Oil & Gas

Almost 50% of petroleum production in the U.S. goes toward gasoline, but oil and natural gas also cook our food, heat our homes, and generate our electricity. Because the industry provides the building blocks for so much of what surrounds us each day, it's no surprise that the sector and its major players – often referred to as Big Oil – are such an economic and political force that it's hard to imagine a world without them.

The oil & gas sector can be divided into roughly two segments. First is the “upstream sector” which involves exploration (the search for oil or gas fields) and extraction (the drilling and operation of wells that bring the raw materials to the surface). Second is the “downstream sector” which is focused on production and distribution. The downstream operators process, store, and transport the raw materials to the refineries and petrochemical plants, then distribute the resulting petroleum products - gasoline, diesel, jet fuel, heating oil, natural gas, and propane - to the consumer market. Many of the largest oil companies have extensive operations in both segments and are therefore referred to as “integrated oil companies”.

Working closely with both the upstream and downstream components are the oil equipment and services companies that supply operational support to oil companies. These companies design, build, and supply oil rigs and pipeline equipment, conduct seismic testing, transport equipment for the upstream sector, and design plants, supply equipment, and delivery systems for the downstream sector. The success or failure of these auxiliary companies is tied to the rise and fall of the price of oil, since the price of oil will dictate increases or decreases in production. Most oil services jobs can be found in Texas, or internationally in places like London, Calgary, and the Middle East. In many ways, working for one of these support companies can feel like working directly for an oil company, given their close and interdependent relationships.