Institute of Petroleum Studies

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September 2nd, 2021 About the Bulletin
• About the Bulletin
This bulletin is written by students of the Centre for Oil and Gas
• Internet of things
Technology at IPS.
• Petroleum Updates
The content and views expressed in this document reflect only
the opinion of the authors and not of the School.

INTERNET OF THINGS (IoT)

Over the years, the energy industry has experienced relevant technologies to facilitate the connection
transitions in technology. With challenges and exchange of data between devices or
encountered in the operation and control of systems over the internet. With the application
machineries, the need to develop smart tools to of internet of things in industrial operations
mitigate the challenges and enhance productivity with emphasis placed on the energy industry, a
is paramount. With growth and development being significant improvement in data management,
a driving force behind the operation of the energy control of sophisticated equipment is observed.
industry, devices have been developed to promote
communications between physical devices and
human to aid production processes. As such, the
developed devices are connected by a network
generally known as “internet of things”.

Internet of Things (IoT) gives a description of a

network of physical objects - “things”- that are Source: Forbes.com

embedded with sensors, software, and other As seen above, IoT plays a key role in revolutionizing
the energy industry, some notable applications

Petroleum Updates include the following; Remote asset monitoring

Crude oil spot prices rise:
WTI - $67.75
UK Nat Gas - $4.462
and management, Improved grid management,
Automated processes, Smart energy meters and
Brent - $71.00
Bonny Light - $70.63 smart building.

Shell pays $111m over 1970s oil spill in Nigeria