Oil & Gas

An industry that explores, extracts, and refines petroleum and natural gas resources.

Threats & Risks

Equipment failure

The oil and gas industry involves complex machinery, and any malfunction or failure can lead to equipment downtime or even accidents.

Natural disasters

The oil and gas industry can be vulnerable to natural disasters such as hurricanes, tornadoes, and earthquakes, which can cause extensive damage to infrastructure and disrupt operations.

Fire and explosion

The flammable nature of oil and gas products makes the industry susceptible to fire and explosion, which can result in property damage, loss of life, and environmental damage.

Environmental disasters

The oil and gas industry can cause environmental disasters such as oil spills, which can result in damage to ecosystems, loss of wildlife, and harm to human health.

Ransomware attacks

Ransomware is a type of malware that encrypts the victim's files, and the attacker demands payment in exchange for the decryption key. A successful ransomware attack can result in severe disruptions to operations and financial losses.

Phishing attacks

Phishing is a technique used by attackers to trick users into providing sensitive information, such as usernames and passwords, by posing as a trustworthy entity. Phishing attacks can lead to data breaches, financial losses, and reputational damage.

Insider threats

Insider threats are posed by employees or contractors with authorized access to sensitive data or systems. They can intentionally or unintentionally cause harm to the organization by stealing data, disrupting operations, or introducing malware.

Distributed denial-of-service (DDoS) attacks

DDoS attacks involve overwhelming a network or server with traffic to disrupt services or make them unavailable. DDoS attacks can cause significant financial losses and damage to the reputation of the organization.

Phishing and Spear-phishing attacks

These attacks use emails, instant messaging, or other communication methods to trick employees into giving away sensitive information or installing malware on their computers.

Insider threats

Employees, contractors, or other insiders with access to sensitive information may intentionally or unintentionally leak information or use it for personal gain.

Third-party risks

Oil and gas companies work with many third-party vendors, contractors, and partners, who may have access to sensitive information. These third-party organizations may also be targeted by cybercriminals, leading to a data breach.

Weak cybersecurity controls

Poorly secured networks, weak passwords, and unpatched software vulnerabilities can make an oil and gas company an easy target for cybercriminals.

Power Outages

Power outages can occur due to equipment failures or weather-related events, leading to IT service disruptions. The oil and gas industry requires a constant power supply to operate its facilities and maintain its IT infrastructure. Power outages can cause data loss and system downtime.

Hardware and Software Failures

Hardware and software failures can cause IT service disruptions. These can result from system crashes, data corruption, or equipment failures. The oil and gas industry needs to ensure that its IT infrastructure is regularly maintained and updated to avoid these failures.

Human Error

Human error is a significant threat to IT service continuity. Employees can accidentally delete critical data, misconfigure systems, or introduce malware into the IT infrastructure.

Supply Chain Disruptions

The oil and gas industry relies on a complex network of suppliers, distributors, and logistics providers. Any disruption in this network, such as supplier bankruptcy, transportation issues, or equipment failure, can have a significant impact on the company's operations.

Oil Price Volatility

The oil and gas industry is subject to price volatility, which can lead to fluctuations in revenue and profitability. A sudden drop in oil prices could impact the company's ability to maintain operations or meet financial obligations.

Health and Safety Risks

The oil and gas industry involves working with hazardous materials and in potentially dangerous conditions. Health and safety risks to workers, such as accidents or exposure to toxic chemicals, can impact the company's operations and reputation.

Standards Compliance Requirement

Standards	Requirement	Clauses
ISO 45001	Occupational Health & Safety management system	6.1.2.1 – Hazard identification 8.2 Emergency Preparedness and Response
ISO 14001	Environmental Management Standard	8.2 Emergency Preparedness and Response
ISO 27001:2022	Information Security Management System (ISMS)	5.24 – Information security incident management planning and preparation 5.26 Response to information security incidents
ISO 22301	Security and resilience	Clause:8 8.5 – Operations
ISO 27701	Privacy information management systems	Clause : 6.1 Monitoring, Measurement and Analysis 6.1 – Monitoring, Measurement and Analysis