The oil and gas industry has embraced digitalization over the past few years as a means to effectively manage costs and raise efficiencies in a challenging oil price environment. As industry players seek the next wave of value they’re often finding that the best opportunities lie at the interfaces – leveraging digital capabilities to integrate across the oil & gas value chain and lifecycle, as well as across functional and organizational boundaries. Successfully navigating such pursuits will not only transform how companies develop and operate their oil and gas resources, but also how they engage their customers and business partners. This session will explore where value has been achieved thus far, where it will be created in the future, and what it will take to truly maximize returns.
Although batteries and electric motors are expected to play a major role in the future, there is a wide spectrum of views on how fast the transition from Internal Combustion Engine (ICE) to EVs might be. New technological breakthroughs such as “homogeneous charge compression ignition” may improve ICE efficiency by 20-30%. How will these ICE improvements affect competitiveness with electric vehicles? Could cost parity be delayed by new technology and new business models? How will this impact the penetration of EV and the composition of the car fleet of the future?