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The role of innovation and technology in sustaining the petroleum and petrochemical industry

Author

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  • Hassani, Hossein
  • Silva, Emmanuel Sirimal
  • Al Kaabi, Ahmed Mohamed

Abstract

Innovation and Technology go hand in hand within the petroleum and petrochemical industry. Oil price volatility, geopolitics, and economic uncertainty, all contribute towards the continued need to innovate and technologically advance if petroleum and petrochemical companies are to survive in this highly competitive industry. This review paper looks at identifying the importance of innovation and technology in the petroleum and petrochemical industry by referring to evidence in the public domain. Thereafter, the focus shifts towards identifying both quantifiable and non-quantifiable impacts of technology and innovation within the petroleum and petrochemical industry.

Suggested Citation

  • Hassani, Hossein & Silva, Emmanuel Sirimal & Al Kaabi, Ahmed Mohamed, 2017. "The role of innovation and technology in sustaining the petroleum and petrochemical industry," Technological Forecasting and Social Change, Elsevier, vol. 119(C), pages 1-17.
    • Handle: RePEc:eee:tefoso:v:119:y:2017:i:c:p:1-17
    DOI: 10.1016/j.techfore.2017.03.003
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    Citations

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    Cited by:

    1. Wang, Ge & Li, Yang & Zuo, Jian & Hu, Wenbo & Nie, Qingwei & Lei, Heqian, 2021. "Who drives green innovations? Characteristics and policy implications for green building collaborative innovation networks in China," Renewable and Sustainable Energy Reviews, Elsevier, vol. 143(C).
    2. V. A. Kryukov & V. V. Shmat, 2020. "Russian Petrochemical Industry in Space and Time," Studies on Russian Economic Development, Springer, vol. 31(6), pages 629-635, November.
    3. Tarighi, Sina & Shavvalpour, Saeed, 2021. "Technological development of E&P companies in developing countries: An integrative approach to define and prioritize customized elements of technological capability in EOR," Resources Policy, Elsevier, vol. 72(C).
    4. Silva, Emmanuel Sirimal & Bonetti, Francesca, 2021. "Digital humans in fashion: Will consumers interact?," Journal of Retailing and Consumer Services, Elsevier, vol. 60(C).
    5. Ali Fadul, 2021. "Does Organizational Justice Influence Employee Innovative Behavior in an Arabic Context? Evidence From the Libyan Oil Industry," SAGE Open, , vol. 11(3), pages 21582440211, September.
    6. Asongu, Simplice A. & Le Roux, Sara & Biekpe, Nicholas, 2018. "Enhancing ICT for environmental sustainability in sub-Saharan Africa," Technological Forecasting and Social Change, Elsevier, vol. 127(C), pages 209-216.
    7. Shuguang Liu & Jiayi Wang & Yin Long, 2023. "Research into the Spatiotemporal Characteristics and Influencing Factors of Technological Innovation in China’s Natural Gas Industry from the Perspective of Energy Transition," Sustainability, MDPI, vol. 15(9), pages 1-34, April.
    8. Maleki, Ali & Rosiello, Alessandro, 2019. "Does knowledge base complexity affect spatial patterns of innovation? An empirical analysis in the upstream petroleum industry," Technological Forecasting and Social Change, Elsevier, vol. 143(C), pages 273-288.
    9. Panjapornpon, Chanin & Bardeeniz, Santi & Hussain, Mohamed Azlan, 2023. "Improving energy efficiency prediction under aberrant measurement using deep compensation networks: A case study of petrochemical process," Energy, Elsevier, vol. 263(PC).
    10. Ali, Muhammad Kashif & Zahoor, Muhammad Khurram & Saeed, Asif & Nosheen, Safia & Thanakijsombat, Thanarerk, 2023. "Institutional and country level determinants of vertical integration: New evidence from the oil and gas industry," Resources Policy, Elsevier, vol. 84(C).
    11. Rosiello, Alessandro & Maleki, Ali, 2021. "A dynamic multi-sector analysis of technological catch-up: The impact of technology cycle times, knowledge base complexity and variety," Research Policy, Elsevier, vol. 50(3).
    12. Abdol Majid Saadat Nezhad & Tahmoures Sohrabi & Nasrollah Shadnoosh & Abbas Toloie Eshlaghy, 2017. "A New Approach to Challenges of Venture Capital in Financing the Industrial Clusters through Cooperative Models and Venture Funds in Iran," International Journal of Economics and Financial Issues, Econjournals, vol. 7(6), pages 111-119.
    13. Oos Kosasih & Kadarisman Hidayat & Benny Hutahayan & Sunarti, 2024. "Achieving Sustainable Customer Loyalty in the Petrochemical Industry: The Effect of Service Innovation, Product Quality, and Corporate Image with Customer Satisfaction as a Mediator," Sustainability, MDPI, vol. 16(16), pages 1-24, August.

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