Which IoT & data-driven solutions have contributed to optimizing supply chain performance for midstream oil and gas companies?

Abstract

The oil and gas industry is one of the most important industries in the world due to its contribution towards the global economy and energy supply. Despite the industry's challenges related to sustainability and the environment, its historical importance and current energy demands makes it a critical part of the global economy and energy landscape. In our paper, we have focused on midstream companies operating in the oil and gas industry. They play a pivotal role in transportation, storing, and processing oil and natural gas, as well as forming a link between extraction and distribution.

Industry 4.0 has drastically changed how many industries operate by integrating advanced technology and automation solutions in different processes. These changes have made their way to the oil and gas industry and are changing the way companies operate. Through previous literature and interviews with industry representatives we have gathered relevant data with the aim of identifying which IoT and data-driven solutions have contributed to creating more optimized supply chain performance in the midstream oil and gas industry