Blockchain in Oil and Gas – Thematic Intelligence

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Blockchain in Oil and Gas Thematic Report Overview

Blockchain technology is garnering much attention within the oil and gas sector. It presents novel approaches to service contracts, reviews pricing, and supports the complete transaction life cycle, thereby, allowing cost reductions and enhanced process efficiencies. Moreover, the advantages of blockchain in the oil and gas industry manifest through enhanced transparency, compliance, and centralized application security.

The “Blockchain in Oil and Gas” thematic intelligence report gives an in-depth insight into the integration of blockchain technologies across the various stages of the oil and gas industry. It identifies the key market trends that will shape the blockchain theme over the coming years. The report also covers value chain insights, market players, and the competitive landscape within the theme.

Report Pages 108
Regions Covered Global
Value Chain Components ·        Infrastructure Layer

·        Software Layer

·        Centralized Applications Layer

·        Services Layer

·        Application Layer

Key Trends ·        Industry Trends

·        Technology Trends

·        Regulatory Trends

·        Macroeconomic Trends

Leading Oil & Gas Companies ·        Abu Dhabi National Oil Company (ADNOC)

·        British Petroleum

·        Equinor

Leading Technology Companies ·        Accenture

·        Alchemy

·        Alibaba

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Blockchain in Oil and Gas – Market Trends

The primary trends that will influence the blockchain theme over the next 12 to 24 months are classified into technology trends, macroeconomic trends, regulatory trends, and industry trends.

  • Technology Trends: The key technology trends shaping the blockchain theme are the use of permissioned blockchain tools to speed up business processes, increase transparency, and reduce costs; and blockchain as a service (BaaS), a cloud-based tool. Furthermore, technological innovations such as smart contracts and Layer 2 solutions; growing focus on interoperability; and the rising popularity of cryptocurrencies, Web3, and Non-fungible tokens (NFTs) will significantly affect the blockchain theme in the coming years.
  • Industry Trends: The key oil and gas industry trends impacting the blockchain theme are the growing prominence of asset tokenization, the growing adoption of the Internet of Things (IoT) and blockchain technology to promote environmental sustainability, efficient management of supply chains, and the use of blockchain, in conjunction with IoT, to ensure product integrity and prevent loss in its volume while transporting from the source to its end users.
  • Regulatory Trends: The key regulatory trends impacting the blockchain theme are a cohesive and adaptable regulatory approach, a focus on cryptocurrency regulation, growing concerns about data privacy, and a pressing need for definitive technical and governance standards in blockchain.
  • Macroeconomic Trends: Blockchain consortia such as Aura, Canton, and Hyperledger; the Chinese government-backed Blockchain-based Service Network (BSN); and the growing focus on ESG are the key macroeconomic trends that will impact the blockchain theme. The market will also be impacted by the global demand for blockchain professionals; asset tokenization gaining prominence in financial institutions; and the emergence of the Play-to-earn (P2E) model.

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Blockchain in Oil and Gas – Industry Analysis

GlobalData forecasts that the global blockchain software and services market will grow significantly by 2030. However, blockchain’s intertwining with other Web3 technologies makes it difficult to identify revenue explicitly generated by it. Moreover, many blockchain companies are private, and the industry has historically been less transparent with financial disclosures than other sectors.

The open-source nature of many blockchain protocols will likely facilitate greater in-house adoption and customization of blockchain, reducing dependency on external service providers. This shift is particularly common in the financial sector, the leading sector in blockchain spending.

The blockchain in oil and gas industry analysis also covers:

  • Timeline
  • Impact on the Oil and Gas Industry
  • Case Studies
  • Signals
    • M&A trends
    • Venture financing trends
    • Patent trends
    • Company filing trends
    • Hiring trends

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Blockchain – Value Chain Analysis

The blockchain value chain can be categorized into the infrastructure layer, software layer, centralized applications layer, services layer, and application layer.

Infrastructure Layer: This layer of the value chain includes the hardware and supporting software necessary for the operation of blockchain protocols and networks. This layer comprises five sub-categories including semiconductors, nodes, storage devices, networking equipment, and data centers. While some enterprises manage nodes in-house, others prefer the potential cost-saving advantages of blockchain as a service (BaaS). BaaS is classified under the services layer of the value chain.

Blockchain Value Chain

Blockchain Value Chain

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Competitive Landscape

A few of the leading oil and gas companies associated with the blockchain theme are:

  • Abu Dhabi National Oil Company (ADNOC)
  • British Petroleum
  • Equinor

A few of the leading technology companies associated with the blockchain theme are:

  • Accenture
  • Alchemy
  • Alibaba

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  • This report explores the use of blockchain technologies in the oil and gas industry.
  • It forecasts the total global blockchain market size till 2030.
  • This report establishes a blockchain value chain and identifies key players across this value chain.
  • It highlights the use cases of blockchain technology in the oil and gas industry.
  • This report reviews the deals, company filings, hiring, and patent activity related to blockchain technology.
  • The report provides an overview of the competitive positions held by technology companies and oil and gas industry companies in the blockchain theme.

Reasons to Buy

  • Identify recent technology, macroeconomic, regulatory, and industry trends in the blockchain theme.
  • Identify use cases for the oil and gas industry in blockchain theme.
  • Identify and benchmark key technology companies and their role in the blockchain theme.
  • Identify and benchmark oil and gas industry companies adopting blockchain technology.

Table of Contents

  • 1. Executive Summary
  • 2. Players
  • 3. Technology Briefing
  • 4. Trends

    • 4.1. Industry trends
    • 4.2. Technology trends
    • 4.3. Macroeconomic trends
    • 4.4. Regulatory trends

  • 5. Industry Analysis

    • 5.1. Market size and growth forecasts
    • 5.2. Timeline

  • 6. Impact on the Oil and Gas Industry

    • 6.1. Case studies

  • 7. Signals

    • 7.1. M&A trends
    • 7.2. Venture financing trends
    • 7.3. Patent trends
    • 7.4. Company filing trends
    • 7.5. Hiring trends

  • 8. Value Chain

    • 8.1. Infrastructure layer
    • 8.2. Software layer
    • 8.3. Services layer
    • 8.4. Application layer

  • 9. Companies

    • 9.1. Technology companies
    • 9.2. Oil and gas companies

  • 10. Glossary
  • 11. Further Reading
  • 12. Our Thematic Research Methodology
  • 13. About GlobalData
  • 14. Contact Us

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