Over the past decade, the oil and gas industry has experienced numerous shifts and fluctuations, along with extreme volatility in oil and gas prices. A combination of erratic commodity price fluctuations, ambiguity about the future of fossil fuels, and increasingly contentious trade negotiations around the world are upending traditional supply and demand fundamentals in the oil and gas industry. In this scenario, executives must find new ways to maintain competitiveness and growth. In this blog, experts at Infiniti have identified some of the key trends that oil and gas companies must watch out for. CIOs who understand these oil and gas industry trends can take advantage of them to enable breakout performance that will differentiate them and their organizations in the years ahead.
CIOs must keep a constant watch on the oil and gas industry trends in order to innovate their processes before their counterparts in the market. Request a free proposal to know how Infiniti can help CIOs become agile innovators.
Oil and gas industry trends 2019
Transparency and automation
Operational transparency is only now beginning to become an industry reality and one of the widely followed oil and gas industry trends. It provides organizations in the oil and gas industry with more visibility into operational performance and also gives them the ability for effective and rapid decision-making. Furthermore, fieldwork is expected to become less hazardous and less expensive. CIOs can expect to see large-scale assets such as offshore oil rigs operate autonomously without any human intervention.
Oil and gas organizations are aggressively moving to programs that redesign the future of work.