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JAMB Economics 2008 Question 40

Question 40

Natural Resources and Petroleum

The activities in the oil and gas industry are classified into

  1. A.exploration and transportation
  2. B.upstream and downstream
  3. C.discovery and extraction
  4. D.onshore and offshore
Show the answer and explanation

Answer: B (upstream and downstream)

Explanation

The oil industry is divided into upstream (exploration and production) and downstream (refining, distribution and marketing).