Refiners to hike spending on digital technologies to cut operational costs

Vantage point: Insights from cutting-edge research

Nearly two-thirds of refiners plan to raise investments in digital technologies over the next three to five years, although digital is not one of the top plant investment areas for refiners today, according to research from Accenture. The Accenture Connected Refinery research — based on a survey of over 200 executives, functional leaders and engineers at refiners globally — shows that 57 per cent respondents said their current level of digital investment overall was more or significantly more than 12 months ago.
 
“Oil and gas refiners in India have been facing significant turbulence in recent times due to increased