinor (Norwegian Sea floating platforms) |
Select if your company:
- Conducts exploration surveys or operates E&P fields
- Drills wells or provides upstream extraction services
2. Midstream
Focuses on the transportation, storage, and wholesale marketing of crude oil, natural gas, and refined products.
This includes pipelines (oil pipelines, natural gas pipelines), oil tankers and LNG ships, rail transport of oil, and storage terminals.
Midstream operators ensure oil and gas move from production sites to refineries and ultimately to distribution networks.
| Company Category | Expanded Examples & Roles |
|---|---|
| Pipeline & Storage Operators | Kinder Morgan (natural gas interstate transmission with compressor stations); Enbridge (Canadian crude Mainline with tank farms) |
| LNG Shipping & Terminal Specialists | Cheniere Energy (Sabine Pass LNG liquefaction/export); Golar LNG (floating storage regasification units) |
| Rail & Tanker Transport Providers | GATX Corporation (rail tank cars for Bakken crude); Scorpio Tankers (VLCCs for seaborne oil) |
Select if your company:
- Operates pipelines, storage terminals, or LNG facilities
- Provides midstream transport via rail, ship, or truck
3. Downstream
Encompasses refining crude oil into fuels (gasoline, diesel, jet fuel) and other petrochemicals, as well as the marketing and distribution of these products to end users.
Refineries process crude into finished products. Downstream also includes petrochemical plants that use petroleum derivatives to make chemicals and plastics, and gas distribution utilities delivering natural gas to homes and businesses.
Company Categories
| Company Category | Expanded Examples & Roles |
|---|---|
| Refining & Petrochemical Processors | Phillips 66 (Wood River refinery with alkylation units); Valero Energy (Gulf Coast hydrocracking for diesel) |
| Fuel Marketing & Retail Networks | Shell (Downstream retail with branded EV charging); Marathon Petroleum (Speedway stations for consumer fuels) |
| Natural Gas Distribution Utilities | Atmos Energy (local gas delivery pipelines); Sempra Energy (SoCalGas residential metering) |
Select if your company:
- Refines crude into fuels or petrochemicals
- Markets/distributes fuels or operates gas utilities
4. Integrated Majors
Large oil & gas companies often operate across upstream, midstream, and downstream (hence termed integrated).
Firms like Royal Dutch Shell, BP, TotalEnergies or Chevron explore and produce oil/gas, transport it via owned pipelines or shipping fleets, refine it in their refineries, and sell fuels through their branded service stations.
These companies span multiple sub-sectors and provide a full supply chain from well to pump.
| Company Category | Expanded Examples & Roles |
|---|---|
| Global Super Majors | Royal Dutch Shell (integrated LNG from Qatar fields to European retail); Chevron (Permian E&P to California refineries and stations) |
| State-Owned Integrators | Saudi Aramco (Ghawar field production to Ras Tanura refining/export); Petrobras (pre-salt offshore to Brazilian fuel networks) |
| Diversified Energy Majors | TotalEnergies (African upstream to European petrochemicals); BP (North Sea E&P to Castrol lubricants) |
Select if your company:
- Operates across E&P, transport, refining, and retail
- Provides integrated oil & gas supply chain services
5. Oilfield Equipment & Services
Companies that manufacture drilling rigs, pumps, and other oilfield equipment, or provide technical services (seismic surveys, well logging, fracking services).
While not directly extracting oil, they enable upstream activities.
| Company Category | Expanded Examples & Roles |
|---|---|
| Drilling & Well Services Providers | Schlumberger (wireline logging and perforating); Halliburton (cementing and stimulation services) |
| Equipment Manufacturers | Baker Hughes (turbodrills and subsea pumps); Weatherford (drilling jars and fishing tools) |
| Seismic & Completion Specialists | CGG (offshore seismic acquisition); Pioneer Natural Resources (frac sand and proppant logistics) |
Select if your company:
- Manufactures oilfield equipment like rigs or pumps
- Provides seismic surveys, well logging, or fracking services
Indirect Connections to Oil & Gas
Companies not directly in core extraction or refinement may still connect indirectly through supply chains, services, or shared technologies. These links can expose your business to oil & gas disruptions (e.g., price crashes or rig count changes).
