Building up Supply Chain Resilience: Blockchain Technology in the Oil and Gas Industry

In 2020, The Oil and Gas industry was heavily disrupted by COVID-19. The industry is usually well prepared to face external disruptions, yet the novelty and global reach of COVID-19 surprised the industry and disturbed its supply chains. The solution revolves around technology adoption in their supply chains. This study aims to determine the resilience of the supply chains can be enhanced by new technologies. Specifically, it investigates the use of blockchain as a solution to SC problems in the Oil and Gas industry through a three-themed literature review. The first studies and reports on the reluctant adoption of technologies by companies in the industry. The second investigates the way blockchain could salvage the supply chains. The third compares the risks of implementing blockchain or not. The results show that if the big players accept to implement blockchain, it can enhance resilience of the supply chains and dimmish the risks