Industry

Oil & Gas Refining & Marketing

The Oil & Gas Refining & Marketing industry is an essential component of the global energy sector, responsible for transforming crude oil and raw natural gas into a wide range of usable products and distributing them to end-users. This segment plays a crucial role in converting raw energy resources into fuel and other products that power the global economy and support daily life.

Key activities in the Oil & Gas Refining & Marketing industry include:

  1. Refining: The process of converting crude oil into various refined products such as gasoline, diesel, jet fuel, heating oil, and petrochemicals, through a series of complex processes, including distillation, cracking, and reforming.
  2. Gas Processing: Treating raw natural gas to remove impurities, water, and other contaminants, and separating it into marketable natural gas and natural gas liquids (NGLs), such as ethane, propane, and butane.
  3. Petrochemical Manufacturing: Producing chemical products derived from petroleum or natural gas, used as raw materials in a wide range of industries, including plastics, textiles, and pharmaceuticals.
  4. Marketing & Distribution: Selling and distributing refined products and petrochemicals to wholesale and retail customers, including fuel stations, industrial facilities, utilities, and other commercial entities.

The Oil & Gas Refining & Marketing industry is subject to various challenges, including fluctuating oil and gas prices, stringent environmental regulations, and the increasing global shift towards cleaner and renewable energy sources. These factors have led the industry to focus on improving operational efficiency, reducing environmental impact, and investing in research and development to innovate and diversify product offerings.

Top Companies
  • Marathon Petroleum
  • Phillips 66
  • Valero Energy
  • HF Sinclair
  • Cosan
  • Valvoline
  • PBF Energy
  • Sunoco
  • CVR Energy
  • Delek Holdings
  • World Fuel Services

Learn More

In-Store Marketing Jonathan Poland

In-Store Marketing

In-store marketing refers to the use of physical retail locations, such as stores and showrooms, as a platform for marketing…

Stakeholders Jonathan Poland

Stakeholders

Stakeholders are individuals or groups who have an interest or concern in something, especially a business. For example, in a…

Niche vs Segment Jonathan Poland

Niche vs Segment

A niche is a specific, identifiable group of customers who have unique needs and preferences that are not shared by…

Relationship marketing Jonathan Poland

Relationship marketing

Relationship marketing is a type of marketing that focuses on building long-term, mutually beneficial relationships with customers, rather than just…

What is a Competitive Market? Jonathan Poland

What is a Competitive Market?

A competitive market is a type of market in which there are numerous buyers and sellers, and in which the…

Decision Costs Jonathan Poland

Decision Costs

Decision costs refer to the costs associated with making a decision. These costs can take many forms, including the time…

Overhead Costs Jonathan Poland

Overhead Costs

Overhead costs, also known as “indirect costs” or “indirect expenses,” are the costs that a company incurs in order to…

Accountability Jonathan Poland

Accountability

Accountability refers to the responsibility of an organization or individual to provide explanations for their actions and accept responsibility for…

Financial Controls Jonathan Poland

Financial Controls

Financial controls are the policies, procedures, and processes that an organization puts in place to manage and protect its financial…