Digitalization can save the oil industry USD 75 billion per year

Improving digital solutions and leveraging big data could produce massive annual billion dollar savings for oil companies, says energy consultancy Wood Mackenzie.

Photo: Ritzau Scanpix/Mads Claus Rasmussen

The oil industry can save upwards of USD 75 billion per year by implementing digital solutions in a number of areas in the value chain.

A new report from Wood Mackenzie projects that in upstream alone the oil the industry can save large sums through digitalization.

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