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Oil And Gas Industry Future Outlook Pdf

oil and gas industry future outlook pdf

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Published: 23.12.2020

Oil examines the key issues in demand, supply, refining and trade to Oil looks at the interplay between the expanding US influence in global oil supply and the demand from Asia for exports from the Middle East. At the same time, global energy transitions are affecting the oil industry: companies must balance the investments needed to ensure sufficient supplies against the necessity of cutting emissions. In a decarbonising world, refiners face a big challenge from weaker transport fuel demand. The outbreak of the new coronavirus COVID has added a major layer of uncertainty to the oil market outlook at the start of the forecast period covered by this report.

Oil & Gas Industry in India

Across industries, CEOs are realizing the importance of agility in sustaining and growing their business. More than half acknowledge agility as the new currency of business and that growth relies on the ability to challenge and disrupt business norms. Despite this realization, just under half of global CIOs feel their organizations are better than competitors at responding to changes in the business environment. We see a similar perspective from CIOs regarding time to market for new products and services, indicating a lag in building agility into the fabric of the enterprise and IT.

As global geopolitical activities drive uncertainty and volatility in commodity prices, oil and gas CIOs continue to be seen as critical to enabling the business to deliver at potentially depressed prices with ongoing reductions to IT cost.

In their role as a strategic enabler to the business, CIOs are delivering those cost savings through operational efficiencies and automation. With increasing pressure to reduce carbon emissions and drive renewables, the critical role of technology in Oil and Gas is only getting bigger. The CIOs in the oil and gas sector who will emerge as digital leaders are those who can rapidly deploy new technology and capability into the enterprise, at a low operational cost.

The ability for enterprises to navigate disruption and manage agility is dependent on technology modernization and an enabling operating model. Oil and gas CIOs who are realigning technology delivery to business strategy with full stack portfolios defined by the speed at which they need to deliver are emerging as the digital leaders in an agile world.

Oil and gas companies remain more focused on cost cutting and operational efficiency than other industries and the data indicates a strong desire to improve business processes via, or in conjunction with, technology.

We see increased interest in automation opportunities within the oil and gas sector, but similar to other industries, the degree to which automation has been implemented is still limited.

And while agility and innovation lag slightly behind other industries they are still recognized as important areas for growth and keys to success. In oil and gas, however, the extent to which management is looking for IT to develop innovative new products and services is less than other industries. We see this as a key opportunity area for industry CIOs to pivot how IT leads, supports and integrates with the business. While oil and gas companies continue to lead other industries in deploying new technologies across functions and geographies, all industries are seeing limited to moderate success in bringing a long-term product mind set to technology implementations and increasing the overall speed of project delivery.

There is much less tolerance for this within oil and gas. This is on par with other industries but oil and gas sees a significantly larger shortage in business analysis skills. Similar to other industries, confidence is high that new jobs will more than compensate for jobs lost to AI. The majority of respondents across all industries have not had a major IT security attack but cyber risk remains a top priority.

Oil and gas CIOs lag slightly behind other industries in building customer trust through services delivered, and improving that will be critical to increasing the value perception of IT. Today, IT must advance the business, not just support it, with boards increasingly expecting returns on digital investments and the implementation of successful digital transformation strategies that will drive up agility, responsiveness and enhance the customer experience.

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Please take a moment to review these changes. You will not receive KPMG subscription messages until you agree to the new policy. Ignore and log out. Share close. Delivering value at speed While oil and gas companies continue to lead other industries in deploying new technologies across functions and geographies, all industries are seeing limited to moderate success in bringing a long-term product mind set to technology implementations and increasing the overall speed of project delivery.

Customer trust The majority of respondents across all industries have not had a major IT security attack but cyber risk remains a top priority. Kimberly M. Save, Curate and Share Save what resonates, curate a library of information, and share content with your network of contacts.

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Impelled Digitalization or Oil and Gas Industry Outlook 2021 and Beyond

Considered being the biggest sector in the world in terms of dollar value, the oil and gas sector is a global powerhouse using hundreds of thousands of workers worldwide and generating hundreds of billions of dollars globally each year. In regions which house the major NOCs, these oil and gas companies are so vital they often contribute a significant amount towards national GDP. The energy sector has three key areas: Upstream , midstream and downstream. The largest volumes of products of the oil and gas industry are fuel oil and gasoline petrol. Petroleum is the primary material for a multitude of chemical products, including pharmaceuticals, fertilisers, solvents and plastics. Petroleum is therefore integral to many industries and is of critical importance to many nations as the foundation of their industries. The world's dependence on oil and gas is increasing as global economies and infrastructure continue to rely heavily on petroleum-based products.

oil and gas industry future outlook pdf

our outlook for the oil and gas industry. Given the disruption and impact caused by COVID, we've evaluated the key trends, challenges.


