TECH SUPPLIER Nov 2020 - IDC Survey - Doc # AP46516920
IMO 2020's Impact on Business Priorities and IT Investments of Oil and Gas in Asia/Pacific
By: Emilie Ditton, Haida Hatim
This IDC presentation assesses the implications of IMO 2020, a shipping regulation, on Asia/Pacific oil and gas companies. This presentation presents results from IDC's 2020 Industry 4.0 Survey, particularly IMO 2020 responses from oil and gas companies.
IMO 2020 regulations will create a ripple effect throughout the marine fuel ecosystem. Introduced in January 2020, it will continue to impact the entire chain, starting from refiners to shipping companies. Shipping fuel demand forms a dominant part of oil and gas production. Hence, technology investments enabling improved optimisation, visibility, and predictive capabilities will be critical for companies to overcome uncertainties in operation environment and market condition.
"IMO 2020 will affect the entire shipping fuel ecosystem in Asia/Pacific," says Emilie Ditton, associate VP, Energy and Manufacturing Insights, IDC Asia/Pacific. "2020 has been a difficult year for oil and gas companies in the Asia/Pacific region," says Ditton. "IMO 2020 is just one of the disruptions this year that oil and gas companies have had to tackle, but the new regulation has highlighted how critical technology capabilities enabling visibility and improved optimisation and predictive capabilities help manage complex dynamic environments."