Energy Stat of the Week by Justin Jenkins

Energy Stat: When Thinking About Barrels, Don't Overlook Bytes - The Internet of Things Is Making Waves in the Energy Sector

January 22, 2019

As energy analysts, we admit to occasionally feeling a bit of envy vis-a-vis our counterpartscovering tech - it must be nice to work with stocks that actually, you know, go up most of thetime. However, joking aside, the energy and natural resources sector is itself an important userof information technology. Today we will delve into how resource companies (oil and gas, power,and water) are benefiting from innovative solutions as part of the much-talked-about Internet ofThings (IoT). Needless to say, there is a limitless range of examples to choose from, so we will focuson five case studies that we think are especially illustrative. Our central message is this: while IoTis surely not the first thing anyone thinks about vis-à-vis energy, its role in boosting profitability -from both the revenue side and the cost side - should not be overlooked.