Abstract
Given that data and information have become the most valuable assets of companies that can be efficiently and economically stored in the cloud infrastructure, there is great pressure on business entities to capitalize on this business and technological opportunity. There is a particular pressure on oil companies to find new ways to create a competitive advantage by using the opportunities offered by cloud-based businesses. This is primarily a result of the fact that the reorientation of business activities to this type of storage and integration of data and applications represents a major change in the business world, and the growth trend continues in all aspects of the business. This paper deals with the possibilities and challenges of applying cloud technology in oil companies operating in turbulent conditions caused by fluctuations in oil prices in the global market..