Oil & Gas
Oil and natural gas industries are sources of primary fuel, playing a crucial role in the global economy. They account for over the half of the global energy consumption. Petroleum is used not only as fuel for transportation and power generation but also as a feedstock for various industries. It serves as an input for manufacturing plastics, chemicals, rubber, pesticides, and other products. Despite the ongoing energy transition, the oil and gas industry is expected to sustain its major role in the energy landscape globally in the future.
Volatile energy prices, concerns on energy security, geopolitical challenges, as well as growing environmental concerns related to the use of fossil fuels impose challenges on the oil and gas industry. These trends transform existing business models in the industry, requiring companies to invest in new technologies. In light of the pressure from governments and industry, the key efforts of the sector are focused on reducing the carbon footprint throughout the value chain, as well as preserving biodiversity. In their sustainability actions, oil and gas companies engage in carbon capture and storage (CCS), hydrogen and LNG projects and invest in technologies to provide products with a lower carbon impact.
With our expertise in the sector, we support our clients in answering relevant questions, such as:
- How do oil and gas companies address concerns about climate change and what are their ESG targets?
- What are the revenues and profit margins in the industry?
- What partnerships and joint projects do oil companies engage in to provide sustainable solutions?
- In which digital solutions do oil and gas companies invest in?
- Who are the key equipment suppliers to the oil and gas industry and what is their strategy?
