Abstract
With the rapid growth in technology, the world is witnessing a shift towards digital transformation and automation. Oil & Gas sector is often considered as a global economy pillar where data security, decision making, and efficiency are major components. Current practices in the petrochemical industry call for adopting industry 4.0 technologies to minimize operational costs and increase value generation. In conduct, businesses operate by the utilization of information which introduces the blockchain concept. Furthermore, blockchain technology is ideal for timely delivery of information. Additionally, it provides instant, shared, and specific information stored in an immutable ledger to be accessed by authorized network members only. This paper aims to establish a framework leveraging blockchain concepts, to securely integrate petrochemical companies in integrated industrial cities. This blockchain will cover different aspects of operating an integrated petrochemical complex. For example, optimizing the purchases of the feedstocks, raw materials, additives, and packaging from a real-time business model based on the market forecasts, demands, and operational constraints. This blockchain will ensure secure money transactions based on live data from flow and measurement instrumentation.