GoDubai
  
  
  
  
Citylife > Press Release
  Home Contact us Add to Favourites
Most Recent Postings
More Press Releses
Featured Sections

Event Finder
A daily roundup of exhibitions, promotions and other events in Dubai and the rest of the Emirates.
Submit an Event
Latest Dubai Press Releases >>

 
  Share

Written by: Rajesh Sharma, Global Marketing Director for the Schneider Electric Oil & Gas segment

 

Dubai, United Arab Emirates, February 09, 2020:   We are seeing a major shift in sentiment towards sustainability from the major oil & gas companies.  More and more major oil & gas producers are acknowledging climate change and that actions can be taken to change the impact on future generations.  Some of the motivation behind these shifts can be attributed to public opinion and more recently, added pressures from the investment community.   Recently a major investment institution withdrew investment funds from one of the largest O&G companies in the world stating that the O&G producer is not adequately addressing sustainability. This sends a message to oil & gas companies that sustainability ought to be a critical part of their company strategies, not just a PR campaign.


To immediately and completely shun fossil fuel is not realistic, but gradual decarbonization is a practical one.  Fossil Fuel power generation will decrease from 60% to 50% from 2020 to 2040, primarily decreasing in coal sources while natural gas is forecasted to continue growth.   The shift to gas is a major transition strategy because electrification comes from power generation, burning gas generates 50-60% less CO2 than coal. Electric Vehicles (EV) are projected to grow by a few million in 2020 to about 160 million by 2040, therefore electrification is forecasted to grow drastically.


Without committing to any particular sustainability goals set by regulations, oil & gas companies need to show that they are making sustainability improvements year over year.   An automation cliché stays true here— “You cannot improve what you cannot measure”.  Companies need to be able measure their sustainability KPIs, make them visible and show improvement made on these KPIs year over year. Shareholders of some companies have even started insisting to include such KPIs in company's annual reports.


Most companies are focused on improving operations to become more sustainable through better design, safer operations, use of renewables, electrification of processes, use of local content, local labor, and development of local economy etc. However, other more progressive companies are taking it further,  and are diversifying their investment portfolios into greener businesses like renewable generation, electrical distribution, EV charging infrastructure, bio fuels etc.
Oil & Gas companies have the real opportunity to reduce the segment's carbon footprint with measurable initiatives like reducing methane emissions/leakage, primarily in the upstream segment. Other opportunities include reductions in combustion emissions and developing carbon capture, utilization and storage options, and developing uses for natural gas in the transportation sectors.  Digitization advances offer great opportunities in improving energy efficiency by data integration, visualization, advanced analytics and optimization.


Schneider Electric can be a key partner to help Oil & Gas Companies improve sustainability through several digital transformation strategies:


•         Sustainability Compliance Reporting

Plant to Enterprise Sustainability visibility helps manage energy, sustainability and efficiency data across an enterprise. Better optimized on-site energy resources and easily tracked, forecasted and visualized data maximizes your facility's efficiency.


•         Sustainable power sourcing

Schneider Electric helps clients to source renewable energy strategically by providing expertise to navigate the rapidly evolving renewable energy markets. In traditional energy markets, Schneider Electric also has consulting services to know when to purchase energy at optimal rates and times.


•         Resilience/Microgrid management

Schneider Electric integrates real-time control for microgrid stability with advanced analytics into a comprehensive, scalable management system. Our open solutions can be connected with Schneider Electric or third-party systems, for both new and existing infrastructures


•         Improve Energy efficiency

Through integrated power and process systems, and software technologies like advanced process control, real time optimization and data analytics, operators are presented with real-time information on energy economics, instilling accountability in operations. Optimized energy management increases process efficiency by reducing the total cost of energy per unit of output (e.g., balancing demands for electricity, gas, and steam consumption).

 

Sustainability is now at the center of strategy and investment decisions, and major oil companies have to invest in companies and technologies that bring renewable, low-carbon energy to consumers and to reduce their own environmental and carbon footprints. Adoption of newer technologies and digitization will broaden the scope and pace of growth for low-carbon energy, electric vehicles, energy efficiency, and distributed energy.



