Plunging demand, lack of storage capacity, oversupply: Oil and gas industry are grappling with severe consequences of the pandemic. Things may never go back to “normal,” as they did after past market and price crashes.
The time is right for oil and gas procurement and supply chain organizations to initiate strategies and solutions created by and for this industry, with its unique aspects and challenges.
This new GEP white paper — What's Next for Oil & Gas? Recovery Scenarios and Navigation Strategies to Power Through the Crisis — outlines steps that procurement and supply chain organizations can take to create much-needed value in hard-hit oil and gas companies. The paper also discusses the longer-term structural implications of the pandemic for these organizations and the industry at large.
- Mitigating the financial impacts of capital contract cancellations
- Innovative cost reduction strategies, including cash auctions that also help support suppliers
- The industry’s procurement and supply chain outlook under a variety of recovery scenarios
This important paper has the most thorough assessment of oil and gas procurement and supply chain that has been presented since the onset of the pandemic.