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Industry Players


Topics

 1. Fully Integrated

 2. Independent Producers

 3. Independent Refiners

 4. Independent Marketers

 5. Pipeline Companies

 6. Service Companies

 7. Trade and Professional Organizations

 8. Government Agencies

 9. National Oil Companies

10. Latest Developments

11. References


The oil and gas industry is composed of a number of different companies and organizations that contribute to supplying refined products and natural gas.  The industry is composed of fully-integrated oil and gas companies, independent oil and gas producers, refiners and marketers, pipeline operators, service companies, trade associations and government agencies.   Operating companies are those organizations that perform core functions along the value chain such as exploration and refining.


Fully Integrated

These companies are engaged in all aspects of the oil and gas industry from exploration to marketing.  The average consumer is well-acquainted with these companies by virtue of their branded gasoline stations.  The fully-integrated companies or majors explore for and produce oil and gas around the world, own pipelines and tankers to transport this oil and gas, have refineries to process the crude oil into refined products, and sell these products through a global network of wholesale and retail outlets.  Typical fully-integrated companies are ExxonMobil Corporation, BP, ChevronTexaco, ConocoPhillips Company and Royal Dutch/Shell.  

Please click on the following links to learn more:

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World's Largest Oil and Gas Companies

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Biggest US Oil and Gas Companies

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Independent Producers

Independent oil and gas producers are those companies that only explore and/or produce crude oil and natural gas.  These companies focus on their core strengths to compete with the major companies.  They may have global operations and can range in size from under 25 to thousands of employees.  The Independent Petroleum Association of America which represents these companies has over 8,000 members. Typical independent oil and gas producers are Apache Corporation, Devon Energy Corporation, Pioneer Natural Resources and XTO Energy Corporation.

Please click on the following link to learn more:

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Biggest US Oil and Gas Companies

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Top 50 US Operators Ranked by 2007 Operated Production Data

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Independent Refiners

Independent refiners are those companies that purchase crude oil and process it into finished products.  These companies may also own wholesale and retail marketing outlets (independent refiners and marketers) or sell their products to marketing companies.  Many independent refiners are members of the National Petrochemical and Refiners Association.  Typical independent refiners are Frontier Oil Corporation, Holly Corporation, Sunoco, Inc., and Valero Energy Corporation.

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World's Largest Refiners

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Ranking of US Refineries

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Independent Marketers

Independent marketers are companies that purchase refined products, usually gasoline, and sell them at retail outlets.  These companies would buy product from independent refiners or majors.  This classification would include organizations whose primary business is gasoline sales such as RaceTrac and QuikTrip and major retailers such as Costco, Albertson's and Wal-Mart who sell gasoline in addition to other merchandise.  The Petroleum Marketers Association of America and the Society of Independent Gasoline Marketers of America represent this group.

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Pipeline Companies

Pipeline companies transport crude oil, refined products, natural gas and natural gas liquids using networks of pipes and pumping or compressor stations.  These companies may be independent operations or joint ventures of operating companies. 

Colonial Pipeline Company is a major interstate pipeline that moves from refined products from the Gulf Coast to the East Coast.  Each day, it delivers an average of 80 million gallons of gasolines, kerosenes, home heating oils, diesel fuels and national defense fuels to shipper terminals in 12 states and the District of Columbia.  It is owned by BP (17.96%), CITGO Petroleum (15.79%), Conoco (8.53%), Equilon (16.12%), Koch Industries (7.30%), Marathon Oil Company (2.82%), Phillips Petroleum (8.02%) and Union Oil Company of California (23.44%). 

The Trans Alaskan Pipeline System, used to move crude oil production from the Alaskan North Slope to Valdez,  is owned by  BP Pipelines (Alaska) Inc. ( 50.01%), ExxonMobil Pipeline Company (20.34%), Amerada Hess Corporation (1.5%), Phillips Alaska Pipeline Corporation (1.42%), Phillips Transportation Alaska, Inc. (22.3%), Unocal Pipeline Company (1.36%) and Williams Alaska Pipeline Company, L.L.C. (3.08%). 

Natural gas pipelines such as El Paso Corp., Northern Natural Gas Co., Tennessee Gas Pipeline Co., Columbia Gas Transmission Corp. and Transcontinental Gas Pipe Line Corp. transport gas from fields to consumers.  The American Gas Association represents interstate natural gas pipeline companies.

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Pipeline 101

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US Interstate Gas Pipelines

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About US Natural Gas Pipelines

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US Interstate Oil Pipelines

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Service Companies 

Service companies can range from organizations that rent drilling rigs to firms that build refineries.  These organizations support the primary functions of the value chain.  They can also include accounting and information management firms, financial institutions, and law firms.  Representatives from this group are companies like Halliburton Company and Schlumberger

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Service Companies

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Oil & Gas Field Service Industry

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Trade and Professional Organizations

Trade and professional organizations support the industry and the its employees.  Trade organizations collect industry data, hold meetings, and advocate public policy beneficial to the industry.  They generally have offices in Washington, DC where they conduct their lobbying activities.  American Petroleum Institute, American Gas Association and Independent Petroleum Association of America are leading oil and gas trade organizations.

Professional organizations are focused on the industry's core technical skills.  Organizations such as the American Association of Petroleum Geologists and the Society of Petroleum Engineers conduct technical conferences and training seminars to keep their members up-to-date on the latest technical developments.  They have student chapters that help college students learn more about the industry and encourage them to pursue industry careers.

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Trade Associations

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Professional Organizations

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Government Agencies

Government agencies regulate industry operations to ensure compliance with state and Federal laws and compile industry statistics.  The Environmental Protection Agency (EPA) sets and enforces standards on air and water quality.  The Federal Energy Regulatory Commission (FERC) regulates interstate pipeline operations and tariffs. The Department of Energy (DOE) collects industry data and conducts energy research. Individual states have regulatory agencies, such as the Railroad of Commission of Texas, that oversee the safe operation of oil and gas production. 

