Cybersecurity is a critical concern for the oil and gas industry as it relies heavily on technology and connected systems to operate efficiently. In this blog post, we will explore key statistics related to cybersecurity in the oil and gas industry, highlighting the growing threats, vulnerabilities, and the importance of implementing robust security measures. Stay tuned to gain valuable insights into the state of cybersecurity in one of the most crucial sectors of the global economy.
The Latest Cybersecurity In The Oil And Gas Industry Statistics Explained
According to Deloitte’s survey, 100% of oil and gas companies rank cybersecurity as a top five risk management issue.
The statistic “According to Deloitte’s survey, 100% of oil and gas companies rank cybersecurity as a top five risk management issue” indicates that all oil and gas companies surveyed by Deloitte consider cybersecurity to be one of the top five concerns when managing risks within their industry. This statistic highlights the significant importance that oil and gas companies place on cybersecurity measures to protect their operations, assets, and data from cyber threats. It suggests that industry players recognize the potential vulnerabilities inherent in their sector and are actively prioritizing cybersecurity strategies to mitigate these risks and safeguard their business operations.
One-third (33%) of oil and gas organizations experienced an increase in cyber threats since remote work surged across the globe in 2020.
The statistic states that one-third (33%) of oil and gas organizations reported an increase in cyber threats following the surge in remote work in 2020. This suggests that a significant proportion of companies in this industry faced higher risks of cyber attacks as a result of the shift to remote working arrangements. The rise in cyber threats can be attributed to the increased reliance on digital resources and communication channels during the pandemic, which created new vulnerabilities for cybercriminals to exploit. This highlights the importance for oil and gas organizations to prioritize cybersecurity measures and invest in robust systems to protect their sensitive data and operations in an increasingly digital and remote working environment.
Over 90% of all cybersecurity incidents in the oil and gas industry involve phishing and spear-phishing.
The statistic indicating that over 90% of all cybersecurity incidents in the oil and gas industry involve phishing and spear-phishing suggests that these industries are particularly vulnerable to these types of cyber attacks. Phishing and spear-phishing are common tactics used by malicious actors to deceive employees into disclosing sensitive information or clicking on harmful links, leading to security breaches and data theft. The high prevalence of these types of attacks in the oil and gas sector highlights the importance of implementing robust cybersecurity measures, such as employee training, multi-factor authentication systems, and regular security assessments, to mitigate the risks associated with cyber threats and safeguard critical operations and data within these industries.
44% of oil and gas companies see cloud security as the biggest cybersecurity challenge.
The statistic that 44% of oil and gas companies see cloud security as the biggest cybersecurity challenge indicates a significant concern within the industry regarding the protection of data and systems stored in the cloud. This finding suggests that a substantial portion of oil and gas companies view cloud security as a priority issue, potentially due to the sensitive nature of the data they handle, such as proprietary drilling technology or operational information. The emphasis on cloud security highlights the industry’s recognition of the risks associated with storing data on remote servers and the need for robust cybersecurity measures to safeguard against potential threats and breaches. Addressing these concerns will likely require targeted strategies and investments in cloud security solutions to mitigate risks and ensure the protection of critical resources within the sector.
46% of the cyberattacks in the oil and gas industry were focused on the midstream sector of the industry in 2019.
The statistic indicates that in 2019, 46% of the cyberattacks targeting the oil and gas industry were specifically aimed at the midstream sector. This means that nearly half of all cyber threats in the industry were directed at the transportation and storage facilities that make up the midstream sector, where oil and gas products are transported between production sites and refineries. This finding suggests that midstream operations in the oil and gas industry faced a significant level of cyber risk in 2019, highlighting the importance of implementing robust cybersecurity measures to protect critical infrastructure and prevent potential disruptions and data breaches.
60% of oil and gas sector companies revealed spending 10% or less of their total IT budget on cybersecurity.
