To familiarize everyone with key socioeconomic terms and concepts, we have this new social media series.
For this week, our buzzword is “downstream oil industry".
It refers to the sector of the oil and natural gas industry that refines, distributes, and sells petroleum products from upstream operations (i.e., exploration, drilling, extraction).
Source: Energy Education
A PIDS study recommended measures for the government and the Philippine downstream oil industry to respond to globally rising oil prices. Retail price unbundling may be done to promote transparency and fair pricing. Targeted subsidies may be provided to vulnerable sectors. Oil stockpiling, diversifying energy sources, and implementing energy conservation and energy efficiency programs may help manage supply and demand.
Know more about the downstream oil industry by reading “On the OPSF and the Downstream Oil Industry Deregulation: Lead Us Not into Reversal Temptation and Deliver Us from Obfuscation” available at https://pids.gov.ph/publication/discussion-papers/on-the-opsf-and-the-downstream-oil-industry-deregulation-lead-us-not-into-reversal-temptation-and-deliver-us-from-obfuscation.
