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3rd MPU

Oil and gas outlook set to be dominated by geopolitics and supply chain dynamics this year

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The oil and gas industry has witnessed a considerable upheaval in its supply chains amid the protracted Russia-Ukraine conflict and renewed tensions in the Middle East. Both of these conflicts could potentially disrupt global oil and gas supplies in 2024, and hence, the themes of geopolitics and supply chains are the hot topics for this year.

It is therefore important for the oil and gas industry to assess the impact of these themes while charting out their growth plans, says GlobalData.

GlobalData’s thematic report, “Top 20 Oil & Gas Themes 2024,” reveals the leading themes that could have a significant impact on oil and gas operations in 2024. Energy security concerns are expected to be the major driver for the oil and gas trade in 2024. Furthermore, the pace of the global transition towards clean energy is likely to be slow in 2024, as several countries are confronted with issues of energy security and inflation.

Ravindra Puranik, Oil and Gas Analyst at GlobalData, said: “The fallout of the Russia-Ukraine conflict has resulted in the restructuring of global energy supply chains in the last two years. Moreover, global energy markets must also have to contend with rising tensions in the Middle East. Thus, geopolitics and supply chain dynamics will impact the decision making of oil and gas companies in 2024.”

The report also puts emphasis on the ESG theme and the themes contributing to the global energy transition. Within ESG, the environment and social aspects of oil and gas operations are the focal point of discussion as they are important for long-term sustainability. Newer industry themes that support the energy transition towards zero-emission technologies, such as renewables, low-carbon hydrogen, carbon capture and storage (CCS), and electric vehicles (EV), are evaluated for their potential impact on the oil and gas business in 2024.

Puranik continued: “Profitability is expected to be critical for driving the financing of decarbonization initiatives in 2024. Moreover, the Ukraine conflict has also exposed the vulnerabilities in clean energy generation and, in a way, pushed back the prospect of peak oil for the time being. This is also likely to benefit natural gas and LNG in supporting global decarbonization goals in the medium term.”

The report evaluates traditional oil and gas themes, namely liquefied natural gas (LNG), shale, and integrated refineries, that are enabling companies to remain competitive in the energy market. Shale oil and gas production could reach record levels in 2024.

The report also reveals how disruptive technologies, such as artificial intelligence (AI), blockchain, cloud computing, cybersecurity, the Internet of Things (IoT), robotics, and the metaverse, are impacting the oil and gas industry. Several prominent integrated oil companies (IOCs) have actively sought to digitalize their operations by employing digital technologies. These technologies are bringing in newer work dynamics to improve efficiency, reliability, and operational security.

Puranik concluded: “Oil and gas companies are expected to continue to expand the deployment of digital technologies across their operations in 2024. As the industry prepares to become agile and pursue a long-term energy transition, digital technologies will play a pivotal role in achieving these objectives.”

Five ways AI is transforming data centres

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The tech landscape is undergoing a remarkable transformation. This is currently driven predominantly by advancements in Artificial Intelligence (AI), Machine Learning (ML), the Internet of Things (IoT), quantum computing, automation, virtual reality (VR), augmented reality (AR), and cybersecurity.

These advancements are bringing unprecedented opportunities for business growth and improved quality of life. However, they also pose wider operational challenges that must be addressed. This includes concerns over job displacement for many people, privacy concerns, and cybersecurity risks. Within this wider landscape, AI, in particular, is playing a significant role in transforming and improving how data centres operate. 

With that in mind, Mark Grindey, CEO, Zeus Cloud shares five ways that data centres can use developments in AI to their advantage to optimise efficiency, enhance performance, and streamline operations. 

