Features / Industry Insights

Coronavirus Brings HSE to the Forefront

For the past several months, most of the world had shut its doors, creating an eerie and deafening silence among the oil and gas industry. Now, gradually, the world is beginning to reopen its doors in a cautious and careful manner, with a sense of fear and anticipation still lingering in the air. As the world is getting back to a new normal after the coronavirus (COVID-19) crisis; now more than ever health, safety, and environment (HSE) measures should be a priority to all of us.

Coronavirus Creates A Niche for Job Market in the Oil and Gas Field

Recently, due to the Coronavirus pandemic, there has been instability in most jobs in the oil and gas field. In fact, many industry professionals around the world have been victims of salary deductions or lost jobs as a result of the low production in the industry. This has not only resulted in a series of staff eliminations, but has also generated a new niche in the job market in the oil and gas field.

Cooperation in Times of Social Distance: A Closer Look on JVs

As joint ventures (JVs) involve two or more businesses pooling their resources together, their goals as well as their risks become also commonly shared. However, overshadowed by the COVID-19 crisis in addition to a global oil price war, oil and gas JVs are under the growing pressure from shareholders, governments, and the general public to adjust their business models and transparently compete in a new energy landscape.

EUG: Leveraging digitalization to unlock Egypt’s Basins Potential

For the past four years, the Egyptian Ministry of Petroleum has been reaping the fruits of the ambitious modernization project that was launched in 2016. Under the leadership of H.E. Eng. Tarek El Molla, Egyptian Minister of Petroleum and Mineral Resources, this unique overhaul transformation project was designed to unlock the petroleum sector’s potential to further increase its contribution in Egypt’s economic growth.

Coronavirus Reshapes Oil & Gas Production Dynamics

Many sectors including oil and gas industry, are now suffering due to the outbreak of the coronavirus pandemic. The global lockdown and imposed curfew everywhere have led to heavy economic and commercial losses as some industries have come to a halt. The reduction in oil consumption and the declining oil prices have dealt a blow to the oil industry affecting the production and operation of oil companies. The crises led National Oil Companies (NOCs) and International Oil Companies (IOCs) to develop their own ways to survive. Egypt Oil & Gas (EOG) has explored the opinions of production and field engineers working in different oil companies, as well as industry experts, to better understand how the situation has been handled in Egypt.

Depicting A Contingent New Normal in the Oil Sector

In 2009, the internationally renowned economist, Mohamed El-Erian, coined the term New Normal: an economic alteration of normalcy in the aftermath of a global recession. Now that the coronavirus pandemic has posed a growth environment dampened by structural impediments, the world is yet to be taken aback by a possible new 'New Normal'.

Making the Most of Operational Cost Efficiency Strategies

While an operational cost efficiency strategy is a notion that has been implemented in various companies in the oil and gas sector. So far, conventional operational cost efficiency strategies have been implemented in Egypt (especially when discussing increased drilling costs), but given the recent impact of the global pandemic (i.e. COVID-19), more detailed and developed strategies are necessary to limit the overall impact.

The Domino Effect: Insights on Oil Prices Impact on Petrochemicals

The oil and gas industry is no stranger to world economic turmoil; and recently it has brought the industry to a whole new low. Global oil prices crashed down with Brent crude recording $20.39 on April 21 as a result of the coronavirus pandemic, which in turn has led to an imbalance in the global oil supply and demand equilibrium. This has created a domino effect impacting the global oil industry and, consequently, affecting the petrochemical industry.

Predicting Analytics: New Hope for Preventing Failure in Times of Coronavirus

Non-linear and unpredictable; the novel coronavirus (COVID-19) has ferociously hit the oil and gas markets leaving a rippling effect across the industry, leading to a possible global economic crisis and a grave decline in oil prices. However, the pandemic also opened the minds about technology as a solution that can minimize the losses.

Technological Mediums to Accelerate the Digitalization Shift

While the concept of digitalization is not new, the recent emergence of the coronavirus (COVID-19) pandemic has brought it into the spotlight more than ever. Digitalization in the oil and gas sector has become a necessity as opposed to a mere option over the last several months. In fact, digitalization has been a topic of discussion over the last five decades.

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