products: That puts refining companies in the last link of the oil industry's three-part value chain that works together to transform raw production into usable end products The upstream oil and gas segment produces hydrocarbons -- oil, natural gas, and natural gas liquids NGLs -- by drilling wells into underground reservoirs, according to The Independent. The midstream segment then transports, stores, and processes these hydrocarbons. Matthew DiLallo TMFmd19 Jul 9, 2019 at 10 11AMEnergy, Materials, and Utilities Refineries take raw crude oil and refine it into usable fuels and other refined petroleum products. Finally, oil and gas flow into downstream facilities such as refineries and petrochemical plants, which transform them into usable products such as fuels and plastics. That often makes a refining stock an excellent complimentary holding for investors who also have shares of an upstream oil producer in their portfolios. Because refiners consume oil in their plants, refining companies tend to benefit when oil prices fall.
(news.financializer.com). As
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