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Oil and Gas Product and Equipment Contracts
The petroleum industry is involved in the global processes of exploration, extraction, refining, transporting and marketing petroleum products. The largest volume products of the industry are fuel oil and petrol. Petroleum is also the raw material for many chemical products, including pharmaceuticals, solvents, fertilizers, pesticides, and plastics. The industry is usually divided into three major components: upstream, midstream and downstream.Midstream operations are usually included in the downstream category. Fuel and petroleum products have contributed about 60 per cent of the government's total revenue from excise in 2009-10, a report by CAG has said.