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In the aftermath of the COVID-19 pandemic, the future of the oil and gas industry has never been more uncertain. As researchers expect global oil demand to remain below pre-COVID-19 levels, companies in the industry are under pressure to become more operationally efficient as embracing digital transformation becomes a matter of survival.
As the past 12 months have shown, the traditional approach of using IT and the CIO role to cut costs has proven ineffective at ensuring long-term growth. To survive in the future, oil and gas companies will need CIOs that take a proactive approach and invest in future-proof technologies.