Question

write an essay on challenges in the future for oil and gas sectors no copy allowed if someone is found to copy then he or she would be punished and reported ​

Answer 1

Explanation:

> Reducing costs to remain competitive

Producing crude oil and refined products at a lower cost to stay competitive on the market is one of the industry’s major challenges. Optimizing production systems and environmental utilities on currently operating sites is therefore a priority for the oil industry. This maximizes production efficiency, reduces the costs of extraction and refining and thereby offsets the exploration costs.

> Improving performance to ensure the valorization of assets

To sustain their supply of crude oil or gas, oil companies are looking to extend the life of mature sites but are also compelledto seek new sources of oil or gas for which extraction, transport and refining are much more complex and costly. For that, they aim to achieve 100% reliability of their plants : no unplanned shutdowns , increased throughput , secure industrial assets.

> Improving the Environmental footprint to meet increasingly stringent standard

The oil and gas industry is a major consumer of water and energy resources and is therefore subject to increasingly stringent environmental standards. This constrains them to rethink extraction, production and distribution methods in order to obtain or maintain their licence to operate.

They also have to provide guarantees and ensure transparency in the environmental management of their activities.

In the Beijing area in China for example, where water shortages are becoming more frequent and where tackling air pollution is a major central government commitment, environmental standards are particularly strict. The standards governing wastewater discharges in particular are currently the most demanding in the world. This is a major compliance challenge for the industrial groups in the region, in particular for Sinopec. It is the largest refining company in Asia and operates the Beijing Yanshan petrochemical complex, one of the largest refined petroleum products production sites in the country.