LONDON, March 6, 2018 /PRNewswire/ --

FN Media Group Presents OilPrice.com News Commentary 

Big Oil is finally going digital. Between artificial intelligence, big data, the Internet of Things, and computer learning, the entire industry is undergoing a huge transformation. Included in today's commentary: General Electric Company (NYSE: GE), Intel Corporation (NASDAQ: INTC), Exxon Mobil Corporation (NYSE: XOM), Halliburton Company (NYSE: HAL), PayPal Holdings, Inc. (NYSE: PYPL). 

Robots are running oil and gas rigs, drones are scouting fields, and tiny interconnected micro-sensors are transporting critical infrastructure data across the world in the blink of an eye.

But there will be winners and losers in this race to digitize the industry. This is a turning point for Big Oil. Adopt or die. And it is the companies that prioritize tech that are poised to succeed.  

The industry is entering a new era, and it's time to ditch the tried and tested methods for something brand new. 

These 5 companies are at the top of the food chain, set to turn the energy industry upside down, and perhaps enjoy some of the big profits the industry has to offer.

#1 GE (NYSE: GE)  

General Electric is a household name. As a leader in industrial manufacturing, but more importantly, a top contender in the energy sector, GE's technological know-how is second to none.

While 2017 proved to be a tough year for General Electric due to some untimely bets on natural gas peaker plant tech, GE's forward-thinking posture in the field has caught the eye of those really paying attention.  

General Electric is utilizing some of the most ground-breaking tech in energy, especially in the oil and gas sector. Often overlooked, GE's innovative use of drones has quietly reshaped oil and gas exploration and production. 

In 2016, GE unveiled a helicopter drone in Fayetteville Arkansas which detects and monitors emissions of methane from oil and gas wells. These drones have the potential to unlock previously unknown stashes of crude: a game changer for the industry 

GE is also getting into the Big Data game.  

In its high-profile partnership with Apple, the two have developed the Predix platform, a platform which will allow industrial companies to utilize Big Data in ways never before seen.  

The Predix is able to access and analyze data from thousands of micro-sensors in refineries across the world, providing companies the opportunity to harness the true power of data in order to detect anomalies, predict maintenance, and optimize performance. This means companies adopting this platform stand to gain big. And if money is being made, it's sure to pay off nicely for investors. 

But GE's digital push doesn't stop there. The company is also on the forefront of the blockchain revolution.  

Researchers are currently looking at ways to utilize the tech to bring renewable producers and customers together in new ways. John Carbone, a principal engineer at GE Global Research, explains: "Through blockchain, we think there's an opportunity to create a marketplace where we can connect these participants."

#2 Petroteq Energy Inc. (PQE.V; PQEFF) 

Petroteq Energy Inc. is a special addition to this list. A small company with huge potential. 

Petroteq is aiming to become a major player in the oil and gas industry thanks to its appreciation of technology.  

This innovator has developed a one-of-a-kind oil production technology that has the potential to unlock millions of barrels of oil: cheap and clean. And it plans to lease this technology to drillers around the world. This should be a profitable venture indeed. 

Oil sands carry an incredibly dirty PR image. High emissions, toxic trailing ponds, and expensive extraction methods that have become the bane of environmental groups and the focus of disinvestment campaigns. 

Using proprietary technology that employs a closed-loop system and a unique solvent that cleanly extracts heavy oil, Petroteq's new system removes 99 percent of all hydrocarbons sand, requires no water, and generates no greenhouse gas emissions. All of this for only a projected $22 per barrel.

The often-neglected oil sands in Utah's Unitah basin has been a nuisance to oil majors eager to tap into its estimated 32 billion barrels, but only one company has generated production from this tough terrain. Petroteq. 

And this is only the tip of the iceberg.  

Worldwide, there are incredible opportunities for the licensing of this breakthrough oil sands tech. Canada alone has over 170-billion barrels of oil trapped in Alberta's oil sands. While the technology has proven to work best for dry oil sands, which is found in most of these listed countries, it may eventually be modified to be used in wet oil sands too, like those in Canada.  

In addition to its revolutionary oil sands production technology, Petroteq has also joined the blockchain race.  

Often referred to as "the new internet," blockchain technology is already reshaping the world's most important industries.

Utilizing the same blockchain technology as used by IBM, rated the world's top blockchain company, Petroteq has formed a consortium under the name of PetroBLOQ. 

With blockchain, PetroBLOQ is looking to turn the industry's supply chain on its head. Upstream, midstream, and downstream transactions could all be completely transformed, saving the entire sector billions in costs.

As The Economist put it  last year, "The world's most valuable resource is no longer oil, but data." And Petroteq is ready to profit from both.

#3 Intel (NASDAQ: INTC)

As the world's second largest semiconductor chip maker, Intel is a world leader in tech. As such, it is poised to see tremendous gains from the digitalization trend happening in energy.  

The company's "Intel Insider" slogan has become its claim to fame. As the creator of the world's first microprocessor chip in 1971, Intel paved the way for the personal computer. Arguably the most disruptive piece of technology ever created. 

But Intel's genius doesn't stop there. Now it's set its sights on the world's biggest industry.

Its Internet of Things platform offers unique solutions in the oil and gas industry. From optimizing resource recovery to lowering costs across the board, Intel's highly specialized technology is sure to fill the pockets of everyone involved. 