The statistic indicates that a majority of oil and gas sector companies allocate a relatively small portion of their total IT budget towards cybersecurity, with 60% of companies spending 10% or less on cybersecurity measures. This finding suggests that there may be a significant gap in the resources devoted to protecting critical infrastructure within the industry, leaving companies potentially vulnerable to cyber threats and attacks. Given the increasing prevalence and sophistication of cyber threats in the sector, such underinvestment in cybersecurity poses a notable risk to the security and operational resilience of oil and gas companies. Addressing this disparity in cybersecurity budget allocation is crucial to strengthening the overall cybersecurity posture of the industry and safeguarding against potential cyber incidents.
62% of oil and gas companies do not actively test their incident response capabilities.
The statistic states that 62% of oil and gas companies do not actively test their incident response capabilities. This suggests that a significant majority of companies in this industry may not be adequately prepared to effectively respond to potential incidents such as oil spills, equipment failures, or cybersecurity breaches. Without regular testing and evaluation of their incident response plans, these companies may be more vulnerable to disruptions in their operations, financial losses, reputational damage, and potentially even regulatory consequences. Ensuring that oil and gas companies regularly assess and enhance their incident response capabilities is crucial for mitigating risks and maintaining a resilient and secure operational environment.
More than 40% of all cyber attacks on industrial systems hit the oil and natural gas industry.
The statistic that more than 40% of all cyber attacks on industrial systems target the oil and natural gas industry highlights a significant vulnerability within this sector. Cyber attacks on critical infrastructure like oil and natural gas facilities not only pose a threat to the companies operating in this industry but also present potential risks to national security and economic stability. The high percentage of attacks on the oil and natural gas industry underscores the importance of strengthening cybersecurity measures within these sectors to protect against potential disruptions to energy production, distribution, and supply chains. Additionally, it emphasizes the need for heightened vigilance and investment in cybersecurity defenses to safeguard essential infrastructure from the growing threat of cyber attacks.
43% of oil and gas companies cite the work-from-home shift as a primary reason for increased cyber attacks.
The statistic that 43% of oil and gas companies attribute the work-from-home shift as a primary reason for the rise in cyber attacks suggests that the transition to remote work has significantly impacted the cybersecurity landscape within these industries. This data highlights the vulnerability of companies in the oil and gas sector to cyber threats as a result of the shift to remote working arrangements. Factors such as potential lapses in security protocols, increased reliance on digital tools, and possibly inadequate cybersecurity measures to support remote work setups may have contributed to the observed increase in cyber attacks. As such, tackling cybersecurity challenges posed by remote work practices appears to be a critical concern for these companies to protect their sensitive data and operational integrity.
80% of oil and gas companies say their IT/OT environment has been compromised in the past year.
The statistic “80% of oil and gas companies say their IT/OT environment has been compromised in the past year” indicates a high prevalence of security breaches within the information technology and operational technology systems of companies in the oil and gas industry. This suggests a concerning vulnerability within the sector, posing significant risks to data privacy, operational integrity, and potentially even safety. The statistic underscores the urgent need for enhanced cybersecurity measures, increased awareness, and proactive strategies to protect critical infrastructures from cyber threats in order to safeguard the continuity and reliability of oil and gas operations.
Only 41% of oil and gas operators survey their vendors for cyber risk.
The statistic “Only 41% of oil and gas operators survey their vendors for cyber risk” suggests that a majority of oil and gas operators are not actively evaluating the cybersecurity risks posed by their vendors. This could leave the operators vulnerable to potential cyberattacks and data breaches originating from the vendors they work with. By not surveying their vendors for cyber risks, these operators may overlook critical vulnerabilities in their supply chain network, increasing the likelihood of disruptions and financial losses due to cyber incidents. It underscores the importance for oil and gas operators to prioritize cybersecurity assessments of their vendors to strengthen their overall risk management strategies and protect their assets and operations.
Ransomware counts for 21% of incidents in the oil and gas industries.