Optimising Efficiency and Performance

  1. Predictive Maintenance: Data centres consist of numerous interconnected systems and equipment. AI algorithms can analyse real-time data from sensors and usage patterns to predict when equipment may fail or require maintenance. By identifying potential issues in advance, data centres can schedule maintenance tasks, minimise downtime, and reduce costs associated with unplanned outages.
  2. Energy Efficiency: AI algorithms can monitor energy consumption patterns and optimise energy usage in data centres. By analysing data on workload demands, temperature, and power usage effectiveness (PUE), AI can identify areas where energy can be saved and provide insights for improving energyefficiency. This not only reduces operational costs but also contributes to environmental sustainability.
  3. Intelligent Resource Allocation: Data centre resources, such as servers, storage, and networking equipment, need to be allocated efficiently to handle varying workload demands. AI can analyse historical data, usage patterns, and performance metrics to optimise resource allocation in real-time. This ensures that resources are allocated dynamically, matching workload requirements, and reducing inefficiencies or over-provisioning.
  4. Enhanced Security: Data centres store large volumes of sensitive and valuable data. AI-powered security systems can analyse network traffic, identify anomalies, and detect potential security threats or attacks. By continuously monitoring data traffic and patterns, AI can provide real-time threat detection, prevention, and response, enhancing the overall security posture of the data centre.
  5. Intelligent Data Management: With the exponential growth of data, data centres face the challenge of efficiently managing and processing large volumes of information. AI can help automate data management tasks such as data categorisation, classification, and retrieval. AI-powered data analytics can extract valuable insights from massive datasets, facilitating informed decision-making and improving operational efficiency.

Conclusion

By harnessing the power of AI, data centres can optimise their operations, improve efficiency, and provide better services to their customers. However, it is important to ensure that AI systems are implemented ethically, with appropriate oversight and safeguards in place. As AI technologies continue to evolve, the potential for innovation in data centres will continue to grow, enabling them to stay at the forefront of the ever-evolving tech landscape – all of which raises questions to end users around whether their data centre provider is making use of AI to not only improve the service they receive, but also to keep data secure.

Photo by NASA on Unsplash

Registration is now open for October’s Energy Management Summit… Now is the time to book!

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The Energy Management Summit is a bespoke and highly targeted event, where you can meet with a selection of top suppliers, who can help with your upcoming plans and projects, alongside opportunities to network with peers & access to seminars!

You will be provided with a personalised itinerary of pre-arranged, 1-2-1 meetings with suppliers relevant to you. No hard sell, and no time wasted.

The event is entirely free for industry professionals, like you, to attend.

8th & 9th October 2024

Radisson Hotel & Conference Centre, London Heathrow

Your free pass includes;

– A corporate itinerary of one-to-one meetings with leading solution providers

– A seat at our industry seminar sessions, soon to be announced – keep an eye out, register your interest here

– Full hospitality including lunch and refreshments throughout

– Multiple networking breaks to make new connections in your field

– Overnight accommodation

– A gala dinner with a showcase entertainment

Places are in high demand, book your spot here.

Power your projects at the Energy Management Summit

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If you’re looking for energy partners to fuel your upcoming projects, look no further than the Energy Management Summit, taking place on the 4th & 5th October.

Your free pass includes;

– A bespoke 1-2-1 itinerary of relaxed meetings with innovative solutions providers
– Complimentary overnight accommodation, all meals and refreshments throughout
– Access to seminar sessions surrounding the energy management industry
– Networking with other professionals who share your challenges

Join us in person at the Radisson Blu Hotel, London Stansted or if preferred, you can attend via our virtual platform.

Secure your guest pass here or get in touch via the details below if you have any questions.

Don’t miss this autumn’s Energy Management Summit

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Will you be joining us at the Energy Management Summit, taking place on the 4th & 5th October? Register your delegate place today!

Your free pass includes;

– A bespoke 1-2-1 itinerary of relaxed meetings with innovative solutions providers
– Complimentary overnight accommodation, all meals and refreshments throughout
– Access to seminar sessions surrounding the energy management industry
– Networking with other professionals who share your challenges

Join us in person at the Radisson Blu Hotel, London Stansted or if preferred, you can attend via our virtual platform.

Secure your guest pass here or get in touch via the details below if you have any questions.

Energy Management Summit: Registration now open!

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Your complimentary pass gives you free access to the Energy Management Summit, a bespoke and highly-targeted two-day event, created specifically for senior energy management professionals like you. 

It is entirely free for you to attend – REGISTER HERE (virtual attendance options are also available)

Date & Venue: 4th & 5th October, Radisson Blu Hotel, London Stansted

Format: You will be provided with a bespoke and personalised itinerary of pre-arranged, 1-2-1 meetings with suppliers relevant to your requirements and upcoming projects. You will also be able to network with professionals who share your challenges.

Seminar Sessions: Throughout the event you can enjoy a range of insightful seminar sessions hosted by industry thought-leaders.

Overnight accommodation, all meals and refreshments, are included with your event pass.

Would you like to join us? Simply confirm your place here or contact us today to find out more.