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1. In the oil and gas industry, a company’s operations that involve the last steps in the supply chain (i.e., refining, processing, marketing, distribution). These steps are considered “closest” to the end user, as opposed to Upstream or Midstream operations.

2. In the context of a supply chain, the activities associated with an entity’s goods and services after they are produced – e.g. distribution, sale, use by the customer/client.


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