Companies that deal with oil typically fall into several categories, depending on their area of focus in the oil industry. The main categories include:

1 . Exploration and Production (Upstream)

• These companies focus on finding and extracting crude oil from the ground or under the sea. They operate oil rigs, drilling platforms, and explore new fields.
• Examples: ExxonMobil, Chevron, BP, Shell, ConocoPhillips

2 . Refining (Midstream)

• These companies refine crude oil into usable products like gasoline, diesel, jet fuel, and petrochemicals. They also manage the transportation of crude oil via pipelines, tankers, or rail.
• Examples: Valero, Phillips 66, Marathon Petroleum

3 . Distribution and Marketing (Downstream)

• These companies are involved in the sale and distribution of refined oil products. This includes gas stations and large oil product suppliers.
• Examples: TotalEnergies, Saudi Aramco (though they’re also involved in upstream and midstream), BP (downstream sector)

4 . Integrated Oil Companies

• Some large oil companies are vertically integrated, meaning they operate across the entire supply chain from exploration to refining and distribution.
• Examples: ExxonMobil, Chevron, Shell, and BP

5 . Oilfield Services

• These companies provide the necessary equipment, technology, and services to oil exploration and production companies. They may not extract oil themselves but play a crucial role in facilitating oil operations.
• Examples: Halliburton, Schlumberger, Baker Hughes