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How many downstream oil and gas wholesalers are there in the USA?
Hello and thanks for your question about downstream oil and gas wholesalers in the USA! In short, there are 6,700 downstream oil and gas wholesalers in the United States. Below you will find a more in-depth explanation of this number and of the oil and gas industry as a whole.
METHODOLOGY
I searched corporate websites, industry reports, and regulatory filings for information on the oil and gas industry in the USA. I will briefly describe what oil and gas wholesalers do, the overall industry, and provide the names of several major companies in order to supplement the information about the number of wholesalers.
OIL AND GAS INDUSTRY
The energy industry is broken into upstream, midstream, and downstream companies. Upstream refers to the discovery and pumping of the oil. Midstream is transportation and shipping. Downstream companies are involved in the refining and distribution of petroleum products. Basically, the downstream sector is responsible for selling the final oil-based products. Wholesalers "distribute petroleum products wholesale" to "private-brand marketers and to large commercial and industrial consumers". This often requires a large "network of manufacturing plants, transportation systems, and distribution centers" to create and deliver the company's products to consumers. About 25% of global demand for petroleum products is accounted for by transportation fuels.
MAJOR COMPANIES
Marathon is one of the largest downstream oil and gas wholesalers in the USA. It is responsible for seven refineries and has the "capacity to process about 1.8 million barrels of crude oil a day". Other large-cap stocks in the downstream oil and gas industry are Phillips 66, the Tesoro Corporation, and the Valero Energy Corporation. Important companies in the USA include "Global Partners, Mansfield Oil, Statoil Marketing & Trading (owned by Norway's Statoil), Sunoco (owned by Energy Transfer Partners), and World Fuel Services". However, Exxon Mobile is the world's largest refiner.
NUMBER OF WHOLESALERS
The downstream oil and gas wholesale industry is made up of 6,700 establishments — "single-location companies and units of multi-location companies". These companies run more than 139 refineries combined. The industry has an annual revenue of approximately $500 billion.
CONCLUSION
To wrap it up, there are 6,700 downstream oil and gas wholesalers in the United States, which run a combined total of over 139 refineries and make about $500 billion as an industry each year. The largest of these oil refiners globally is Exxon Mobile.
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