Global Process Plant Equipment Market in Downstream Oil and Gas Industry to Rise over Forecast Period 2016-2020
The oil and gas industry can be broadly segregated into upstream, midstream, and downstream segments. Upstream refers to the exploration and drilling of oil and gas. Midstream constitutes the transportation of crude oil and natural gas to the refineries. Downstream refers to the refining of crude oil and gas into a pre-defined range of products according to specifications. The relative quantities of the refined products are directly dependent upon the quality of crude used.
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