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ARC recently developed a report Winners and Losers from Declining Oil Prices, What Does the Future Hold? (clients can access complete report) in which we highlighted the overall impact of lower oil prices and identified the benefactors of low oil prices and also discussed some of the severe pain being felt in the upstream oil & gas segment as well as some countries dependent on exporting oil. The report mentioned that ARC believes that the net overall impact of declining oil prices should benefit most global economies through increased activity. However, owner-operator companies involved solely in the upstream oil & gas segment need to make every possible effort to reduce unnecessary costs, invest in cost-saving automation technologies and Industrial Internet of Things (IIoT)- enabled solutions, and be willing to continue to “tough it out” until volatile oil prices stabilize and eventually recover to more realistic levels.
For those that have been following this blog over the last ten months or so, we have blogged about ARC’s zealous belief that companies should invest in IIoT-enabled solutions to lower their cost per boe, increase production, improve collaboration in the internal and external ecosystems, help develop new service revenue streams and help to maintain some level of profitability in the face of an increasing number of bankruptcies, mergers and acquisitions, record low rig counts, and layoffs reaching 300,000 and counting. We even blogged about how leveraging wearable technologies can help companies, including BP, to improve operational efficiencies, help increase safety, and/or improve collaboration.
This author looks forward to continuing to blog about how IIoT-enabled solutions can help companies in all types of industries, but especially the upstream and midstream oil & gas segments. We are interested in learning about how, where, and why (even if why not) you may be considering deploying IIoT enabled solutions in your operations.
For those that have been following this blog over the last ten months or so, we have blogged about ARC’s zealous belief that companies should invest in IIoT-enabled solutions to lower their cost per boe, increase production, improve collaboration in the internal and external ecosystems, help develop new service revenue streams and help to maintain some level of profitability in the face of an increasing number of bankruptcies, mergers and acquisitions, record low rig counts, and layoffs reaching 300,000 and counting. We even blogged about how leveraging wearable technologies can help companies, including BP, to improve operational efficiencies, help increase safety, and/or improve collaboration.
This author looks forward to continuing to blog about how IIoT-enabled solutions can help companies in all types of industries, but especially the upstream and midstream oil & gas segments. We are interested in learning about how, where, and why (even if why not) you may be considering deploying IIoT enabled solutions in your operations.