Monitor via additional industry selections:
| Indirect Connection Type | Description | Examples of Affected Companies | Recommended Additional Industry |
|---|---|---|---|
| Material & Resource Suppliers | Provide chemicals or steels for drilling, shared with chemicals/mining. | Pipe coaters for corrosion resistance. | Industrial Chemicals |
| Tech Component Providers | Supply sensors or software for seismic, with crossovers to high tech. | AI for reservoir simulation. | High Tech |
| Logistics & Transport Enablers | Handle crude shipping or rig mobilization. | Barges for offshore platforms. | Freight & Logistics |
| Engineering & Testing Services | Offer reservoir modeling or safety audits not exclusive to O&G. | Pressure testing labs for valves. | Research & Development |
| Telecom Infrastructure | Build remote communications for offshore rigs. | VSAT for wellhead monitoring. | Telecommunications |
| Energy Overlaps | Supply power for refineries or flares. | Gas turbines for compression. | Energy & Utilities |
| Manufacturing Tools & Processes | Produce casings or valves from general fabrication. | Forging shops for drill bits. | General Manufacturing |
| Chemical & Coating Specialists | Develop fracking fluids or pipeline inhibitors. | Surfactants for enhanced recovery. | Industrial Chemicals |
| Cross-Sector Innovation Borrowers | Adapt seismic tech for mining surveys. | Drones for pipeline inspections. | Construction |
Additional Industries to Select Alongside Oil & Gas
Based on supply chain dependencies, we also select these industries (expanded with indirect rationale):
| Related Industry | Why You Might Select It | Indirect Connection Examples |
|---|---|---|
| High Tech | Seismic software, IoT for rig monitoring | Data outages halting drilling decisions |
| Natural Resources & Mining | Overlaps in drilling tech, metal ores for pipes | Ore shortages delaying rig fabrication |
| General Manufacturing | Equipment like pumps/valves for O&G tiers | Factory fires disrupting frac fleet builds |
| Energy & Utilities | Power generation from gas, refinery electricity | Blackouts forcing production curtailments |
| Industrial Chemicals | Drilling fluids, petrochemical feedstocks | Additive shortages slowing fracking operations |
| Freight & Logistics | Tanker/pipeline hauls, crude rail transport | Port strikes stranding LNG cargoes |
| Construction | Offshore platform builds, pipeline laying | Weather delays in rig installations |
| Research & Development | Reservoir modeling R&D, carbon capture technology | Patent disputes on enhanced recovery |
| Telecommunications | Fiber for pipeline SCADA systems | Signal failures in remote field operations |
Do NOT Select Oil & Gas If Your Company
Avoid selecting if your involvement is peripheral—focus on your primary industry for targeted alerts.
| Situation | Select This Industry Instead |
|---|---|
| Only consumes fuels or operates in renewables without fossil ties | Select Energy & Utilities or Renewables |
| Makes general equipment or chemicals for multiple sectors | Select General Manufacturing or Industrial Chemicals |
| Provides IT, software, or consulting services to O&G firms | Select Technology, SaaS, or Professional Services |
| Runs gas stations or fuel retail without upstream/refining | Select Retail |
| Manufactures non-energy consumer goods like plastics from petro | Select Consumer Goods |
| Provides financing, insurance, or legal services for O&G | Select Insurance & Finance |
Why Select Oil & Gas
Selecting Oil & Gas ensures your organization receives EventWatch bulletins about:
- Pipeline ruptures, LNG terminal delays, or tanker groundings
- Refinery outages, fuel price spikes, or petrochemical shortages
- Integrated major M&A, OPEC decisions, or sanction impacts
- Oilfield service issues, equipment failures, or frac sand bottlenecks
- Seismic survey results, well completion risks, or midstream expansions
- Feedstock shortages (crude, natural gas) or environmental spills
These alerts help your company anticipate and respond to events that directly impact operations, supply chain continuity, and business strategy.
Was this article helpful?
That’s Great!
Thank you for your feedback
Sorry! We couldn't be helpful
Thank you for your feedback
Feedback sent
We appreciate your effort and will try to fix the article