20 April, 2015
Oil and gas supply and demand is a central issue not only to the health of the global economy, but the global ecosystem as well. According to U.N. estimates, 82 million people are added to the earth’s population each year–and all of these people will require affordable energy options.
But supply isn’t the only pressing issue. The energy sector must also find ways to provide options that:
- Are cost-effective for consumers yet allow a decent return for producers
- Help support global energy security without undermining global trade—or the economies of nations critical to the world’s energy supply stability
- Optimize environmental stewardship to balance energy affordability with environmental impacts
The only way to change negative and divisive perceptions of today’s energy market is through the development of a realistic, measured energy strategy—one that recognizes the challenges for all energy sources yet eschews the rhetoric and political posturing by focusing on economics and environmental impacts.
Technology will play a central role in rebuilding plant operations and maintenance strategies so that they revolve around up-to-the-minute data–a key component of remaining competitive. Modern enterprise asset management (EAM) systems track real-time data that is accurate and immediate, enabling decisions about how to operate in the safest, most cost-effective, and most productive way–decisions that will have a profound impact on future growth and profitability. An enterprise resource planning (ERP) system can be used extensively within the upstream oil sector to help manage local variations in language, currency, and business standards in financial management. Other key benefits from an ERP system can be generated from service management, lean manufacturing, quality management, and wholesale distribution.
Learn more about the complexity of meeting the world’s energy needs. Read the industry perspective paper: “Outlook for oil and gas supply and demand in a global energy context.”