Oil and Gas Pain Points

Goals

To provide pain points/major challenges for the oil and gas industry.

Early Findings

Reducing Costs

  • According to a report by Veolia, "producing crude oil and refined products at a lower cost to stay competitive on the market is one of the industry’s major challenges."
  • The oil industry's current priority is to optimize production efficiency to reduce costs.

Improving Performance

  • According to Veolia, oil companies are compelled to "seek new sources of oil or gas for which extraction, transport, and refining are much more complex and costly" for them to sustain their supply.

Improving Environmental Footprint

  • The oil and gas industry is subject to strict environmental regulations because it is a "major consumer of water and energy resources."
  • According to Veolia, these stringent standards "constrains them to rethink extraction, production, and distribution methods in order to obtain or maintain their license to operate."

Proposed next steps:

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