Imagine this: A biochemical process forms hydrocarbons, in reserves that are proven or unproven, and in types that are sweet and light or heavy and sour. Then find out the commercial viability of such reserves and measure the output in barrels per day. Now imagine gas floating on oil. Someone tells you that the transformation of these resources into industrial and consumable products takes place through upstream, midstream or downstream activities. The above makes little sense to some outside "the business," including many citizens in countries where oil, gas and minerals have recently been discovered. But the complex and nuanced issues surrounding the oil and gas sector—from the geology to exploration, extraction and, the most crucial stage of all, commercial development—become clearer with a little help. The Natural Resource Governance Institute (NRGI) offered to decode for us this complicated industry, and so I took my first little baby st...
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