The oil and gas industry is being molding because of the dramatic changes in demand and initiating new technologies. Growth in demand is shifting to the Middle East, Asia, and Africa economies and away from North America and Europe. Clever technologies such as multi-stage hydraulic stimulation and horizontal drilling have been unlocking trap resources. As well as transforming the U.S. from one of the world’s largest buyers of crude oil and gas to one of its largest sellers.
The digitization may perhaps be felt like it only a matter of time before the effects of digital innovation are been felt in oil and gas. What is uncertain is the degree of impact and the nature of the impact.
The oil and gas industry can also witness the effects of digital technology directly in the business. Indirectly through the adoption of digital technologies in other sectors. For example, as 3D printing improves as a technology, suppliers will offer high-quality 3D printed parts for oil and gas equipment. It shortening the time to repair, lowering costs, and accelerating the time to value for resource production.
Printing a part locally reduces greenhouse gas emissions through a reduction in shipping costs. Applied across manufacturing globally, 3D printing could transform entire supply chains while simultaneously delivering a reduction in fuel consumption.
Digitizing Fuel Delivery
Different responses to digital technology may be acceptable depending on where in the value chain a company contributes participation. A technology company selling software or SCADA systems to Greenfield oil installations can have to be compelled. In order to respond quickly to this technology than a pipeline operator that has long contracts and a captive market.
Fuel-selling as a phase has not materially changed since the arrival of payment systems at fuel pumps. But new apps that permit customers to prepare for fuel delivery directly to their car may render convenience stores obsolete.