ABSTRACT
Digitalization appears to be both, a challenge and an opportunity for the energy industry. Energy companies still hesitate to introduce digital technologies, although the benefits such as better safety performance, higher operational performance, exploration that is more efficient and further cost reduction are clear. The oil and gas industry strategies are challenged by the renewables branch that is becoming a more reliable energy source, having developed a range of competitive digital business models, an example of which are virtual power plants and distributed generation. What is more, given decarbonization policy alternative energy sources gain a competitive advantage over oil and gas, which further weakens market positions of the traditional energy branches.
