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Oil and natural gas are major industries in the energy market and play an influential role in the global economy as the world's primary fuel sources. The processes and systems involved in producing and distributing oil and gas are highly complex, capital-intensive, and require state-of-the-art technology. The oil & gas industry is broken down into three segments: Upstream, or exploration and production (E&P) companies, find reservoirs and drill oil and gas wells. Midstream companies are responsible for transportation from the wells to refineries and downstream companies are responsible for refining and the sale of the finished products.

The industry can be split into three areas: power generation, transmission and distribution networks, and metering and sales. The power generation industry is a challenging commercial and regulatory environment. Circumstances change rapidly and engineers play a key role in managing this change, whether that's implementing short-term solutions quickly and safely or developing long-term solutions for the future. Renewable, including heat generated from solar, wind, ocean, hydropower, biomass, geothermal resources, and biofuels and hydrogen derived from natural resources are energy power generation–based distributed energy supply technology has become the development focus in the energy field. However, the fluctuations and intermittence of wind energy, solar energy, and other renewable energy sources increasingly sharpen the contradiction between new energy and the grid.

Network infrastructure is the organisational structure that enables the large-scale transportation of energy from producer to consumer, as well as the directing and managing of energy flow; at the same time it includes gas transportation along the pipeline. Maintaining a modern, flexible and secure network of electric power transmission and distribution lines, oil and natural gas pipelines, and storage facilities is essential to delivering affordable and reliable energy to businesses and consumers, promoting growth across all sectors of the economy, and supporting the country’s thriving domestic energy industry.

Utilities are operating in context increasingly characterized by high competitive pressure, new risk factors and new variables. On the one hand, energy predominantly assumes the character of a commodity, that is, a freely negotiable asset whose production and sale are regulated by prices that are formed according to market mechanisms; on the other hand, the trading of primary energy products, such as electricitỳ, oil, gas and renewables, becomes an activitỳ on the basis of which derivative financial products are designed and exchanged. Faced with this reality, digital innovation assumes an increasingly strategic role, providing new forms of knowledge and new tools that increase access to information, precision in identifying market opportunities and threats, in analyzing impacts and in the assessment of consequences. Digital in particular is changing the logic and methods of the E&U market.

The energy transition is a pathway toward transformation of the global energy sector from fossil-based to zero-carbon by the second half of this century. At its heart is the need to reduce energy-related CO2 emissions to limit climate change. Decarbonisation of the energy sector requires urgent action on a global scale, and while a global energy transition is underway, further action is needed to reduce carbon emissions and mitigate the effects of climate change. Renewable energy and energy efficiency measures can potentially achieve 90% of the required carbon reductions. The energy transition will be enabled by information technology, smart technology, policy frameworks and market instruments.