The company has also created the Intel Scalable System Framework and High Performance Computing platform which allows oil and gas companies to process data that is vital within the industry. The platform allows drillers to analyze seismic data and perform reservoir simulations that will save the industry millions. 

Additionally, Intel is producing functional commercial drones for the industry. These small, unmanned units can be used to inspect rigs, capture thermal images of flare stocks, and evaluate underdeck cooling towers.  

The entire oil and gas industry is racing to reduce costs, and technology is in the driver's seat. Even oil majors are seeking the help of Intel to stay afloat, and savvy investors are taking note of this trend, getting in while the getting is still good.

#4 ExxonMobil (NYSE: XOM) 

ExxonMobil is one the largest and most profitable oil companies in the world. And that's largely thanks to their use of technology. 

Over 50 years ago, Exxon pioneered a new technology that has since become ubiquitous in the industry. 3D seismic imaging. Using sound waves, Exxon was able to map geological formations, a revelation that changed the way drillers searched for and extracted oil. 

But it didn't stop there. More recently, the supermajor took it one step further. With Full Wavefield Inversion, an advanced 4D seismic surveying technology that uses supercomputing and time-lapse imaging to obtain images of the subsurface, Exxon once again positioned itself ahead of the pack.

Exxon's drilling tech is especially noteworthy. The company is now drilling longer horizontal wells than anyone else. It's 3-mile Bakken shale well was a landmark in the industry, and now it's working on a 4-mile well, which, according to Barclays, will be "a game changer that could potentially allow the company to leap frog the competition in unit cost and return metrics." 

Despite Exxon's late entry to the shale game, the company is still light years ahead of its competition in terms of profits.

Not only is Exxon held a key role in bringing the oil and gas industry into the modern era, the company is also a world leader in the development of biofuels and fuel cells.  

Spending approximately $1-billion per year on the research and development in new energy technologies, Exxon is sure to continue on its path of innovation for years to come. Investors can rest assured; this research will pay off for them.

#5 Halliburton (NYSE: HAL) 

Halliburton is one of the largest oilfield services companies in the world. The company has secured its place in the oil and gas industry. But it didn't happen overnight. 

The oilfield services sector is highly competitive and ripe with innovation. In order to stay ahead, companies must be on the absolute cutting edge of technology. And that's exactly what Halliburton has done.  

And recently, Halliburton increased the heat for its competition. Partnering with Microsoft, Halliburton is securing its position as a leader in the industry.  

This partnership is significant. Microsoft, a leader in the tech world, is looking to bring machine learning, augmented reality, and the Industrial Internet of Things to the oil and gas industry. 

The marriage between Big Oil and Big Data will usher in a new era in energy. 

In a joint release, the companies announced: "The relationship will combine the expertise of a global leader in cloud and digital transformation with a global leader in exploration and production (E&P) science, software and services." 

Together, the two companies will utilize some of the most ground-breaking digital technology in existence to lower costs, reduce emissions, and access data in a brand new way.

This is the future of oil and gas. Industry heavyweights are scrambling to work with tech companies, and tech companies are opening up to the idea. The incredible advancements in tech over the past several years has opened up a new realm of possibilities in energy.  

Investors can't ignore this. These high-profile partnerships are only a glimpse of things to come. The oil and gas industry has been primed for disruption, and the cracks are beginning to form. There will soon be a turning point, where companies like Haliburton, and its focus on tech, will survive, and others, which have ignored the inevitable, will fall.

Other innovative tech companies to watch: 

PayPal (NYSE: PYPL) is the leading innovator in on-line banking and electronic transactions, PayPal acquired a new product in 2014: Venmo, an electronic repayment software, which found massive appeal for people looking for an easy way to split bar-tabs, pay back friends and move money easily back and forward between accounts. An acquisition that came with PayPal's $800 million purchase of Braintree in 2014, Venmo is a major part of PayPal's new portfolio. 

The company has some 184 million active users and 14.5 million merchants. In 2015 it generated $9.2 billion in revenue and its stock has been soaring for years. The price has ticked up 70 percent in 2017, leaving its old parent Ebay in the dust and indicating that the company, which used to be a limited platform for online transactions, has moved into the next phase of its lifespan. As the energy industry moves into the future, look for this innovative giant to capitalize. 

By Joao Peixe 

**IMPORTANT! BY READING OUR CONTENT YOU EXPLICITLY AGREE TO THE FOLLOWING. PLEASE READ CAREFULLY** 

Forward-Looking Statements 

This news release contains forward-looking information which is subject to a variety of risks. Forward looking statements in this release include that PETROTEQ will be able to produce oil as currently scheduled, at the rates of production announced and at the targeted low prices from its Utah property; that PETROTEQ will successfully develop a blockchain supply chain solution for the oil industry; that it will have customers and contracts for its supply chain technology; that PETROTEQ will find licensees for its; and that blockchain technology will help PETROTEQ create a supply chain management system which can handle all transactions. Risks that could change or prevent these statements from coming to fruition include that the Company's patents and other technology protection are not valid; production of oil may not be cost effective as expected, technology development costs may be much higher than expected, there may be construction delays and cost overruns at the production plants;, PETROTEQ may not raise sufficient funds to carry out its plans; blockchain technology may not be developed to be as useful as expected and PETROTEQ may not achieve its business plans; competitors may offer better technology; and despite the current expected viability of its projects, that the oil cannot be economically produced with its technology. Currently, PETROTEQ has no revenues.

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