Integrated Oil and Gas

This group collects Energy sector members whose business spans the full oil and gas value chain, exploration and production together with refining, marketing and often distribution, under one company: the multinational supermajors, and the many national oil companies wholly or majority owned by a state government, whose own mandate typically covers the entire value chain from the wellhead to the retail pump. It is the largest group in this subcategory, reflecting how many of the world's largest energy companies, especially state owned ones, are organized as a single vertically integrated business rather than separated into upstream and downstream companies. It is kept apart from Oil and Gas Exploration and Production and Oil and Gas Refining and Marketing, each reserved for a company whose own business is concentrated at one end of that chain rather than spanning it.