Ungated Post | 01 Oct 2018
Extracting digital rewards: Digital Reinvention in petroleum
Petroleum markets must shift from an era of “organizational centricity,” in which companies and service providers largely defined what to produce and market to customers, to one of “individual centricity,” in which tech-savvy consumers demand customized engagement and experiences.
Today’s global petroleum industry is best understood within what we call the everyone-to-everyone (E2E) economy. The E2E orchestrated, based on business ecosystems that are both collaborative and seamless; it is contextual, in that customer and partner experiences are calibrated and relevant to their specific actions and needs; it is symbiotic, in that everyone and everything, including customers and businesses, are mutually interdependent; and it is cognitive, characterized by data-enabled, self-supported learning and predictive capabilities.
In cooperation with the IBM Institute for Business Value, we surveyed 600 global executives in the chemicals and petroleum industries. Responding executive roles included COOs and CIOs, and their direct reports. In total, 300 petroleum respondents participated in the study – 26% from North America, 5% from South America, 33% from Europe, 11% from the Middle East and Africa, and 25% from Asia Pacific.
Our Thought Leadership team produces original, evidence-based research made accessible to decision-makers and opinion leaders.
Oxford Economics’ team is expert at applying advanced economic tools that provide valuable insights into today’s most pressing business, financial, and policy issues.
Related Services
Post
From Farm to Table: The Philippine Agri-Food Economy in 2025 and the Road to Competitiveness
This report assesses the Philippines’ agri-food system, from agricultural production and food and beverage (F&B) manufacturing, to the wholesale, retail, and hospitality distribution networks that bring F&B to market. We quantify the economic contribution of the local agri-food sector, document the challenges faced by Philippine agri-businesses due to the tightening operating environment and shifting trade patterns, and outline a practical path to navigate these headwinds.
Find Out More
Post
Economic benefits quantum computing can bring to Sussex and Greater Brighton
This report focuses on the quantum computing sector in Sussex and Greater Brighton, and its potential contribution to the South East and wider UK economy.
Find Out More
Post
Policy in the driving seat
Asia remains one of the world’s most dynamic growth regions—but the forces shaping business outcomes are changing.
Find Out More
