"Upstream": 1. In relation to guarantees, an upstream guarantee is one given by a subsidiary company in relation to the obligations of its parent company. 2. An upstream loan is a loan made by a subsidiary company to its immediate or ultimate parent company. 3. In the oil and gas industry the upstream business refers to finding and extracting crude oil and gas. Contrasted with the downstream business of distribution and sales of refined and synthetic oil and gas products.
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