Ones and zeroes
Oil executives will have to invest in their digital futures in 2018 to keep up
The digital tidal wave is here. Whether it's monitoring home energy consumption using smart meters, remotely recording a TV programme on the set-top box at home while at the office, or hailing a cab using Uber, digital has already profoundly affected the way we live, work and interact with others. The oil sector is no different. Although some firms pioneered digital techniques in the upstream 15 years ago, the industry as a whole has lagged others. Digital providers are bombarding firms with bright ideas to apply across their value chain, from exploration to refining to logistics to retail. But few ideas have matured into a sustainable and scalable global solution. Innovative petroleum firms
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US LNG exporter Cheniere Energy has grown its business rapidly since exporting its first cargo a decade ago. But Chief Commercial Officer Anatol Feygin tells Petroleum Economist that, as in the past, the company’s future expansion plans are anchored by high levels of contracted offtake, supporting predictable returns on investment
