2016 was a challenging year for the Oil & Gas industry. Rampant supply, a weakening global demand, the slowing economic growth around the world were a few factors leading to the woes seen. However, these challenges for the industry present some excellent opportunities. Innovation has never been more critical in the oil and gas industry. The writing on the wall is clear; companies must innovate, or perish!
Oil and gas companies continue to explore new avenues to optimize exploration, production and crude processing. Logistics is the backbone of any oil and gas company, and is an area where continuous innovation is imperative for the company to remain competitive.
This report presents about the top five innovations for cost optimization in upstream logistics in the oil and gas industry.