Saturday, January 28, 2023
  • Submit news
  • Contact
  • DMCA
  • Cookie Privacy
  • Privacy Policy
  • Terms of Use
Oil Market News
  • Home
  • Marketdaily
  • Price
  • crudenow
  • Companies
  • politics
  • Gas
  • investing
  • Stock
  • OPEChot
  • brend
  • ships
Oil Market News
Home Gas

Strengthening cyber resilience in the oil and gas industry

1 week ago
in Gas
Strengthening cyber resilience in the oil and gas industry
Share on FacebookShare on Twitter


The impact.

Latest Oil News

Focus on Water & Wastewater Treatment, Oil & Gas, Chemicals & Petrochemicals,

Internet of Things-as-a-Service to Enable Improved Opportunities

January 27, 2023
Northern Oil and Gas jumps 7% on SmallCap 600 index inclusion … – Seeking Alpha

Northern Oil and Gas jumps 7% on SmallCap 600 index inclusion … – Seeking Alpha

January 26, 2023
Banks haven’t lost their appetite for fossil fuels just yet

Banks haven’t lost their appetite for fossil fuels just yet

January 25, 2023
The Single Oil Spill that Can Disrupt the Global Energy Supply – USC Viterbi

The Single Oil Spill that Can Disrupt the Global Energy Supply – USC Viterbi

January 24, 2023

The oil and gas industry uses a range of complex systems and interconnected technologies to extract, transport and refine oil and gas products. While these these technologies are necessary to support the delivery of energy services and products, they are increasingly vulnerable to cyberattacks thus making cybersecurity critical to collective resilience.

The World Economic Forum’s Centre for Cybersecurity launched in 2020 the Cyber Resilience in Oil and Gas initiative as part of its efforts to strengthen cybersecurity across multiple industries. The initiative comprises of a community of over 40 public and private organizations working together to drive forward collective action on cyber resilience.

One of the key initiatives of the community is the Cyber Resilience Pledge. A first-of-its-kind, the pledge is endorsed by 21 oil and gas chief executives committed to taking a common approach to cyber resilience and protecting digital infrastructure and assets in the sector.

Pledge endorsers include Aker, Check Point Software Technologies, Claroty, Cognite, Dragos, Ecopetrol, Eni, EnQuest, Galp, Global Resilience Federation, Institute for Security and Safety (ISS), KnowBe4, Maire Tecnimont, Occidental, OT-ISAC, PETRONAS, Repsol, Shell, Saudi Aramco, Schneider Electric and Suncor Energy.

By signing the Cyber Resilience Pledge, all parties endorsed the cyber resilience principles to guide leadership and board members through the process of cultivating a cyber-aware and resilient corporate culture.

“One company working alone is effectively like locking the front gate while leaving the back door wide open. We must work together if we want to truly protect the critical energy infrastructure that billions of people around the world depend upon.”

— Amin H. Nasser, President and Chief Executive Officer, Saudi Aramco

The challenges of cybersecurity in the oil and gas industry.

The oil and gas industry powers the global economy and is vital to national security. For this reason, protecting this part of the critical infrastructure is fundamental for maintaining the security of people and stability of societies.

With a heavy reliance on technology and information systems to operate, a successful cyberattack against an oil and gas company could have serious consequences, such as operational disruptions, economic losses, reputation damage and even environmental harm.

“Critical infrastructure security is at a pivotal juncture, where threats are proliferating and evolving, but there’s also a growing collective interest and desire in protecting our most essential systems.”

— Yaniv Vardi, Chief Executive Office, Claroty

To illustrate, an attack against a major US pipeline system in 2021 not only resulted in the disruption of operations and financial losses for the company, but also had a cascading effect on other industries. For example, the aviation sector saw disruptions due to jet fuel shortages, and the fear of a gasoline crisis caused panic buying, which in turn led to price spikes at gas stations across the US.

Additionally, during times of geopolitical conflict, the oil and gas sector, as the owner and operator of critical infrastructure, is a target for nation-state actors, hacktivists, and other attackers motivated by political, economic, or strategic interests. For example, prior to the Ukraine crisis, at least 21 gas producers in the US experienced cyberattacks targeting the production, exportation and distribution of liquified natural gas.

Our approach to strengthening cyber resilience.

The Cyber Resilience in Oil and Gas initiative is a programme that brings together a multistakeholder community of more than 100 senior executives and practitioners from the oil and gas and ICT industries. By involving a diverse group of stakeholders from multiple industries, the initiative aims to foster collaboration and information sharing.

