Impact of the 4th Industrial Revolution on the oil and gas industry
Abstract
The paper analyses the impact of the 4th Industrial Revolution on the oil and gas industry both from a direct and indirect perspective.The world’s oil and gas industry is having the opportunity to apply the scientific and technological advances and achievements of the 4th Industrial Revolution to reduce production costs, diversify products, and implement cleaner, safer and more effective production. However, the 4th Industrial Revolution also requires the oil and gas industry to change the structure, construction and operation of its assets, as well as to face with the rising propensity to use renewable fuels.
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