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The next industrial revolution in oil and gas

Where operational efficiency is the new normal

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During the years that crude oil surged beyond USD 100 per barrel, oil companies made fabulous profits without having to be particularly smart, efficient or innovative. That’s all changed. Between 2014 and 2016, a global glut in supplies and fear of market-share loss sent oil futures into free fall, and the price per barrel was slashed roughly in half.1 And even though oil prices are expected to gain traction in 2018, oil companies cannot rely on the bygone, long-term luxury of higher prices.2 Instead, they must embrace new types of technology to create a new normal.

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The IBM chemicals and petroleum industry team designs and implements solutions for chemicals as well as oil and gas companies. We help these companies turn information into insights that enhance exploration and production, refining and manufacturing efficiency, global trading, risk management, and operations in real time.

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Digital transformation reshapes the oil and gas industry

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Meet the Authors:

Bernhard te Woerd

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, European Focal Point IoT, Chemicals & Petroleum, IBM Global Business Services,
Keimpe Nevenzeel

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, Strategy and Analytics Consultant, IBM Services,
Ronnie Chan

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, Predictive Analytics Solution Architect, IBM Analytics,
Cameron Wilkinson

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