Glossary entry

English term or phrase:

upstream portion of an oil company

English answer:

oil exploration

Added to glossary by ErichEko ⟹⭐
Mar 21, 2007 01:32
17 yrs ago
2 viewers *
English term

upstream portion of an oil company

English Tech/Engineering Petroleum Eng/Sci HR
Think, for example, of the key wealth creator in your business. In an investment banking firm, that would probably be an investment banker. In a software company, it could be a systems architect. In the ***upstream portion of an oil company***, it's probably the petroleum geologists who search the world for oil.

Responses

+2
30 mins
Selected

oil exploration

The oil industry is structured more or less as follows:

= exploration (seeking)
= exploitation (pumping)
= refinery (distillating)
= distribution (selling).

Many oil giants like Shell and Exxon do all of them. Geologists are involved mainly in exploration stage.
Peer comment(s):

agree juvera : Clear answer, not guesswork. Without the geologists exploration there is no oil, no business.
7 hrs
Thanks juvera! Frequently, it is investors that enjoy the most after a successful exploration; the geologists can just dream of another project. :)
agree Alfa Trans (X)
7 days
Thanks Marju!
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4 KudoZ points awarded for this answer. Comment: "Thanks, Erich - great explanation :o)"
+4
5 mins

The business section closer to the point of production or manufacture rather than the point of sale

http://www.thefreedictionary.com/Upstream

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Note added at 7 mins (2007-03-21 01:40:06 GMT)
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So it is the part of the oil company dealing with production and that is where the geologists are.
Peer comment(s):

agree Jack Doughty
5 hrs
agree Rafal Korycinski
6 hrs
agree kmtext
7 hrs
agree Vicky Papaprodromou
7 hrs
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11 hrs

field portion of an oil company

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