Q3. How will you describe the setup of oil industry worldwide?

The oil industry is typically divided into three main segments: Upstream: The upstream segment focuses on exploration and production activities. This includes performing various types of surveys, drilling wells and testing the oil and gas reservoirs to establish commercial viability and finally producing hydrocarbons. Midstream: The midstream segment deals with the transportation and storage of crude oil and natural gas. This includes building and operating pipelines, storage facilities, tankers and terminals. Downstream: The downstream segment focuses on the refining and processing of crude oil and natural gas into usable products, such as petrol, diesel, gasoline, jet fuel, LNG, PNG and various types of petrochemicals. It also deals with establishing the fuel stations and marketing the products.