According to Globaldata, 196,130km of planned and announced trunk oil and gas pipelines are anticipated to become operational globally between 2023 and 2030. This consists of 113,099km of planned pipelines that have identified development plans, and 83,031km of early-stage announced pipelines currently under conceptual study, expected to receive development approval. Based on Global Energy Monitor's 2023 data, Africa and the Middle East account for 49% of the global oil transmission pipeline construction, valued at US$25.3 billion. The report indicates these regions are currently constructing 4,400 km of pipelines with an investment of US$14.4 billion. There are plans for an additional 10,800 km at an approximate cost of US$59.8 billion.

ExxonMobil's joined assets speed up their Low Carbon Solutions business, offering better decarbonization options for customers. ExxonMobil's top CCS network supports their commitment to low carbon value chains, like hydrogen and biofuels. The transaction synergies will cut over 100 MTA of emissions, leading to strong growth and returns. Exxon Mobil Corporation revealed that it will acquire Denbury Inc., a company specializing in carbon capture, utilization, and storage (CCS) solutions and enhanced oil recovery. $4.9 billion deal will be completed through an all-stock transaction. Darren Woods, Chairman and CEO said “Acquiring Denbury reflects our determination to profitably grow our Low Carbon Solutions business by serving a range of hard-to-decarbonize industries with a comprehensive carbon capture and sequestration offering”.

The Permian Basin is one of the most important oil and gas basins in the world, located in western Texas and southeastern New Mexico in the United States. Oil drilling and production in the Permian Basin began in the early 1920s. The first significant discovery in the region was made in 1923 in the Westbrook field in Mitchell County, Texas. This discovery led to a boom in oil exploration and production in the area. By the 1930s, the Permian Basin had become one of the major oil-producing regions in the United States, and it continued to grow in importance throughout the 20th century.

ESG considerations are becoming increasingly essential for companies operating in the upstream sector. Failure to address ESG concerns may result in financial and reputational risks, given the growing focus from investors, regulators, and other stakeholders. Companies must prioritize ESG performance and engage with stakeholders to address concerns and mitigate risks. By doing so, they can improve their reputation, attract investment, and contribute to a more sustainable future

Most companies have plans in place to identify and manage the normal operational risks of enterprise asset management (EAM). But, it is equally important to consider the potential emergence of ESG risks that a company may face. While predicting events such as hurricanes, pandemics, and regulatory violations is difficult, preparing for or mitigating the impact can avoid potentially devastating effects on an asset-rich organization, as well as its employees and shareholders. As a reminder, ESG investing looks at three elements: environmental (E), social (S), and governance (G) issues, with stakeholders looking not only at the financial parameters of a transaction but also the non-financial parameters. For example, oil and gas companies should develop plans to restore power lines or pipelines after an earthquake or other natural disaster. These plans should describe procedures for how employees will access remote sites, which assets will be prioritized, what additional equipment will be needed, and how it will be obtained.

The oil and gas industry has long relied on the recommendations of trusted experts to make key supply chain decisions. The growing popularity of Blockchain technology could significantly disrupt these relationships by providing an unbiased methodology for sourcing, tracking, and executing transactions on behalf of customers with transparent data sets across supply chain endpoints. Blockchain technology has already been used by many global companies in the last two years in various areas such as IoT (Internet of Things), smart contracts, and cryptocurrencies. It has enabled businesses to benefit from the inherent trust and transparency of the technology.

Being the main means of transferring crude oil around the world, pipelines rapidly route oil and its derivative products (gasoline, jet fuel, diesel fuel, heating oil, and heavier fuel oils) to refineries and empower other businesses. The U.S. and Canada solely make North America a major oil hub for more than 90,000 miles of crude oil and petroleum product pipelines, which are connected to more than 140 refineries daily processing about 20 million barrels of oil. Compared to 2010, U.S. crude oil production has increased more than twice: from 5.4 to 11.5 million barrels a day. Therefore, newly produced oil obliged energy companies to expand their pipeline networks, but it has only increased by 56%. According to the latest data, Plains manages the largest pipeline network across the U.S. and Canada (its diameter is at least 10 inches) which is the 14,919-mile network that spans from the northwestern tip of Alberta down to the southern coasts of Texas and Louisiana. The place where all these various spreading pipeline networks carry crude oil is refineries, where it is transformed into different petroleum products. Gulf Coast (PADD 3) possesses several refineries with the largest throughput in North America that process more than 500,000 barrels per day. Not only does the development of new pipelines give a plethora of opportunities for economic growth but also it remains a contentious issue in Canada and the U.S., with the cancellation of the KeystoneXL pipeline emblematic of growing anti-pipeline sentiment. In 2021, only 14 petroleum liquids pipeline construction plans were completed in the U.S., which is considered the lowest amount of new pipelines and expansions ever since 2013. Anti-pipeline sentiment did not come out unexpectedly as leaks and spills in just the last decade have resulted in billions of dollars of damages. From 2010 to 2020, the Pipelineand Hazardous Materials Safety Administration reported 983 incidents that resulted in 149,000 spilled and unrecovered barrels of oil, even five fatalities, 27 injuries, and more than $2.5B in damages.