The activities in the oil and gas industry are classified into
ECONOMICS
JAMB 2008
The activities in the oil and gas industry are classified into
- A. exploration and transportation
- B. upstream and downstream
- C. discovery and extraction
- D. onshore and offshore
Correct Answer: B. upstream and downstream
Explanation
The term upstream and downstream is used in the oil and gas industry to refer to the various activities of an oil or gas company. Upstream activities involves companies who extract or produce raw materials used in the production of oil and gas while Downstream industry are those who are involved in the distribution, sale and delivering of the refined products to the final customers.
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