Oil, Gas & Energy

Though the Oil and Gas industry is relatively new, unrefined oil products have been used by humans since prehistoric times. Industrial extraction and processing of oil did not begin until the 19th century, and natural oils and coal continued to be major sources of heat and power until the 20th century.

Oil and natural gas are major industries in the energy market and play an influential role in the global economy as the world's primary fuel sources. The processes and systems involved in producing and distributing oil and gas are highly complex, capital-intensive, and require state-of-the-art technology.

The Oil and Gas industry is one of the largest sectors in the world in terms of dollar value, generating an estimated $3.3 trillion in revenue annually. Oil is crucial to the global economic framework, especially for its largest producers: the United States, Saudi Arabia, Russia, Canada, and China.

There are two main categories that make up the oil and gas industry, which are referred to as upstream and downstream. Upstream operations are often referred to as the exploration and production (E&P) component of the petroleum industry. These operations include looking for new petroleum reserves, drilling exploratory wells, and drawing hydrocarbons to the surface. The upstream component of the petroleum industry is also responsible for separating out the different hydrocarbons, typically into crude oil and natural gas.

Processing and transportation are the main downstream operations of the Oil and Gas industry. Natural gas and crude oil are often transported overland by pipelines, though large tanker ships can also carry hydrocarbons over the water. The processing sector of the Oil and Gas industry consists mainly of refineries, which are used to turn crude oil into a variety of useful products. This is primarily accomplished through fractional distillation, though different types of cracking can also be used to achieve specific kinds of hydrocarbons.

As we become more and more aware of our impact on the environment, the importance of transitioning from conventional energy resources to renewable sources is becoming clearer to consumers. Green energy is a solution to greater sustainability in our power grid, but the term is met with confusion by some, and commonly used to refer to renewables by others.

According to the Environmental Protection Agency (EPA), green energy provides the highest environmental benefit and includes power produced by solar, wind, geothermal, biogas, low-impact hydroelectric, and certain eligible biomass sources.