The US oil industry is divided into three sectors: upstream (exploration and production), midstream (processing, storage and transportation) and downstream (refining, distribution and marketing).
Industry participants are categorised as ‘supermajors’, ‘majors’ and ‘independents’. ‘Supermajors’ are the handful of very large companies that account for most of the US oil industry revenues. US-based supermajors include ExxonMobil, Chevron and ConocoPhillips, whereas the overseas-based supermajors, BP and Shell, have substantial US operations. Smaller-scale integrated firms include Marathon, Hess and Murphy Oil.
Originally published in Getting The Deal Through: Oil Regulation in 33 Jurisdictions Worldwide - 2014.
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