An excellent post from Mike Riegel talks about how things have changed between the Tech industry and the Oil and Gas Industry over the past 20 years. The conversations he once had with his father-in-law who was at Mobil Oil have changed dramatically since the nineties. Oil companies are now ‘Digitizing':
- The Digital Age has come to the Oil industry, and despite the current downturn, the most visionary companies will have the opportunity to transform their business models for future growth.
- The recently released report: “A New Reality for Oil & Gas – Complex Market Dynamics Create Urgent Need for Digital Transformation” makes it clear that the move to a Digital Business and the adoption of Internet of Everything is the way forward for the industry and for the global economy.
- IT and OT (Operational Technologies, sometimes called Automation Control Systems/ACS or Industrial Control Systems/ICS) need to become more aligned out of their silos.
- Biggest issue the industry faces is the ‘data-deluge’ – there’s a need to do deal with sensor and other data both in real-time at the source (usually the edge of the network) and that stored away in huge historians. Analysis of historical and real-time data is an imperative.
- The US is well positioned to be the ‘swing-producer’ in the market as a result of their agile adoption of IoE, and the successful companies will take advantage of the market dynamics to invest, whilst others will cut costs, investments and retrench, falling behind. This week at CERAWeek we’ll hear from Marcel Cappetti about that (Wednesday at 11:20 AM).
Check out the full post from the IoE Blog channel here:
20 Years Hence – What Do Oil, Dating, Digital, and Analytics Have In Common?
Mike will no doubt get feed back from his father-in-law this weekend and hopefully we’ll get a report back!
As always, let us know what you think!
Tags: A New Reality for Oil & Gas, a new reality for oil and gas, CERAWeek, IoE, IoT, Marcel Cappetti, Mike Riegel, oil & gas, oil and gas
This is a big week for the global energy industry, as thousands of energy leaders, experts, technologists, and policymakers gather in Houston, Texas, for the 34th annual CERAWeek conference, the premier international event for the industry. As a corporate sponsor of the event, it’s also a big week for Cisco.
Just last week, Cisco released a new report focused on the need for digital transformation in the oil and gas industry. Based on a survey of oil and gas executives, analysts, and consultants in 14 countries, the paper validates CERAWeek’s “oil day” theme, “Turning Point for the Oil Industry.” For forward-thinking oil and gas companies, the price volatility and turbulence in the market could represent a turning point toward true digital transformation. Read More »
Tags: analytics, CERAWeek, Cisco, collaboration, cybersecurity, digital, Disruption, IIoT, Internet of Everything, IoE, IoT, IT-OT convergence, oil and gas, oil prices, operational technology, OT, transformation
If you could look into the future and get information about when your car might break down, or your water heater leak, you would probably find it very helpful. The information would allow you to take care of any potential problems before they actually develop. Many industries are now taking advantage of this kind of predictive knowledge, made possible by sensor technology, which allows for remote monitoring of assets. Read More »
Tags: CiscoFocus, Connected Energy, Energy, InternetofEverything, IoE, IoT
From my home in North Carolina to San Diego, to Atlanta and all the way to Greater China—Shanghai, Shenzhen and Taipei—throughout April, I am presenting at several Manufacturing industry, Supply Chain executive, and Internet of Things (IoT) regional events, along with visiting all types of manufacturing customers. Earlier this month, I was at a customer advisory where we met with industrial thought leaders eager to share experiences (see Tony Shakib’s blog, “The Digital Factory: Real Solutions and Real Outcomes”). In the meantime, several of my colleagues exhibited Cisco industrial solutions this past week at Hannover Messe in Germany. Across the globe, manufacturers are wrestling with how to capture the opportunity and value associated with IoT and Internet of Everything (IoE) strategies. The good news is that the industry is thriving, alive and well and at the forefront of IoT adoption.
At the IoT Regional Forum in Atlanta last week, I had the opportunity to meet some manufacturing companies from the region and hear first-hand the challenges and address questions they had regarding automation and networking and the convergence of IT and OT, from technology to culture to organization. What I hear repeatedly are questions on how to tie together the various islands of automation and information that exist throughout most factories and across manufacturing enterprises. In addition, the lack of one integrated view results in delayed decision-making and responses to issues and problems that arise, and inhibit the introduction of new products and business models.
Often, we will assist our industrial customers with this IT/OT convergence by recommending a pilot or proof of concept approach to adopt wired-and-wireless networking architectures for use cases that demonstrate quick results and impact, and then more broadly adopt the technology across that and other plants within the enterprise. Interestingly, ARC analyst Greg Gorbach recently wrote up a blog proposing a “Let’s Just Try it” approach in profiling our customer Stanley Black and Decker.
Read More »
Tags: Cisco Connected Factory, Hannover Messe, Internet of Everything, internet of things, IoT, IT/OT convergence, Manufacturing
How often do you think about the linkage of today’s digital Internet technologies with the gas that we put into our cars and the fuels that heat our homes? Probably not very often. In fact, for many years, I envisioned them as two separate worlds. Here’s why…
Back in 1995, when I met my wife and we were first dating, I distinctly remember talking with her father (now my favorite father-in-law!) Bill Dalgetty about his career at Mobil Oil. Like most senior Mobil executives, Bill started his career at a Mobil gas station and worked his way up over many years, eventually serving as the General Manager of Environment, Health and Safety for Mobil’s operations around the world. Read More »
Tags: CERAWeek, Cisco, Cisco Consulting Services, data analytics, digital disruption, Digital transformation, IIoT, Internet of Everything, IoT, IT/OT convergence, Mike Riegel, oil