Business News

Over 50% of Top Oil and Gas Firms Hit by Data Breaches

Published

2 weeks ago

on

Additionally, over 50% of these companies experienced at least one data breach in the past 30 days.

The analysis also showed that 69% of the companies received a cybersecurity score of D or F, and only 10% achieved an A grade.

According to Vincentas Baubonis, Head of Security Research at Cybernews,“When a company suffers a data breach, customers, partners, and investors may lose confidence in the company’s ability to protect sensitive information. Breaches often involve ransomware or systems being taken offline, which can halt critical operations like drilling, refining, or logistics. Even a short disruption in the oil and gas industry can cost millions and affect the global supply chain.”

Methodology

Cybernews researchers assessed 391 companies in the oil and gas industry using the Business Digital Index methodology. The companies were chosen from Companies marketcap’s “Largest Oil and Gas Companies by Market Cap” list. The report’s Methodology can be found here.

About Business Digital Index

The Business Digital Index is designed to assess the cybersecurity health of companies and organizations worldwide. It gathers data from reliable sources, such as custom security scans, IoT search engines, and IP and domain reputation databases.

The index evaluates risks across seven critical areas:

  • Software updates,
  • Web security,
  • Email protection
  • System reputation
  • SSL setup
  • System hosting
  • Data breach history

Key Research Takeaways

94% of the Largest Oil and Gas Companies Experienced Data Breaches

Data breaches represent the most dominant cybersecurity issue across the oil and gas sector.

According to the data, 94% of the analyzed companies have experienced at least one data breach.

Over 50% of companies suffered breaches within the last 30 days alone, and 27.1% experienced breaches in Week 20.

Nearly 7 in 10 Oil and Gas Companies Score D or Below

According to the index, 35% of the 391 companies analyzed received an F, the lowest possible rating. In addition, 34% scored a D, indicating severe shortcomings. Only 10% achieved an A grade for their cybersecurity posture.

The general average security score across the companies was 72 out of 100. Based on the BDI methodology, they are in the high-risk category for probable cyberattacks.

According to Baubonis, “Most companies scoring a D or F in cybersecurity indicate that industries are exposed to possible risks. These ratings point to widespread vulnerabilities that open critical infrastructure to breaches and ransomware. A single incident could lead to operational shutdowns, plummeting stock value, and a collapse in investor trust. Only 10% have adopted strong digital defences, making it clear the sector is lagging.”

Asia-based Companies Most Vulnerable to Data Breaches

Companies in Asia had the lowest average score at 65. However, European and North American companies scored 74.

Asia showed the highest level of exposure across most key risk areas. For example, 59% of Asian domains were vulnerable to email spoofing, compared to 35% in North America and 27% in Europe.

Also, in Asia, 68% of companies reused previously compromised passwords. At the same time, North America showed the strongest password security, with only 31% of companies affected. In Europe, 39% of companies experienced similar issues.

30% of Asian companies had high-risk vulnerabilities, compared to 23% in Europe and 18% in North America.

Critical vulnerabilities followed a similar trend, with Asia at 27%, Europe at 22%, and North America at 17%.

The analysis shows that Asia faces the greatest cybersecurity challenges. On the other hand, Europe showed a more balanced performance. However, North America appears relatively strong in password management and slightly less exposed to high-risk vulnerabilities.

Basic Security Failures Expose 91% of Oil & Gas Companies

The analyzed oil and gas companies showed common systemic exposures spanning several cybersecurity areas.

Many of these companies also exhibited unresolved software patching issues, which means that they have yet to apply critical security updates. As a result, 32% are vulnerable to general patching gaps and 20% are exposed to critical unpatched flaws. These weaknesses could allow attackers to exploit known flaws to gain access to their systems.

Email security remains a crucial weakness, affecting 48% of organizations. The lack of protections against phishing, spoofing, and unauthorized access allow hackers to trick employees, steal credentials, or spread malware.

Additionally, susceptibilities in system hosting were discovered in 74% of companies. Thus, this suggests insecure configurations in the servers or cloud that support core business functions.

Issues with SSL/TLS configuration were identified in 91% of organizations. This suggests general failures in properly encrypting data transmissions. As a result, these flaws expose companies’ sensitive information to interception or tampering.

The data also reveals that corporate certificates have been stolen from over 80% of companies, and 38% of domains are vulnerable to email spoofing.

Related Topics:

Leave a Reply

Your email address will not be published. Required fields are marked *

Trending

Exit mobile version