24 Aug 2020

Industrial IoT is Revolutionizing Oil and Gas

Iot in the Oil industry
 

How do you stay competitive in a volatile market? How do you make your refinery more cost-efficient and profitable without putting people at risk?

That’s where the IIoT (Industrial Internet of Things) comes in. Here are 3 ways this technology is shaking up the oil and gas industry today.

1. It Improves Operational Efficiency

When you’re working in an industry with high-stakes as oil & gas, accuracy and efficiency are paramount. 

Industrial IoT data provides comprehensive, real-time insights that help you assess the performance and productivity of every part of your refinery, helping you to streamline your processes and predict requirements and demand. Embedded sensors throughout your plant feed back up-to-date data every second to keep you on track.

With the right tools for analysis, combined with remote visibility, you’ll be able to keep your refinery in tip-top condition, all the time.

2. It Boosts Profits

Oil and gas prices fluctuate widely and it’s vital that companies run a tight ship in order to stay competitive. By providing the up-to-the-minute data you need to become as efficient as possible, the IoT helps you to trim costs, stay within budget and maximize your profits going forward.

3. It Makes Maintenance Easier and Safer

When downtime can cost you millions of dollars a day, no one wants a turnaround to go on for any longer than it absolutely has to. At the same time, the safety of your employees is paramount.

With the IIot, you can monitor potential problems to prevent incidents before they occur, and alert your workers, including maintenance technicians, immediately if any dangers rear their heads. 

What’s more, with the right data, you’ll be able to make better decisions about predictive maintenance, to avoid having to shut down in the first place, while rental equipment fitted with sensors means your vendors can remotely monitor their equipment to make sure temporary installations never fail during a turnaround.

Final Thoughts

Successful leveraging of the IIoT is all about cutting costs and waste without ever cutting corners. You’d be hard-pressed today to find a refinery that doesn’t use it at all - but to stay ahead of the curve, you need to be focused and innovative in your applications.