The Oil and Gas Industry in Energy Transitions

Oil and gas sector is among the eight core industries in India and plays a major role in influencing decision making for all the other important sections of the economy. The Government has adopted several policies to fulfil the increasing demand. India is expected to be one of the largest contributors to non-OECD petroleum consumption growth globally. India retained its spot as the third largest consumer of oil in the world in with consumption of 5.

The oil and gas industry has always been erratic. Prices went up and down, energy suppliers were approved and sanctioned, and often when all that happened, monies were quickly made and lost. This year can be reasonably called a year of multi-pronged disruption. First, there was a global oversupply, later we saw a sharp slump in demand caused by the COVID outbreak, and finally, a social calling to provide a good response to global warming. All these challenges have heralded massive changes and accelerated the inevitable digital transformation in oil and gas.

Across industries, CEOs are realizing the importance of agility in sustaining and growing their business. More than half acknowledge agility as the new currency of business and that growth relies on the ability to challenge and disrupt business norms. Despite this realization, just under half of global CIOs feel their organizations are better than competitors at responding to changes in the business environment. We see a similar perspective from CIOs regarding time to market for new products and services, indicating a lag in building agility into the fabric of the enterprise and IT.

World’s fastest-growing energy market

Она хотела только одного - поскорее уйти. Стратмор на минуту задумался. - Не спрашивай меня, как это случилось, - сказал он, уставившись в закрытый люк.  - Но у меня такое впечатление, что мы совершенно случайно обнаружили и нейтрализовали Северную Дакоту.  - Он покачал головой, словно не веря такую удачу.  - Чертовское везение, если говорить честно.

Он обладал почти сверхъестественной способностью преодолевать моральные затруднения, с которыми нередко бывают связаны сложные решения агентства, и действовать без угрызений совести в интересах всеобщего блага. Ни у кого не вызывало сомнений, что Стратмор любит свою страну. Он был известен среди сотрудников, он пользовался репутацией патриота и идеалиста… честного человека в мире, сотканном из лжи. За годы, прошедшие после появления в АНБ Сьюзан, Стратмор поднялся с поста начальника Отдела развития криптографии до второй по важности позиции во всем агентстве. Теперь только один человек в АНБ был по должности выше коммандера Стратмора - директор Лиланд Фонтейн, мифический правитель Дворца головоломок, которого никто никогда не видел, лишь изредка слышал, но перед которым все дрожали от страха. Он редко встречался со Стратмором с глазу на глаз, но когда такое случалось, это можно было сравнить с битвой титанов.

Но нам известно, где. - И вы не хотите ничего предпринять. - Нет. Он подстраховался - передал копию ключа анонимной третьей стороне на тот случай… ну, если с ним что-нибудь случится. Это можно было предвидеть, - подумала Сьюзан.

 Действительно.  - Клушар вздохнул с видом мученика, вынужденного терпеть всякий сброд.  - Вы когда-нибудь видели что-либо более ужасное, чем это место? - Он обвел глазами палату.

Он не мог поверить, что дожил до подобной катастрофы. Он отдал распоряжение вырубить электропитание, но это все равно произойдет на двадцать минут позже, чем следует. Акулы со скоростными модемами успеют скачать чудовищные объемы секретной информации через открывшееся окно. Из размышлений об этом кошмаре его вывела Соши, подбежавшая к подиуму со свежей распечаткой. - Я кое-что нашла, сэр! - возбужденно сказала .

Вроде бы на нижней ступеньке никого. Может, ему просто показалось. Какая разница, Стратмор никогда не решится выстрелить, пока он прикрыт Сьюзан.

Introduction to Oil and Gas Industry

2 Comments

  1. Benny R.

    31.12.2020 at 13:40
    Reply

    The impact of the crisis is, however, expected to have repercussions on the medium-term growth potential, resulting in about 75 bcm of lost growth over the forecast period, to

  2. Mary R.

    31.12.2020 at 16:20
    Reply

    We see five trends that may challenge the traditional way of operating and working, determine the direction of the industry, and start separating.

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