Midstream oil & gas outlook
A volatile geopolitical environment, exacerbated by tariffs, may play a role in the economics of pipeline and storage availability in the near future, just as production volumes are expected to continue to grow. US pipeline construction and repair activity relies on imported finished goods and imported parts used for domestic manufacturing of line pipe, fittings, and valves.
Projected growth in midstream infrastructure will continue to demand balanced management over asset utilization and reliability of the network, to avoid upsets to overall system availability and related economics. Companies will increasingly rely on data analytics rich algorithms to continuously monitor the market, understand the risks and opportunities in the industry and adapt their asset availability in order to capitalize on system disruptions. This agile approach to managing the supply chain assets will help companies improve competitive positioning, retain consumers and improve growth prospects.
Impact of Industry 4.0 technologies
Some of the technology being employed under the Industry 4.0 banner include mobility sensing and surveillance systems like drones equipped with thermal imaging systems which help identify points of vulnerability, like corrosion and leaks, across pipelines. Key areas of transformation include improvements in data management to track inventory levels and monitoring system. Real-time fuel consumption data feeds refinery production demand in true, dynamic S&OP resulting in mitigated supply position and cash release.
