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Sustainability Trends Impacting Oil & Gas Industry

  • ID: 4847324
  • Report
  • September 2019
  • Region: Global
  • 45 Pages
  • Frost & Sullivan
Robust Sustainability Strategies Enable O&G Companies to Address Environmental and Climate Change Risks and Provide a Competitive Advantage

The oil and gas industry has seen by many as a major source of pollution in the world. Chemicals such as carbon dioxide and methane have been released to the atmosphere. The cumulative volume of both gasses, along with other harmful substances are massive. Decades of harmful emission has led to serious consequence, particularly on the deteriorating atmosphere’s health which is referred to as global warming.

This event, if not carefully managed, can lead to irreversible states such as long droughts and shrinking sea ices. The seriousness of global warming has prompted world leaders to take drastic measures in order to prevent catastrophic consequences from taking place. United Nations Member states have launched Sustainability Development Goals consist of 17 key areas. As part of moral duty, companies in oil and gas industries are expected to fulfill Sustainability Development Goals agreed by the United Nations Member states.

This research service discusses a number of key trends that oil and gas companies are involved with to promote sustainability and preserve the environment. In addition, it also discusses the possible future scenarios of oil and gas companies in the sustainability area.

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Executive Summary

  • Research Scope
  • Research Process and Methodology
  • Key Findings

Key Trends

  • Employees Welfare
  • Improvement in Quality of Lives for Employees Drives Social Sustainability Efforts
  • Operational Efficiency Improvement
  • Efficiency Enhancement to Ensure Sustainable Operation

Case Studies

  • Water Efficiency Improvement
  • Water Efficiency Improvement is Critical in Sustainability Plan
  • Fracking Wastewater can be Used for Irrigation
  • Water Filtration by Using Mobile Treatment Units
  • Addressing Social Issues
  • Multiple Efforts Addressing Social Issues
  • Advanced Fuel Eliminates Abuse Concern
  • Infectious Disease Prevented Through Health Program
  • Technological Advancements
  • Advancement in Technology Enables Sustainable Operation
  • Technological Advancement Reduces Gas Emission
  • Improved Water Efficiency Reduces Fracking’s Water Consumption
  • Improved Biodiversity
  • Efforts to Reduce Biodiversity Impacts from Upstream Activities
  • Communities’ Involvement Enables Sustainable Operation
  • Forestation Activities Improved Through Multiple Efforts

Current Initiatives by Companies

  • High-Efficiency Turbocompressor Reduces Energy Consumption
  • Building Refurbishment Reduces Energy Usage
  • Implementation of Sensors on Valves to Enhance Efficiency
  • Research Activities Develop New Solutions

Challenges and Opportunities

  • Development Costs Prevent Adoption of Sustainability Strategies
  • Implementation of Sustainability Strategies Earns Recognition by Communities

Key Sustainability Development Goals Addressed by the Oil and Gas Industry

  • Advanced Technologies Address Climate Change Issues
  • Ecosystem Included in Planning Tackles Biodiversity Concerns

Future Scenario

  • Increased Collaboration Between Companies and Vendor

Key Contacts

  • Key Industry Influencers
  • Legal Disclaimer
Note: Product cover images may vary from those shown