Back to the complete issue
Friday, 23 September 2016

Disrupting the energy industries

The technological disruption facing major oil and gas companies: The Economist produced an original series, The Disrupters, exploring how major industries – from music and cars to hospitality – are currently being disrupted by the latest wave of digital innovation. The series covered the energy sector and how, in the past eight years, the value of the biggest oil and gas companies has halved. Villages in Germany are showing how they’re using subsidies to expand their reliance on renewable energy sources and even large oil gas companies are adopting new strategies to respond to the disruption. Statoil, for example, aims to become the most carbon efficient oil and gas producer in the world. It is using pioneering technologies on its Sleipner gas rig that allows it to separate carbon dioxide and pump it underground making extraction less carbon intensive. It has also developed the world’s first floating wind turbine. Germany’s E ON has taken a bolder move, breaking the company in two and spinning off its fossil fuel arm to focus on renewables (runtime 14:48).

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.