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Photo: Daniel Olah / Unsplash

Downstream oil: Petroleum through the pipes

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At first glance, downstream oil may seem like something a company wants to shy away from - because who wants gallons of petroleum eddying down their local river? But rest easy - downstream oil is just another way of describing companies involved in the refining of petroleum crude oil and the processing of raw natural gas. Downstream oil is the last link in the oil business chain, coming after upstream and midstream. These companies extract revenue not from the ground but from the selling and distribution of oil - predominantly products that derive from crude oil like gasoline, diesel, and jet fuel.

This Spark lists the biggest names in the downstream oil business, all with market capitalizations above 1bn. We have excluded integrated oil companies (organizations covering every segment of the industry - upstream, midstream, and downstream), and instead have included stocks that convert barrels of black liquid into green tether. However, this list doesn't constitute advice - always do research before placing a trade.