Integrated

Integrated

An integrated company is involved in two or more of the stages of production (e.g., both upstream and downstream). Many of the world's largest and most influential oil companies today are integrated oil and gas companies, which have separate divisions for each stage. Being an integrated company allows for complete control and improved efficiency. It also provides for various streams of revenue and diversification. However, due to the very high capital costs involved with oil exploration and refining, barriers to entry are very high for new competitors.