Global Journal of Environmental Science and Technology

ISSN 2360-7955

A Review of Climate Change Impacts to the Crude Oil Sector: Challenges, Prospects and the Way Forward

Abstract: Since its operations have a profound impact on every productive area of the economy and the population, the oil industry is a crucial component of the global energy sector. Crude oil and oil products continue to be the primary energy source for the production of electricity and the primary source of thermal power, and they have long accounted for the majority of gross inland energy consumption. The oil industry is already being negatively impacted by climate change, which jeopardizes its ability to operate reliably and expand. Climate change and extreme weather phenomena, such as hurricanes, high winds, lightning strikes, storm surges, flooding, etc., represent an additional challenge to the oil supply chain from upstream to downstream because oil infrastructure has multi-decadal lifetime forecasts. This study reviewed frameworks for assessing climate change risk, examined how climate change is affecting oil infrastructure, and identified a knowledge deficit. In a thorough danger threshold matrix, the study provides an overview of the relationships between climate and the design, operational, and service thresholds for the oil sector. The study of existing risk assessment approaches that take into consideration current regulatory frameworks and dependencies with other infrastructures results in recommendations for sector resilience, mitigation, and adaptation.



 Climate Change, Crude Oil Sector, Hazard, Impacts, Temperature, Flooding