The statistic ‘Ransomware counts for 21% of incidents in the oil and gas industries’ indicates that a significant portion, specifically 21%, of security incidents in the oil and gas sectors are attributed to ransomware attacks. This statistic highlights the prevalence and impact of ransomware threats within these industries, indicating a significant cybersecurity risk that organizations operating in the oil and gas sector need to address. Given the critical nature of the infrastructure and data within these industries, mitigating ransomware risks is crucial to ensure operational continuity and data security. Deploying effective cybersecurity measures and incident response strategies specifically tailored to combat ransomware attacks is essential for protecting the valuable assets of oil and gas companies.
Four out of ten (40%) oil and gas organizations do not have a central, enterprise-wide view of cyber threats.
The statistic indicates that a significant proportion of oil and gas organizations, specifically 40%, lack a centralized, comprehensive approach to managing cyber threats across their entire enterprise. This suggests that a considerable number of companies within this sector may be vulnerable to cyber attacks due to a fragmented or decentralized approach to cybersecurity. Without a central view of cyber threats, these organizations may struggle to effectively assess and mitigate potential risks, potentially leaving them exposed to cyber incidents that could compromise their operations, assets, and data. This highlights the importance of establishing robust cybersecurity strategies and practices within oil and gas organizations to enhance their resilience and safeguard against evolving cyber threats.
47% of oil and gas companies have experienced cybersecurity incidents due to outdated systems.
The statistic’s statement implies that nearly half, or 47% of oil and gas companies, have faced cybersecurity incidents caused by having outdated systems in place. This suggests that a significant portion of companies within the industry may be at risk of cyber threats due to their reliance on older technologies that may not have the necessary security measures in place to protect against modern cyberattacks. The statistic highlights the potential vulnerabilities that exist within the oil and gas sector, underscoring the need for companies to prioritize updating their systems and investing in robust cybersecurity measures to safeguard their operations and sensitive data from potential breaches.
55% of the respondents say that managing cyber risk has become a priority across all their lines of business.
The statistic that 55% of the respondents say that managing cyber risk has become a priority across all their lines of business indicates a significant level of concern and focus on addressing potential cybersecurity threats within organizations. This high percentage suggests that a majority of businesses recognize the importance of protecting their data and systems from cyber attacks and are taking proactive steps to manage and mitigate these risks. The data highlights the increasing awareness of the impact that cyber threats can have on businesses and the need for comprehensive strategies to safeguard against potential breaches and disruptions.
As many as 79% of respondents have suffered from the visibility gaps in their defenses.
The statistic states that 79% of the respondents have experienced visibility gaps in their defenses. This suggests that a majority of the individuals surveyed have encountered shortcomings in their ability to fully monitor and understand potential vulnerabilities in their security systems. Visibility gaps in defenses refer to areas where there is limited or inadequate surveillance or oversight, leaving organizations susceptible to potential security breaches or attacks that may go undetected. This statistic underscores the importance of implementing robust monitoring and detection mechanisms to ensure comprehensive visibility into security posture and reduce the risk of potential threats.
Almost half (49%) of oil and gas companies have experienced an increase in cyberattacks since COVID-19 pandemic started.
The statistic that almost half (49%) of oil and gas companies have experienced an increase in cyberattacks since the start of the COVID-19 pandemic indicates a significant rise in cybersecurity threats within this industry during the global health crisis. The unprecedented shift to remote work and increased reliance on digital technologies necessitated by the pandemic likely created vulnerabilities that cyber attackers sought to exploit. The fact that nearly half of oil and gas companies reported encountering more cyberattacks underscores the urgent need for enhanced cybersecurity measures and vigilance within the industry to protect critical infrastructure and data assets from malicious actors seeking to disrupt operations or steal sensitive information.
Conclusion
With cyber threats evolving and becoming increasingly sophisticated, it is imperative for the oil and gas industry to prioritize cybersecurity measures. The statistics presented clearly highlight the risks and potential impact of cyber attacks on this critical sector. By investing in robust cybersecurity strategies and training programs, companies can better protect their assets, operations, and ultimately ensure the safety of the global energy supply chain.
References
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