Oil & Gas

Oil & Gas

he Oil & Gas industry, often referred to as the petroleum industry, is a massive global sector and an extension of the mining and natural resources domain. Home to some of the largest corporations in the world, the industry boasts a staggering annual revenue of approximately USD 1.3 trillion. It encompasses a wide spectrum of activities, including exploration, extraction, refinement, transportation via tankers or pipelines, and marketing and distribution.

Closely associated with energy production, the Oil & Gas industry has served as the backbone of industrialization—powering everything from automobiles to factories—since the Industrial Revolution.

The sector is broadly categorized into three main segments:

  • Upstream – Involves exploration and production of crude oil and natural gas, often in remote or offshore locations.

  • Midstream – Covers transportation, storage, and marketing, forming the vital link between extraction sites and processing facilities.

  • Downstream – Comprises refining, distribution, and retail, including refineries, distribution companies, and fuel outlets.

Beyond fueling transportation and industry, Oil & Gas also serves as a critical raw material source for various sectors such as solvents, pharmaceuticals, fragrances, plastics, and energy production—touching the lives of both consumers and industries on a daily basis.

Condition Monitoring – Key Applications in the Oil & Gas Sector

Test & Measurement – Practical Implementations

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