The coronavirus pandemic and turbulent geopolitical tensions have even further rattled an already challenged global oil market. Refining capacity additions in recent years have outstripped demand growth, bringing tough competition for an industry suffering from demand concerns never seen before. In a rapidly de-carbonising world, energy companies must balance the investments needed to ensure sufficient supplies against the necessity of cutting carbon dioxide (CO2) emissions. Major oil companies have responded by announcing long-term objectives to cut their emissions. Nevertheless, activists continue to pressure the industry to sharpen its focus on sustainability while also seeking to hinder new oil developments. 

Energy companies are restructuring to prepare for the worst and going forward, CapEx, OpEx, buybacks, and new investments will be adjusted downward. The impact of accelerated clean energy transitions has placed many in the midstream sector on the back foot, prioritising short-cycle projects for the coming years. On the downstream side, companies are increasingly focused on creating unique customer experiences to squeeze out a competitive advantage and know that they must grow their digital capabilities to unleash such a powerful business transformation.

Informatica & Wipro have a long and proven track record of helping energy leaders to leverage analytics and digital transformation—fuelled by reliable and trustworthy data—to reshape the energy industry for a rapidly changing world. The most important business priorities for energy companies today are to develop the key data management capabilities to make trusted data at scale actionable, ready to be put to use by people, apps, artificial intelligence, and, most importantly, to help turn business and operational challenges into opportunities.

This virtual boardroom session will bring in regional experts from the energy sector to discuss how companies can leverage data as a strategic asset with trusted, governed, relevant, and accessible data to manage the shift to de-carbonisation, implement operational efficiency and sound financial planning, manage regulatory compliance, and operationalise data governance.