Managing risk and uncertainty: The importance of optimizing your value chain

摘要

No doubt exists that COVID-19 is disrupting the oil and gas industry.Oil prices are falling,demand is down,supply is up,and storage capacity is limited.In these difficult times,the industry must swiftly act to keep business viable to come back strong when conditions improve.None of this should be news to you.What are you doing about it? Amid the tactical decisions to keep your company afloat,it is crucial to take a step back and think about your long-term strategy.The oil and gas industry has faced similar downturns in the past,and the current one is unlikely to be the last.Therefore,refineries should take this opportunity during the slowdown to future-proof their operations so that they are in a better position to survive the next downturn.