The process of getting oil from the ground and into your vehicle as gasoline or other automotive chemical products is a long, complicated journey. Oil and gas companies spend a lot of money and resources each year to explore new oil fields, extract oil from the ground and refine the oil they recover for use in a variety of industries across the world.
Different Streams Bring Everything Together
To help tie together an oil exploration and production operation, the industry breaks processes down into different parts known as streams. The following are the three commonly recognized streams:
- Upstream
- Midstream
- Downstream
Upstream activities involve things like extracting raw crude oil from the ground, surveying land for potential drilling opportunities and working with environmental agencies to ensure that all exploration and extraction is handled according to the law.
Downstream activities involve things like refining oil for use in diesel or jet fuel engines. A refinery is one of the last stops for crude oil, but even after oil has been refined into fuel, it then needs to be transported to gas stations and depots for distribution.
Although upstream and downstream activities in the oil industry tend to get the most attention from the public, what about midstream activities? What processes are involved in midstream activities, and how vital are midstream activities to the oil production process as a whole?
Meeting in the Middle
Midstream activities typically involve everything that takes place between getting oil out of the ground and refining it for use by industry and the general public. Some midstream activities may include:
- Storing raw oil
- Transporting raw oil
- Marketing oil to gasoline companies
To help with these activities, a company may use midstream oil and gas analytics software. This software can provide insight about logistical challenges, predict need in certain areas and provide automated marketing solutions to reach potential buyers of crude oil. Find the best midstream oil and gas analytics software by visiting this website.
Midstream oil and gas analytics software may also be used to determine and predict trading opportunities in the financial markets. This part of the equation is crucial considering the importance of oil prices on the market as a whole.
Read a similar article about oil and gas software here at this page.