The Cyber Resilience Pledge was launched at the Annual Meeting in Davos in 2022. It is based on six guiding principles for cyber resilience that are specific to the oil and gas industry. These principles are designed to help boards of directors take action on cybersecurity within their organizations.

In addition to the Cyber Resilience Pledge, the initiative has also developed several other resources and tools. One of these is a harmonized and streamlined approach for managing third-party cyber risks. With the increasing use of third-party vendors and service providers in the oil and gas industry, managing these risks has become a critical issue. The initiative has provided a framework for companies to assess and mitigate these risks in order to help them ensure the protection of their digital infrastructure and assets.

Another key area of focus is the zero-trust model in cybersecurity which has been subject to a lot of confusion and misunderstanding. To develop a shared understanding of the security model, the community has outlined a set of guiding principles for its successful implementation, providing a valuable resource for companies looking to improve their cybersecurity readiness.

The initiative has also launched a guidebook to help organizations and their cyber leaders along a cyber secure and resilient energy transition journey. This guidebook is intended to support executives manage the energy transition while embedding cybersecurity and resilience into corporate processes and in the design of green technologies.

“It is imperative that actors from the industry join strengths and cooperate to make the cyberspace safer and more resilient. We invite other industry players to join this collective effort to deliver sustainable, safe, and reliable energy.”

— Barbara Frei, Executive Vice-President and Chief Executive Officer, Industrial Automation, Schneider Electric
Source: World Economic Forum





news.google.com

Tags: cyberGasindustryoilresilienceStrengthening
Previous Post

U.S. stocks higher at close of trade; Dow Jones Industrial Average up 1.00% By

Next Post

ESG Litigation and Regulatory Enforcement Actions: Positioning Your Company to Avoid

Related Posts

Focus on Water & Wastewater Treatment, Oil & Gas, Chemicals & Petrochemicals,

Internet of Things-as-a-Service to Enable Improved Opportunities

by Oil Market News
January 27, 2023
0

DUBLIN, Jan. 27, 2023 /PRNewswire/ -- The "Global Process Gas Reciprocating and Centrifugal Compressor Services Market in the Oil and...

Northern Oil and Gas jumps 7% on SmallCap 600 index inclusion … – Seeking Alpha

Northern Oil and Gas jumps 7% on SmallCap 600 index inclusion … – Seeking Alpha

by Oil Market News
January 26, 2023
0

Northern Oil and Gas jumps 7% on SmallCap 600 index inclusion ... Seeking Alpha news.google.com

Banks haven’t lost their appetite for fossil fuels just yet

Banks haven’t lost their appetite for fossil fuels just yet

by Oil Market News
January 25, 2023
0

Oil Price Following the signing of the Paris Agreement by 193 states and the EU and after the COP27 climate...

The Single Oil Spill that Can Disrupt the Global Energy Supply – USC Viterbi

The Single Oil Spill that Can Disrupt the Global Energy Supply – USC Viterbi

by Oil Market News
January 24, 2023
0

LNG Oil tanker supplying liquefied gas to the Lng terminal Over the last year, the world’s energy market has been...

Carbon capture talks being blocked by tensions between Ottawa, Alberta: oil group

Carbon capture talks being blocked by tensions between Ottawa, Alberta: oil group

by Oil Market News
January 23, 2023
0

The chief executive of Cenovus Energy Inc on Monday said friction between the federal and Alberta governments was making it...

Beetaloo gas fracking could start soon, despite NT government delay in implementing

Beetaloo gas fracking could start soon, despite NT government delay in implementing

by Oil Market News
January 22, 2023
0

The gas industry's peak body says licences to begin fracking in the Northern Territory could be issued in a month,...

