Future of the Oil and Gas Industry: Balancing Uncertainty and Net Zero Goals While Seeking Profitability
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The oil and gas industry is facing the energy trilemma - finding the right balance between sustainability, reliability and affordability. They’re dealing with the pressure to reduce greenhouse gas (GHG) emissions and to achieve the goals of the Paris Agreement, while still meeting growing global demand. Operators are looking to make the right investments in carbon management strategies and digital solutions for efficiency and productivity.
Key takeaways from this latest article include:
- In the near future, the O&G industry will have to contend with geopolitical and macroeconomic fluctuations and growing energy demand amid potential surplus shortages
- While many large O&G companies have started major investment in carbon capture and other carbon reduction strategies, much more is still needed
- 2023 could be the year to advance investment in technologies to accelerate the energy transition, including improving efficiency in legacy operations, accelerating renewable diversification, and investing in GHG reporting and optimization
The aritcle also discusses how TotalEnergies and YPF are leading the path and realizing the benefits of digitalization investment.
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