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Government Agencies

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National Oil Companies

National oil companies are the oil and gas organizations of sovereign nations.  They are part of the government and are typically found in major oil producing nations.  These companies are among the largest in the world and include Saudi Arabian Oil Company, Petroleos de Venezuela. S.A. and Petroleos Mexicanos.

Please click on the following links to learn more:

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World's Largest Oil and Gas Companies

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List of National Oil Companies

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The Role of National Oil Companies in the International Oil Market

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OPEC net oil export revenues expected to fall in 2014 and 2015 - EIA - 12/17/14

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Latest Developments

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Shell's $70 billion takeover could herald wave of mergers - Shell has agreed to buy British rival BG Group for $70 billion. This giant acquisition may trigger other acquisitions as companies look to add to oil reserves while prices are low. - PennEnergy - 4/10/15

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"Companies slash capital budgets as oil price drop cuts cash flows" - Oil & Gas Journal forecasts a 32% cut in US E&P spending in 2015. Canadian budgets are forecast to drop 23%. These numbers hardly tell the whole story. "Of the North American E&P companies rated by Moody's only 6% plan to increase capital spending this year." Twenty one percent of the companies plan to reduce spending by more than 60%, and more than half will cut their budgets by at least 40%.  Oil & Gas Journal, April 6, 2015, 28-30.

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Analysts: Oil industry dealing with downturn better than years’ past - Investment bankers and analysts entrenched in the oil and gas industry say companies have so far staved off the major negative impacts of the current industry downturn better than previous downturns by acting more proactively and aggressively EIA explained, however, that “as oil prices and upstream investment spending fall, reduced demand for rigs and other oil field services will tend to reduce the price of those services. Lower costs for oil services can make upstream investment more attractive and partially offset the effect of reduced upstream budgets on the level of upstream activity.” Additionally, Wood Mackenzie said this week in a report that global exploration budget cuts will average 30% in 2015, noting that “the industry is addressing a long-standing cost inflation issue,” and “that on average exploration costs will fall by a third, softening the blow of budget cuts.” - Oil & Gas Journal - 3/26/15

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US oil and gas drillers scrabbling to thwart OPEC threat - Companies are using new technology to cut costs and recover more oil out the reservoir. Experts estimate that shale drillers pull up just 5% to 8% of the oil in place. - PennEnergy - 3/23/15

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USW, Shell reach tentative deal to end strike at US refineries - Oil & Gas Journal - 3/13/15

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Analysts expect oil prices to continue to fall - PennEnergy - 3/10/15 

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Report notes strong Saudi fiscal 'buffers' - Saudi Arabia has fiscal buffers enabling it to cover projected deficits while oil prices are low for at least 4 years and perhaps more than 8 years. - Oil & Gas Journal - 3/5/15

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Work stoppages commence at largest US refinery, three other facilities - Work stoppage notices were delivered to Motiva's 600 MBPD at Port Arthur, TX and two other refineries and a chemical plant. The new sites bring the total of affected facilities to fourteen. - Oil & Gas Journal - 2/23/15

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Blast hits Southern California oil refinery - Explosion rocks ExxonMobil refinery at Torrance. PennEnergy - 2/18/15 

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US sets 2014 M&A record, driving global values to $185 billion - Among the top 10 US upstream deals in 2014, six provided the buyer with its first foothold in a shale play. Another three of the top 10 deals were corporate acquisitions in which a company acquired a competitor with a similar operational profile. - Oil & Gas Financial Journal - 2/16/15

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Energy Market: Oil on wild ride, How will it end? - Arguments for increase, decrease, or stay the same with little consensus. - PennEnergy - 2/10/15 

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BHI: US rig count down 87 units in 10th straight week of losses - Total is lowest since March 26, 2010, and 315 units lower than last year. The count has decreased by 464 units of which 435 were targeting oil. - Oil & Gas Journal - 2/6/15

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Oil's Survival of the Fittest: Interview with Stan Szary of Saturn Minerals - Mr. Szary says, "For conventional light oil projects in Western Canada--like Saturn’s--with operating costs at $20 a barrel, its business as usual. For shale oil, heavy oil and oil sands projects, where operating costs can be anywhere from $50 to $100 a barrel, the outlook is far more challenging." OilPrice - 2/5/15

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Union strike underway at US refineries, petchem plants - United Steelworkers Union has instituted a strike at nine US refineries and petrochemical plants. The strike affects 1,950,000 B/D of capacity or 12.4% of US refinery capacity.  Oil & Gas Journal - 2/2/15

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Low oil prices produce 2015 budget cuts.

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    PNR cuts capital spending nearly in half - Oil & Gas Journal - 2/11/15

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    Chevron's capital budget down 13% from last year - Oil & Gas Journal - 1/30/15

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    Shell cuts $16 billion in spending - Oil & Gas Journal - 1/30/15

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    Oxy cuts capital budget by a third - Oil & Gas Journal - 1/30/15

 


References

To learn more about players in the oil and gas industry, check out the following references:

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World's Largest Oil and Gas Companies

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List of National Oil Companies

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The Role of National Oil Companies in the International Oil Market

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Biggest US Oil and Gas Companies

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Top 50 US Operators Ranked by 2007 Operated Production Data

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Service Companies

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Oil & Gas Field Service Industry

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Government Agencies

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Trade Associations

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Professional Organizations

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Pipeline 101

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US Interstate Gas Pipelines

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About US Natural Gas Pipelines

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US Interstate Oil Pipelines

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World's Largest Refiners

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Ranking of US Refineries

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Global Oil & Gas Industry Directory

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