The Oil Industry : A Globally Influential Process Essay

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The oil industry is a globally influential process. It includes the exploration, extraction, refining, and marketing of petroleum products. These are broken down into three sectors upstream, midstream, and downstream. The Oil industry is vital for both the US and Saudi Arabia and their economies. The United States being a major importer, in 2015, the US imported 9.4 million barrels of petroleum a day, one barrel equals 42 U.S. gallons. (EIA 2015) Saudi Arabia being 2nd highest import to the US, and Canada being number 1. The US Exported 4.7 million barrels a day.(EIA 2015) Saudi Arabia, on the other hand, one of the world 's largest oil exporters, producing 9.9 million barrels of petroleum a day, as of 2011, (IEA 2011) exported 7,571,000 bp/d, (POB) 17% of the crude petroleum going to the United States. (OEC 2011) the biggest oil company for the US, based on revenue of 2015, Exxonmobil with 268.9 billion USD, and Saudi Arabia’s Saudi Aramco which was on top of the world leaderboard with 478 billion USD (Forbes 2012). The oil companies can range in types, Integrated having both upstream and downstream ops like the top businesses of the countries. Independant companies have either upstream or downstream but not both. Oil service companies which provide products and/or services to the oil companies, and then the oil equipment manufacturers providing the equipment for the oil companies (PSAC 2016). In Saudi Arabia, the oil supplies have gone through what is known as

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