LONDON--(BUSINESS WIRE)--A well-known market intelligence company, Infiniti Research, has announced the completion of their latest article on a CIO’s guide to oil and gas industry trends. CIOs who understand these oil and gas industry trends can take advantage of them and enable breakthrough performance that will differentiate them and their organizations in the years ahead.
The oil and gas industry has experienced numerous shifts and fluctuations, along with extreme volatility in oil and gas prices over the past decade. The erratic commodity price fluctuations, ambiguity about the future of fossil fuels, and increasingly contentious trade negotiations around the world are upending traditional supply and demand fundamentals in the oil and gas industry. In this scenario, executives must find new ways to promote competitiveness and growth.
CIOs must keep a constant watch on the oil and gas industry trends in order to innovate their processes before their peers in the market. Request a free proposal to know how Infiniti can help CIOs’ in the oil and gas industry become agile innovators.
Oil and gas industry trends 2019
Transparency and automation
Operational transparency is slowly beginning to become an industry reality and will soon be one of the widely followed oil and gas industry trends. With this, organizations in the oil and gas industry with have more visibility into operational performance and also gives them the ability for effective and rapid decision-making. Furthermore, it would make fieldwork less hazardous and less expensive. If this continues, CIOs can expect to see large-scale assets such as offshore oil rigs operate autonomously without any human intervention.
Leveraging digital resources
It is vital for CIOs to strike a balance between leveraging digital resources for better business resilience and supporting on-demand resources and scalable technologies in an effort to make cost structures of the business more scalable. CIOs of oil and gas companies who want to enhance their business resilience in volatile markets must find ways to keep their operating models more responsive.
Oil and gas organizations are aggressively moving to programs that redesign the future of work. Get in touch with our experts to know more about the transformations in the sector.
CIOs as change agents
Bringing digital transformation to full scale in the oil and gas industry could prove to be highly challenging for CIOs’. Some of the key barriers faced include fragmented data management, lack of relevant team skills, and weak coordination across silos. Although embracing change is paramount for success in the long run, CIOs in most oil and gas companies are yet to realize the importance of embracing change.
Learn more about oil and gas industry trends, opportunities, and challenges. Request for more information.
About Infiniti Research
Established in 2003, Infiniti Research is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to help analyze competitive activity, see beyond market disruptions, and develop intelligent business strategies. To know more, visit:https://www.infinitiresearch.com/about-us