ICS Attacks in the Oil and Gas Industry

By: Matt Karol / August 14, 2019

As global terrorism increases, the attacks on oil and gas facilities are at an increase as well. Cyber-attacks on the Industrial Control Systems (ICS) are on the rise. ICS’s can be anything from computer software all the way to the control system that regulates the valves on a pipeline. If a system is compromised, it has the ability to delay operations causing a significant loss for the company.

DRAGOS is an industrial cyber security platform that identifies assets and communications, as well as detecting threats through behavioral analytics. DRAGOS observed new activity of a group called HEXANE targeting ICS’s in the Middle East. Active since 2018, HEXANE distinguished itself by its unique behaviors on how it uses its attacks. They go after networks of the “man in the middle” operations for oil and gas industries which are abundant in the Middle East. cyber-attack-1494753106

Other groups, such as the Iranian threat group Magnallium, have made increased attempts at U.S. government and financial institutions, as well as oil and gas companies. The oil and gas companies are at a higher risk due to the life factor. Companies that use ICS’s with flammable products as well as chemicals can potentially cause explosions if a system was compromised. From a homeland security perspective, loss of human life is a worst case scenario which makes it a valued target for these groups.

With these threats being more prevalent, it causes a demand for more ICS security companies, such as DRAGOS. This market is set to have a 20% increase by 2024 as the internet continues to penetrate almost all industries across the globe. The manufacturing industry, where 1/3 of these attacks happen, is the most susceptible to the cyber threats. With that being the case, this is causing the big players in the industry to step up and find ways to protect their network security and assets. We should see a big uptick in the cybersecurity market especially with the upcoming election.









Categories: oil and gas, cyberattack, terrorism, middleeast

Matt Karol

Written by

Matt Karol

Always striving to grow and progress in my field and with the company, just like Guttman does as a whole.

Guttman Energy Daily Market Update Disclaimer – The information contained in this market update is derived from sources believed to be reliable; however this update could include technical inaccuracies or typographical errors and Guttman Energy does not guarantee the accuracy, completeness or reliability of this update. FURTHERMORE, THIS UPDATE IS PROVIDED "AS IS," WHERE IS, WITH ALL FAULTS AND WITHOUT ANY WARRANTY OR CONDITION OF ANY KIND, EXPRESS, IMPLIED OR STATUTORY. GUTTMAN ENERGY ALSO SPECIFICALLY DISCLAIMS ALL EXPRESS AND IMPLIED WARRANTIES. YOU USE THIS UPDATE AT YOUR SOLE RISK. This update and any view or comment expressed herein are provided for informational purposes only and should not be interpreted in any way as recommendation or inducement to buy or sell products, commodity futures or options contracts.


Subscribe to our blog

Price Feed

Stay up-to-date on current fuel prices and market trends with our NYMEX price feed (15 minute delay to the live market).

© 2018 Market data provided and hosted by Barchart Market Data Solutions. Fundamental company data provided by Morningstar and Zacks Investment Research. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see disclaimer.


Contact Us