... converting physical objects or attributes into digital form. Digitization is one of the basics and it is more about connecting the physical world to a software. Digital transformation is simply business transformation enabled by digitalization. The oil and gas industry has played a vital role...

... to come. Recent McKinsey research 2 estimates that the oil and gas industry's operations directly amount to around 9% of global greenhouse gas (GHG) emissions and as a result, the industry must play a central role in leading the march towards decarbonization and in accelerating the energy transition...

... emissions by 21 GT8. The oil and gas industry will play a key role in making this a reality. One of the core pillars of the energy transition is to increase electricity s share of energy consumption. How that electricity is produced is fundamental to the success of the transition. A failure to decarbonize...

.... At the same time, the sector is crucial for Canada's growth, accounting for 5% of its GDP and generating employment for several thousands. It is then no surprise that the industry is under tremendous pressure to produce energy with reduced emissions. AI plays a pivotal role in helping the oil and gas...

... equity portfolio or loan book" ( Ratner and Blanton 2020 ). The Role of Artificial Intelligence New technologies may offer the best avenue for oil and gas companies to reduce their carbon emissions and meet those neutrality goals. Recent research into the decarbonization of energy has found...

... emission reductions, thus compounding the challenge for them to publish targets. The oil and gas sector’s role in addressing long-term emissions is further complicated by the projected continued rise of global energy demand. The International Energy Agency (IEA) projects global energy demand to be 30...

... capture, utilization, and storage (CCUS) could all be potential areas for the oil and gas industry to achieve leadership roles. The key for the industry is to incorporate a digital and social transformation in parallel with sustainability to achieve leadership role. Companies cannot continue to operate...

... those COâ‚‚-intensive sectors within the oil and gas industry and other industries that are difficult to decarbonize using renewables. There are different types of hydrogen classified based on colour and production process/utilization namely: Blue hydrogen? Blue hydrogen is when natural gas...

... credit or other type of subsides. It is clear from the MACC analysis conducted based on global benchmark data of Renewables, batteries cost, gas and oil prices and others; that the decarbonization towards net zero emission will not come for free. Billions of Dollars will have to be spent for two main...

... on the importance the private sector's role to step up and contribute to energy transition. The oil and gas industry, historically, has applied carbon counting as a means of concept determination during the early design phases, and, further, as energy opimisation studies, later in design or during operations...

... and businesses to support the implementation of their policies. It is clear from this Maps that the industry of oil and gas has the potential to have both advantages and disadvantages on many of the SDGs. Oil and gas firms can play an important role in achieving the Sustainable Development Goals (SDGs...

... a digital strategy: Learning from the experience of three digital transformation projects . California Management Review , 62 ( 4 ), pp. 37 – 56 . Desai , J.N. , Pandian , S. and Vij , R.K. , 2021 . Big data analytics in upstream oil and gas industries for sustainable exploration...

... competencies for the job role they will occupy ( 7 ). On the horizon of Oil and Gas Industry Challenges As major international summits such as the G20 summit and the COP repeatably emphasized on the attention to the continually rising environmental challenge of climate change impacting the globe...

... low carbon projects. While the opportunities are immense, the Gas & Oil PMO must ensure projects’ fit with the business strategy and energy transition roadmap, while selecting the best and cost optimal technology keeping in mind future decarbonization trends. As such, the role of PMO needs...

... with economic impact on emissions from hydrocarbon production will be progressively adopted. This is triggering oil and gas (O&G) attention to find faster and economic ways to decarbonize while maintaining operational performance. Several types of initiatives are being considered including the reduction...

... will not be sufficiently fast to meet the Paris Agreement's target of limiting the global temperature increase to well below 2°C within this century. In this context, looking at the oil and gas sector it can be observed how companies are already acting to secure their role in the energy transition towards a lower carbon...

... agenda. CONTENTS Executive summary1 Chemicals are gaining importance for oil and gas companies4 Strategic transformation of chemicals business is ongoing and inevitable5 The carbon neutrality transformation5 Hydrogen economy and the role of the chemicals industry7 The circular economy transformation9...

... fuels to net-zero carbon. Hydrogen is set to play a significant role in decarbonizing various industries over the next decades, unlocking new opportunities for companies to create a new hydrogen collaborative economy. Accenture analysis has focused on the hydrogen demand and supply of EU countries...

... Abstract As supplier to residential, industry, power and transportation sectors, the oil and gas industry is heavily affected by developments in these sectors. In the European power markets, natural gas fired stations are currently challenged by changing demand and supply patterns. Power...