Oil firms are embracing digital tech to drive operational efficiency

IOCL is using digital to align its business with welfare initiatives of the govt

As economic growth and rising income levels continue to trigger demand for oil and gas in India, refiners are set to focus more on digital technology. According to a recent study by Accenture, although digital is not one of the top plant investment areas for refiners globally today, nearly two-thirds plan to increase investments in digital technology in the next three to five years.

The example of Indian Oil Corporation Ltd (IOCL) indicates that domestic companies are adopting digital technology for business innovation and operational efficiencies. The company’s strategic road map for IT and digital technologies has been designed to