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Top 10 Companies Revolutionizing Oil & Gas in 2024

The four disruptors shaping the energy landscape (geopolitics, economics, regulatory, and technology) have also impacted the global downstream petroleum sector. This situation is likely further exacerbated by the decline in global refinery capacity, which has shrunk by 4.5 mbpd since 2019, with the United States refining capacity falling by one mbpd since the COVID-19 pandemic due to numerous factors, including the pandemic’s impacts, hurricane damages, weaker future demand forecasts, high operations costs, the inability to complete sales, or conversions to produce more renewable fuels.

The refining industry now faces a pivotal moment, as the industry is producing and bringing to market new products to offset the expected longer-term decline in transport demand for fossil fuels and, thus, adopting even more of a customer-centric or end-market-oriented approach. Therefore, a blend of low-carbon fuel alternatives, from biofuels and hydrogen to chemicals, alongside a redesigned forecourt experience catering to the evolving fuel mix and customer base, is becoming critical to the success of the downstream industry.

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Taking Advantage of Sustainable Energy | ABB Switzerland

Jasmin Staiblin, Chief Executive Officer of ABB Switzerland, says, “Global energy consumption continues to grow and, if left unabated, will lead to an ever-greater risk of irreversibly changing our climate. To take advantage of more sustainable energy sources, the energy landscape is in a state of profound change to allow the integration of increasing amounts of renewable energy sources into the grid, to allow infrastructure to run more intelligently and efficiently, and to ensure the supply of energy is available at all times.

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Offering Limitless Possibilities To The O&G Industry | Advanced Upstream

Today oil and gas producers face severe regulatory and public relations obstacles due to the concern with greenhouse gases and resource depletion. Calgary-based start-up, Advanced Upstream (“AU”), has been disrupting the oil and gas industry with simple and reliable innovative technologies. AU’s products help the oil and gas producers to enhance energy production while reducing the corresponding environmental impact. By decreasing personnel and time on site, and lowering overall HSE risks across the board, the clients can see a notable improvement in their ESG rating, contributing to their bottom line.

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Enhancing Operational Efficiency by Providing Data Insight &Automation | Intelligent WellheadSystems

It’s no secret that oil and gas is a boom-and-bust industry. Production is currently up, projected to increase to 13.7 million barrels daily in 2024. But this won’t last forever. Whether production is up or down, the key to maximizing production, optimizing efficiency, and taking advantage of increased profits is innovation, digital transformation,and automation.For stakeholders looking to deliver safer, more efficient, and cheaper energy, innovation and automation must be a top priority. Those who fall behind in the race to innovate, ultimately, run the risk of losing market share.

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Transforming O&G Sector with AI | AspenTech

engineering, AspenTech, a Massachusetts-based company, plays a pivotal role in the oil and gas industry by leveraging cutting-edge technologies, including AI (artificial intelligence). Let’s delve into how AspenTech contributes to this dynamic sector

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