Key things you should know about Energy industry in 2024-2025
07.10.24, Пн, 09:41, Мск,
Energy is one of the sectors on which the well-being of individual states and societies directly depends. Therefore, information about what can be expected soon and what significance it will have is always relevant. Even though predictions for the year 2024-2025 can be found very diverse - even contradicting each other - in this text we share some of the most important predictions. Let us have a look at a few key things that are a must to know!
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Challenges for oil and gas companies
Global leaders have agreed on transition from fossil fuels in energy systems and to achieve net zero by 2050. This means that fossil fuels will lose their importance in the long run and they will not be as in demand as they are now. Of course, as the transition will be gradual, fossil fuels will still play a huge role in the near future.
Nonetheless, oil and gas companies cannot remain the same in this context of changes. That is why they are updating their sustainability strategies as people are starting to focus on clean energy technologies more.
The change in position on nuclear energy
Even though nuclear energy is being considered as unsafe and does not have the big public acceptance, it is seen as a great solution to the energy crisis. Although some European countries seek to abandon nuclear energy, recent years have clearly shown that this type of energy production is one of the most stable and provides security in an economic sense, i.e. allowing us to be energy independent from neighboring countries and political context.
Although it is difficult to draw conclusions, it can be assumed that an increasingly favorable attitude towards nuclear energy will influence changes in the future. Who knows, maybe nuclear energy will become extremely significant once again, as it was in the past.
Innovative clean energy technologies
Many countries face a strong need for renewable energy technologies. Responding to the call to fight climate change, people prefer renewable energy over fossil fuel-based energy sources. Many have solar panels on the roofs of their houses and use solar energy daily.
Seeing the trends of recent years, it can be predicted that clean energy technologies will continue to improve, and their demand will grow increasingly in the future. One can only guess what significance this will have for society and business as well.
Competitiveness among companies
It is clear that the mentioned changes directly affect the activities of companies operating in the energy sector. The desire to abandon fossil fuel until 2050 and the supply of new clean energy technologies creates competition between different companies. Therefore, intensive communication campaigns are currently being carried out, with which different companies achieve their goals.
Companies understand that they cannot move on with the same pace if they do not change. That is why various solutions are being looked for, such as optimization solutions for energy sector, etc.
The digital transformation
As competition between companies grows, there is a need to find ways to make processes more efficient, ensure greater speed and precision, and employee safety. The number of such opportunities is gradually increasing and one of the most important of them is digitalization which also means automation or process optimization as well.
In other words, companies use innovative methods that would allow them to get the desired results faster or with simpler means. Only by being one step ahead of others can they be sure to maintain their position in the market. Otherwise, the attempt to stay in leadership positions with old methods will most probably be unsuccessful.
