The New Oil and Gas Quarterback to Climate Change Solutions: Prescriptive Analytics

Most Americans who hear the phrase “Hail Mary” (outside of church,) think of football.It  brings to mind a long pass in the last seconds of the game that scores a victory for the  team who would otherwise have lost.

In June, the Vatican had its own pep talk for “Team Earth” with oil and gas executives: quit drilling for fossil fuels that cause harm to the environment and impact the world’s poorest. At the event, the Pope emphasized his interest in the renewables strategy, much like a “Hail Mary” for humanity.

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Growth in Petrochemicals: Is the Only Way Up?

How to manage profits with growth opportunities

 “Global economic growth is lifting more people into the middle class in developing countries, and higher incomes mean sharply rising demand for consumer goods and services.”

This statement from a recent International Energy Agency (IEA) report is good news for the petrochemicals market, forecasting 25% growth for this oil and gas sector. However, does growth mean increased profits? If capacity, product mix, inventory costs, and numerous other factors are not aligned, the answer is…not necessarily.

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Barrel Up: Oilfield Digitization Comes of Age

A company making a widget that sells for $50 but in a matter of months gains demand, allowing the price to be bumped up to $70, would sound like a great thing. Right?

If only it were that simple in the Energy industry. The barrel price of Brent crude — the thermometer of industry health — has made a comeback that has many stakeholders more skeptical than elated. Why? Unlike other industries, Energy turns on an axis of its own as we covered earlier. However, what makes this time different is that the uptick, for most U.S. firms, comes from a position of offense as a leading exporter rather than playing defense because of foreign oil actions. The equation has changed. 

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Leveraging Prescriptive Analytics to Drive Digital Transformation in Oil & Gas

Over the last year, here at River Logic we have had the opportunity to make some pretty major waves in the Energy Industry — more specifically in the world Oil & Gas. Our internal knowledge of the space and the breadth of our solution delivery have both grown drastically. This is largely due to our relationship with our Energy partners, mentioned below. Given the nature of optimization-based prescriptive analytics, understanding how to apply this technology in a somewhat foreign industry can be a pretty big challenge. The truth is, optimization is complex — everything from understanding the best technology to use, to knowing what problems to tackle first, to ensuring your implementations will drive the fastest, and largest return.

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A Q&A Series on the Value of Prescriptive Analytics in Oil & Gas - Part III

This is a 3-part Q&A series with Chris McManaman, Director Commodity Trading and Risk Management, CGI Global

CGI has used enterprise-wide optimization for many use cases—what are the primary ones you’ve focused on? Why have you chosen to focus on those particular use cases?

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A Q&A Series on the Value of Prescriptive Analytics in Oil & Gas - Part II

This is a 3-part Q&A series with Chris McManaman, Director Commodity Trading and Risk Management, CGI Global

How would you describe Prescriptive Analytics’ impact potential in the Energy/Oil & Gas market, especially as compared to other forms of advanced analytics?

Prescriptive analytics enables you to leverage all your data analytics to produce better decisions more quickly. It pulls all the other advanced analytics domains together to create the analytics that people actually wanted in the first place. You can use the lessons in descriptive and diagnostic analytics to understand the constraints and correlations involved in making decisions. You can use predictive analytics to determine where you want to position yourself.

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