ABSTRACT
The need to enhance the petroleum and gas supply chain’s efficiency has led the industry to focus on information and digital technology. Numerous enterprises have recently adopted blockchain technology to enhance their productivity. The industry recognizes blockchain as a technology to boost organizational structure, productivity and data protection. Blockchain is an evolving technical framework intended to create pathways in economic systems that would revolutionize corporate cultures. The chapter discusses the essential theories and methods in implementing blockchain in the petroleum and gas sector. The status of protocols, the degree of awareness, and the opportunities, challenges, risks and growth patterns are also analyzed. The author concludes that the technique has tremendous potential to improve efficiency and maximize the benefits of the oil and gas industry.