Posted by : GoDubai Editorial Team
Viewed 4043 times
Posted on : Sunday, February 9, 2020  
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of GoDubai.com.
Previous Story : Digital Convergence of Power Management and Process Automation to Boost Oil and Gas Profitability
Next Story : New Service Enables Remote Performance Monitoring of Multiphase Flow Meters for Confidence and Conti...
Email this article Print this article

Share this article with your friends and followers
NewsVine

Comments

Back to Top  
Most Viewed Press Release posted in the last 7 days
Make Up for Ever Introduces for the First Time Its New Active Care-in-foundation...
Olay Eyes Hydra Gel
Maillon De Cartier Watch
LG Prioritizes Home Comfort With Latest Air Conditioners for GCC Market
6 Steps X 6 Products from Essence: The Shortcut that Perfects Skin - Now more th...
Kristina Fidelskaya A/W 2020 Collection “Dream”
Eid Gifts From The Body Shop
Ralph Lauren Expands Its Earth Polo Offering, Reinforces Commitment to Protectin...
Happy Eid with Parmigiani Fleurier Toric Fleur
Vatika Focuses on Making Quarantine a Quality Time With New Viral Campaign
Your at-Home Spa Guide With Skin Republic
Sony Middle East & Africa Launches New Compact 4K Handycam® Camcorder with Advan...
Dubai Sports Council Thanks Wise Leadership for Its Protection and Care of the C...
UAE Banks Among Top Performing in GCC, KPMG Report Finds
Dubai Customs: Strategic Plan to Curb Corona
Etihad Guest Rewards Members While Staying Home
Denim Culture
Etihad Holidays to Be Operated by Dnata Travel Group In the UK
Mohap Hails Family Doctors' Efforts in Countering Covid-19 Crisis
Pure Health Launches Covid-19 Field Laboratory at Sharjah Expo Centre
Celebrate Father's Day With Parmigiani Fleurier Tondagraph Slate
Lenovo's Tech Gift Guide
First Range Rover Made Under Social Distancing Measures Comes Off Jaguar Land R...
Made in Italy, ICSA® Issues a Notification of Counterfeit Products Found in the ...
Karl Lagereld Drives Digital Innovation With Launch of the “Maison Karl Lagerfe...
Emirates Post Launches ‘Epostcard' to Connect Friends and Families
Instagram Partners with TBWA Raad and Egyptian Food Bank to #Stopfoodwaste
Covid-19 Disruption Will Lead to 28 Million Surgeries Cancelled Worldwide
Etihad Airways Increases Number and Frequency of Special Flights Worldwide
IATA Outlines Layered Approach for Industry Re-Start
Union Coop Launched ‘Drive Thru' Shopping Service
Ralph Lauren: How to master the art of tie-dye. #RLatHome
Abu Dhabi University Creates Face Shield Prototype to Support the Local Healthca...
MHPS Captures Global Gas Turbine Market Share Leadership Again
Dubai Chamber and Al Tamimi & Co discuss Covid-19 and Force Majeure in the UAE
Emirates Sets Industry-leading Safety Standard for Customers Travelling as It Re...
Keeping Mobile Networks Running Top Priority During COVID-19 Pandemic
Commodity Weekly: Gold and Silver Pop as Economic Clouds Darken
Jaguar Land Rover Special Vehicle Operations Reports Fiscal 2019/20 Retail Sale...
OMEGA Adds Full Gold Models to The Speedmaster 38 mm Collection
ENEC Completes Significant Test for Unit 4 at Barakah
SRTI Park Discusses Reality, Future of Research and Development in Arab Region
Introducing the Marks & Spencer Summer Edit
Jameel Institute at Imperial College London Launches New Tool to Help Hospitals ...
Arabian Automobiles Welcomes the All-New 2020 Nissan Sunny
Give the Gift of Time and Convenience This Eid With Lg Electronics
Abu Dhabi Early Childhood Authority: How to Help Your Children Thrive With Remot...
What Narcolepsy Is and How to Cope With It
UAE Develops a Rapid Coronavirus Laser Testing Technology
Twitter Launches ‘Heroes of Good' Campaign to Celebrate the Spirit of Ramadan