A recent Cybernews analysis found that more than 94 percent of the world’s top 400 oil and gas companies have suffered at least one data breach to date. Cybernews also discovered that, over a recent 30-day period, more than 50 percent of the analyzed oil and gas firms were breached. Moreover, according to the Cybernews Business Digital Index, which grades businesses based on their online security measures, 69 percent of the companies received a cybersecurity score of D or F, and only 10 percent achieved an A grade. Vincentas Baubonis, Head of Security Research at Cybernews, commented: “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 global supply chains.”
Key research takeaways:
- 94 percent of the largest oil and gas companies had experienced at least one breach, and over 50 percent were breached within the last 30 days.
- Nearly 7 in 10 oil and gas companies are in the high-risk category for cybersecurity, with 35 percent scoring an F and 34 percent a D.
- Asia-based companies had the lowest average score at 65. Europe and North America followed closely with average scores of 74.
- Credential hygiene is a major weak spot, especially in Asia, where 68 percent of companies reused previously compromised passwords.
- Email security remains a critical weakness, affecting 48 percent of organizations worldwide.
- 74 percent of companies contain insecure configurations in their servers.
- Issues with SSL/TLS configuration were identified in 91 percent of organizations.
- More than 80 percent of firms had corporate credentials stolen, while 38 percent of domains were susceptible to email spoofing attacks.
Related: The Escalating Cyber Stakes
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