To source oil & gas from supplying region such as: Africa, Middle East, Russia, South America, Australia, South East Asia;
The resources will focus on :
- Light Cycle Oil; (LCO)
- Light Crude Oil; (LCO)
- Liquid Natural Gas: (LNG)
There is considerable to retain storage facility in Greater Bay region.
Volatility and unpredictability in the oil & gas sector have not abated from the levels we’ve observed over the last several decades. Geopolitical and economic uncertainties, regulatory restrictions, changing global markets and supply risks are compelling oil & gas companies to up their game and adopt a dynamic approach to operations and processes.
Notwithstanding the surge in oil prices that has benefited the oil & gas companies immensely by bringing more money to the table, there are several key challenges that need to be negotiated, including:
- Newer, more efficient technologies resulting in less fuel consumption than before
- Rise of electric vehicles and declining auto demand
- Significant focus on regulatory compliance and adherence to environmental and personnel safety
- Increasing cost of exploration and upstream operations
- Global operations resulting in inconsistent processes and practices
Procurement, with its increasing strategic reach, can help oil & gas companies generate more value by identifying cost-saving opportunities, redefining supplier relationships, increasing spend efficiency and mitigating supply chain risks, to name a few.