Circular economy and Oil and GAS sector: A literature review

Abstract

In this Paper, previous research on circular economies and its possible applications in the oil and gas industry is thoroughly explored. This study seeks to identify and consolidate the extant literature on the circular economy and its potential to mitigate the environmental impacts of oil and gas production, as well as improve resource efficiency and economic performance. To attain this objective, the following techniques will be utilized: identifying the literature, synthesizing the literature, and identifying the literature. In this article, scholarly journals, novels, papers, and case studies are just some of the types of writing that are explored. According to the conclusions of the study, the circular economy offers the oil and gas industry significant opportunities to reduce its environmental impact. This area of possibilities includes waste minimization, a greater emphasis on recycling and reusing, and the development of closed-loop technologies. In addition, the report cites a variety of obstacles and challenges, such as technological, economic, and regulatory constraints, that prohibit the widespread deployment of circular economy strategies in the sector. These limits are problematic because they hinder the adoption of circular economy strategies. In addition, the report emphasizes the importance of stakeholder participation and collaboration for the successful adoption of circular economy ideas in the oil and gas industry. The essay provides a comprehensive introduction to the concept of a circular economy and investigates its potential applications in the oil and gas industry. The article highlights both theoretical and practical implications for policymakers and practitioners in the field.