December 2018

Columns

Digital: Seize the benefits of digitalization

Digitalization has been making waves in the energy space, with upstream companies leading the trend with technology that improves efficiency, cuts costs and boosts margins.

Broadbent, M., Wood Mackenzie

Digitalization has been making waves in the energy space, with upstream companies leading the trend with technology that improves efficiency, cuts costs and boosts margins. Wood Mackenzie’s thought leadership report, “Laggard or leader? Digitalization in the energy and natural resource sectors” addressed what is fast becoming one of the most important topics in the industry. In the refining sector, the news has been quieter, but refiners continue to develop new opportunities. Because of the lower margin environment in which refiners operate, digitalization has been ongoing for years, mainly concentrated in process controls. These developments have, over the last 30 yr, transformed largely an

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