The oil and gas industry is broken down into three segments: upstream, midstream, and downstream.
The upstream Industry: This sector includes searching for potential underground or underwater crude oil and natural gas fields,
drilling exploratory wells, and subsequently drilling and operating the wells that recover and bring the crude oil or raw natural gas to the surface. The upstream is sometimes known as the exploration and production (E&P) sector.
The midstream Industry: It processes, stores, markets, and transports commodities, such as crude oil, natural gas, natural gas liquids (NGLs, mainly ethane, propane, and butane), and sulphur. The midstream provides the vital link between the far-flung petroleum-producing areas and the population centers where most consumers are located. The downstream Industry: This includes oil refineries, petrochemical plants, petroleum products distributors, retail outlets, and natural gas distribution companies.
The oil and gas sector plays a vital role in influencing decision-making for all the other important sections of the economy as it is among the eight core industries in India.
The need for oil and gas is projected to grow more shortly, thereby making
the sector quite conducive for investment. To fulfill the increasing demand, the government of India has adopted several policies. The government has allowed 100 percent Foreign Direct Investment (FDI) in many segments of the sector, including natural gas,
petroleum products, and refineries, among others.
The report states that India had 4.5 thousand million barrels of proven oil reserves at the end of 2018 and produced 39.5 million tons in 2018. As of 1 April 2019, India had a network of 10,419 km of crude pipeline having a capacity of 145.6 MMTPA.
Deploy new digital and analytics tools
Improve on cost and productivity
Price volatility, supply chain disruption, and the complex shift toward alternative energy sources
So we can imagine how big this industries is and it needs to have a proper management system, IWCN offers a number of platform for maintaining and managing all these departments. Another product of ours that is GST compliant and helps in creating bills, invoices and can check for item stocks, add unlimited contacts, leads, etc. Also, it allows you to cloud your automated cloud data to ensure data that is deleted can be restored anytime.
SHIFTHRM removes the complexity of management through automation. Record Real-time Check-In/Check-Out with managing approvals, workflow, furthermore providing flexibility, mobility & scalability to simplify your day-to-day hr and payroll processes.
Exfi is a system of ours which is GST compliant and helps in creating bills, invoices and can check for item stocks, add unlimited contacts, leads, etc. Also, it allows you to backup your automated cloud data which ensures the data that is deleted can be restored anytime. Exfi is the simplest & easiest Goods and Service tax software that helps you to manage multiple companies, invoices, bills and manage inventory as per the GST guidelines. You can do your business, Exfi will take care of your Invoicing and Billing.
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