Next Post
ESG Litigation and Regulatory Enforcement Actions: Positioning Your Company to Avoid

ESG Litigation and Regulatory Enforcement Actions: Positioning Your Company to Avoid

Subscribe
Notify of
guest
guest
0 Comments
Inline Feedbacks
View all comments

Trend Oil News

PM calls on Saudi to ‘pump more oil’

PM calls on Saudi to ‘pump more oil’

7 months ago
Is Blueknight Energy Partners Pref Units Series A (BKEPP) a Smart Choice in Oil & Gas

Is Blueknight Energy Partners Pref Units Series A (BKEPP) a Smart Choice in Oil & Gas

7 months ago
Oil Executives Privately Contradicted Public Statements on Climate, Files Show

Oil Executives Privately Contradicted Public Statements on Climate, Files Show

5 months ago
Biden to float tax penalties on oil companies reaping record profits

Biden to float tax penalties on oil companies reaping record profits

3 months ago
A fluke or the future? Rep. Lauren Boebert shakes up Colorado district

A fluke or the future? Rep. Lauren Boebert shakes up Colorado district

9 months ago
ADVERTISEMENT
Bob Simpson’s TXO Energy goes public, soars 10% on first trading day

Bob Simpson’s TXO Energy goes public, soars 10% on first trading day

January 27, 2023

Internet of Things-as-a-Service to Enable Improved Opportunities

January 27, 2023

U.S. lawmakers ask Kerry to urge UAE to replace oil boss as COP28 president By

January 27, 2023

White House blasts Big Oil stock buybacks again as Chevron profits double

January 27, 2023

OPEC to Stay the Course on Oil Production Agreement; China’s Reopening Bullish for

January 27, 2023

Trinity To Spud Jacobin Well In Second Quarter Of 2023

January 27, 2023

Crude Oil

German Crude Oil Imports Rose 11% in 2022 As Crude Import Bill Doubles

German Crude Oil Imports Rose 11% in 2022 As Crude Import Bill Doubles

January 27, 2023
Europe Is Diversifying Its Diesel Sources Ahead Of Ban On Russian Fuel

Europe Is Diversifying Its Diesel Sources Ahead Of Ban On Russian Fuel

January 26, 2023
Opinion | Should the Strategic Petroleum Reserve Be Used Now?

Opinion | Should the Strategic Petroleum Reserve Be Used Now?

January 25, 2023
Rising Crude, Oil Products Inventories Weigh On Oil Prices

Rising Crude, Oil Products Inventories Weigh On Oil Prices

January 24, 2023

Investing

U.S. lawmakers ask Kerry to urge UAE to replace oil boss as COP28 president By

U.S. lawmakers ask Kerry to urge UAE to replace oil boss as COP28 president By

January 27, 2023
ESG Investing Fight Is Heating up in Kentucky and Could Cost Taxpayers

ESG Investing Fight Is Heating up in Kentucky and Could Cost Taxpayers

January 26, 2023
Chevron goes big with new $75 billion buyback, surpassing Exxon’s By Investing.com

Chevron goes big with new $75 billion buyback, surpassing Exxon’s By Investing.com

January 25, 2023
Oil falls $2/barrel on economic jitters, U.S. crude stock build By Reuters

Oil falls $2/barrel on economic jitters, U.S. crude stock build By Reuters

January 24, 2023

Market

Chevron profits slip as oil and gas prices fall

Chevron profits slip as oil and gas prices fall

January 27, 2023
Big Oil’s cash bonanza | Financial Times

Big Oil’s cash bonanza | Financial Times

January 26, 2023
NYC pension schemes test support for climate action at bank meetings

NYC pension schemes test support for climate action at bank meetings

January 25, 2023
Oilfield services groups cheer ‘structural upcycle’ after highly profitable year

Oilfield services groups cheer ‘structural upcycle’ after highly profitable year

January 24, 2023

OPEC

OPEC to Stay the Course on Oil Production Agreement; China’s Reopening Bullish for

OPEC to Stay the Course on Oil Production Agreement; China’s Reopening Bullish for

January 27, 2023
Biden vowed to punish Saudis over OPEC cut. That’s no longer the plan

Biden vowed to punish Saudis over OPEC cut. That’s no longer the plan

January 26, 2023
Oil Steadies as Traders Look to China, OPEC for Fresh Triggers

Oil Steadies as Traders Look to China, OPEC for Fresh Triggers

January 25, 2023
FG tasks 2023 OPEC’s President on attracting investments in oil

FG tasks 2023 OPEC’s President on attracting investments in oil

January 24, 2023
  • Submit news
  • Contact
  • DMCA
  • Cookie Privacy
  • Privacy Policy
  • Terms of Use

© 2022 OilMarket.News

No Result
View All Result
  • Home
  • Market
  • Price
  • crude
  • Companies
  • politics
  • Gas
  • investing
  • Stock
  • OPEC
  • brend
  • ships

© 2022 OilMarket.News

wpDiscuz
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.