Intelligent Trading Platform is designed to bring a one-stop-shop for all data requirements for Refinery (& Petrochemicals) traders. The platform brings many digital solutions under the single platform to support the traders for their daily needs, bring up speed, remove repetitive manual activities, and augment the trader's market visibility with AI-enabled solutions
Oil field services and drilling services companies shall include digitalization of SOPs as a key agenda in digital transformation strategy. In absence of COTS SW products to fulfil the needs, companies need to engage appropriate capabilities, choose best suitable enterprise mobility platform and define roadmap for SOP digitalization across different disciplines.
Digitalization of upstream oil & gas industry is advancing towards providing solution at the Edge. With increasing growth of available connectivity, advent of new sensors and incorporation of AI/ML models at the Edge, Oil & Gas operator companies now have the possibility to process and get useful insights from data residing in close proximity to equipment assets.
Considered being the biggest sector in the world in terms of dollar value, the oil and gas sector is a global powerhouse using hundreds of thousands of workers worldwide and generating hundreds of billions of dollars globally each year. In regions which house the major NOCs, these oil and gas companies are so vital they often contribute a significant amount towards national GDP. In this introduction to the oil and gas industry, we provide a snapshot of the petroleum sector.
Learn About The Three Key Sectors In Oil And Gas, The Current State Of The Industry And Future Outlook
What is upstream? – Upstream is E&P (exploration and exploration). This involves the search for underwater and underground natural gas fields or crude oil fields and the drilling of exploration wells and drilling into established wells to recover oil and gas.
What is midstream? – Midstream entails the transportation, storage, and processing of oil and gas. Once resources are recovered, it has to be transported to a refinery, which is often in a completely different geographic region compared to the oil and gas reserves. Transportation can include anything from tanker ships to pipelines and trucking fleets.
What is downstream? – Downstream refers to the filtering of the raw materials obtained during the upstream phase. This means refining crude oil and purifying natural gas. The marketing and commercial distribution of these products to consumers and end users in a number of forms including natural gas, diesel oil, petrol, gasoline, lubricants, kerosene, jet fuel, asphalt, heating oil, LPG (liquefied petroleum gas) as well as a number of other types of petrochemicals.
The world’s dependence on oil and gas is increasing as global economies and infrastructure continue to rely heavily on petroleum-based products. Discussions of when world oil and gas production will peak seem to be on the periphery, even amid a weakened global economy and the shrinking availability of oil. The oil and gas industry continues to wield incredible influence in international economics and politics – especially in consideration of employment levels in the sector, with the U.S. oil and gas industry supporting at least 10 million jobs.
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