The oil and gas industry workforce is facing digital transformation

Based on scenes on article pages, Rigzone’s downstream audience showed much interest last week in an article that offered a snapshot of potential permanent changes in the oil and gas workforce. Read on to find out more, along with other recent articles that are popular with downstream readers.

What ongoing changes to the workforce in the oil and gas sector are planned?

About 14% of permanent workers in the US oil and gas sector lost their jobs in 2020, according to Deloitte’s estimate. The consultancy also warned that more than 70% of those jobs lost during the COVID-19 pandemic may not return by the end of this year. As a result, this “big squeeze” of the oil and gas workforce could lead to dramatic technological changes, especially more digital-centric equipment. In this article, Rigzone contributor Monique Jozwiakowski presents insights into how jobs in the oil and gas industry are changing and preparing for a career in the industry. An energy technology executive officer and professor from Texas A&M University provides additional context when it comes to transforming the workforce.

New oil price forecasts for 2021 and 2022 of the EMU

The Ministry of Energy Information (EIA), the statistical arm of the US Department of Energy, has made minor changes to its forecast spot prices for Brent this year and next. The AEA’s short-term energy forecast (STEO) for May forecasts Brent’s average spot price for 2021 at $ 62.26 a barrel, two cents lower than last month’s Brent STEO. However, the EIA – at 25 cents a barrel – revised its average forecast of Brent for 2022. The DOE unit now expects the benchmark to average $ 60.74 next year.

Geothermal is a different kind of renewable resource

How to move from non-renewable energy resources to renewable energy is a major topic in today’s oil and gas community. Only a renewable resource – using ground heat – offers a clean and consistent source of primary load energy, a geothermal executive told Rigzone. Further, he emphasized that geothermal integration into the electricity grid relies less on long-distance transmission and ancillary services than renewables such as wind and solar. He also noted that collaboration opportunities exist between the geothermal and oil and gas sectors.


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