[vc_row][vc_column][vc_column_text]If you look at current scenario at international oil companies and how they are prepared to the demand saturation for oil industry, the dependency lies on prowess of owning anticipatory actions which withstand volatility in demand. Companies need to ensure their resilience on minimizing their resources during downtime and scale up at the time of increased productivity. Selective and disciplined actions are required while selection and boarding of new projects. Everyone needs to rethink about how energy transition is going to shape their long-term strategy. Here is look at energy demand trends –
Source: Energy Outlook via Reseachgate.net
Figure shows the worldwide energy consumption trend between 1965 and 2035. It doesn’t require any mention that for diverse energy sources there is a high consumption of renewable and non-renewable energy resources (oil, carbon, gas, solar, wind), which justifies the requirement of exploration and eventually investment costs. It looks obvious that energy can be saved from the rationalization of the consumption. New distributed generation technologies with demand response programs, where the management of resources is the main component encompassed within the framework of development perspectives. The consumption of electricity can be leveraged in automobiles, but solar and wind energy can be utilized for heavy industries and households where power supply needs continuous and heavy usage. New data shows that 20% of energy need can be met by solar power and same percentage can suffice power needs of automobile globally. This will pave new way for around 15-20% of fresh investment in new technologies of energy production and supply.
The efforts should be directed towards the energy market with more alternative sources of energy and optimized exploration, trading and distribution processes for non-renewable energy that maximize the benefits of energy traders. If the global policy addresses the interest of energy companies, market will become more stable and will be in interest of traders and industries.
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