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Stock impact report

Tech and energy are teaming up, creating a market that could grow 500% in the next 5 years [MSNBC.com]

Exxon Mobil Corporation (XOM) 
Last exxon mobil corporation earnings: 5/1 07:34 am Check Earnings Report
US:NYSE Investor Relations: ir.exxonmobil.com
Company Research Source: MSNBC.com
As the energy industry faces a time of reckoning — pressured by consistently low oil prices, high operating costs and a growing sustainable investing movement — oil and gas companies are increasingly turning to Silicon Valley for help streamlining operations and boosting efficiencies. By some estimates, the addressable market for digital oil and gas solutions could grow 500% over the next five to six years, saving oil producers roughly $150 billion, while creating an ever-larger market for tech companies in the highly competitive — and high margin — business of cloud computing. Opportunities for savings include cutting capital expenditures as well as selling, general and administrative operating costs and transportation operating costs. "The digital age is finally dawning for Oil & Gas … We see a market poised to erupt over the next five years," Barclays said in January in a note to clients. "The last 12 months has seen a dramatic shift in adoption, with numerous announcements of clou Show less Read more
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