what types of companies are considered upstream
Upstream and downstream are general business terms referring to an oil or gas company's location in the supply chain. The closer to the end user a function or firm is, the further downstream it is said to be. Raw material extraction or production are elements of the supply chain considered to be upstream. The upstream companies identify oil and natural gas deposits and engage in the extraction of these resources from underground. These firms are often called exploration and production companies. Refiners represent the downstream element of the oil and gas supply chain. Upstream oil and gas operations identify deposits, drill wells, and recover raw materials from underground.