Saving Energy in the Oil and Gas Industry

Abstract

Abstract Hydrocarbons will remain essential to global economic development and prosperity for decades to come. Meeting rising energy demand needs to be reconciled with the goals of energy security and environmental protection. Energy efficiency and conservation can make a major contribution to moving the world onto a more sustainable energy path. Most of the potential for saving energy lies with end users, yet the oil and gas industry continues to invest heavily in further improving the energy efficiency of its own operations, reducing waste and helping final consumers to use less fuel. Major challenges remain, notably in countering the increased use of energy to exploit less accessible crude oil resources and to meet tougher fuel quality standards. The oil and gas industry, as a stakeholder in the energy debate, will play its part in further promoting rational energy use all along the supply chain for the good of everyone. Enhancing energy efficiency is an important issue for IPIECA members, and companies can contribute by implementing changes in their operations, planning and investments. There are many positive drivers for industry as energy efficiency can help in lowering operating costs and reducing environmental impacts. Energy efficiency can also extend the life of finite natural resources, and help keep energy affordable for consumers by lowering the investment costs and the effort required to meet rising demand. This paper draws on the new IPIECA publication, Saving Energy in the Oil and Gas Industry, which was launched at the 15th Session of the Commission for Sustainable Development. Case studies featured in the publication are included in the appendix.