Cloud, AI, 5G reshaping energy industry

Cloud, AI, 5G reshaping energy industry

The Huawei Oil & Gas Virtual Summit 2020 “” exploring 'Data to Barrel' “” gathered global customers, industry partners, and thought leaders, including representatives from the Abu Dhabi National Oil Company (Adnoc), Schlumberger SIS, and the former Chief Information Officer (CIO) of French giant Total, to share their experiences of helping oil and gas companies increase profits while cutting costs, creating added value through digital transformation. Key suggestions on how the industry can overcome challenges at this particular point in time, adapting to the new normal of the pandemic and post-pandemic periods, were also fully explored.

In the first half of 2020, due to the global economic downturn amid the spread of Covid-19, international oil prices fell to a low of 30 dollars per barrel. In May, West Texas Intermediate (WTI) crude oil futures prices even turned negative, a historically unprecedented event. Undoubtedly, the oil and gas industry has entered an extremely difficult period and is witnessing changes, the likes of which have not been seen for over a century.

Huawei has been working hard to help oil and gas customers cope with these current challenges. David Sun, Vice President of Huawei's Enterprise Business Group and Director of the Global Energy Business