Thriving and Surviving in Oil & Gas


It’s been happening all our lives. Oil & Gas prices fluctuate, and with the ups and downs, the industry adapts and looks to thrive—and more recently, to survive. In 2015, when oil fell to its lowest price in seven years, more than 100,000 jobs were shed and organizations looked to slash billions in spending.  It’s a cycle. It always has been, and always will be. Despite this fact, there is technology on the horizon that can help organizations make right-size investments during the survival phase.
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Oil & Gas Industry’s Most Wanted


The in-demand skills and jobs during this turbulent time in the market
 
The past year has brought significant turbulence to the oil and gas industry in major U.S. markets and throughout the world. Subsequently, the hiring landscape has shifted as certain projects have been postponed or abandoned to offset costs.
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Leveraging Supply Chain Design to Thrive Despite Dip in Fuel Prices


Fuel prices have faced significant pressures in recent months. This dip in cost is good for the American consumer, but lower prices can have negative ripple effects on the economy at large. There are the direct effects such as lost jobs for thousands of Americans employed by the oil industry.  There is further strain on already depleted countries like Venezuela and Russia whose economies are heavily reliant on crude exports. But those initial economic impacts have secondary implications as well, with depleted funding to critical programs having the potential to lead to political unrest in some regions.
 
Here at home the decrease in prices is pushing oil and gas companies to find savings wherever possible. This can include driving operational efficiencies and cost cutting. Cost cutting with suppliers may seem like a natural step, but when the pendulum swings back and oil prices rebound, it is imperative that those supplier relationships remain intact and positive. One common misstep of many businesses, not just the oil and gas industry, is only focusing on operational efficiency in times of economic strife, instead of adopting efficient practices even during a boom.
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Sensor Sensibility: Choosing the Correct Sensor for the Job


In many scenarios, 15 seconds is not a significant amount of time; however, in the oil and gas industry, this small interval can mean the difference between life, health hazards and even death for onsite workers. In such events, having equipment that’s reliable and designed to quickly alert workers of the presence of hazardous gas is crucial for protection and an effective evacuation, if necessary. Through history, the benefits of sensor technology have rarely received the standalone praise they deserve, oftentimes packaged into the advantages afforded by safety solutions. Yet the faster and more intelligent sensor speeds of today allow workers to put time back on their side, and ensure that those 15 second intervals are not taken for granted. To provide this protection to their workers, companies must fully understand the capabilities of their detection device suite in order to safeguard against their site’s specific challenges.
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Oil and Gas Cost Savings: Time is the Most Valuable Commodity


Focus on what you can control.
 
The historic decline in the price of oil, which has dropped 70 percent since the summer of 2014, brought with it operational challenges for oil and gas enterprises, including unprecedented headcount and CAPEX reductions. New performance strategies ensuring production uptime, particularly in aging assets both upstream and downstream, and establishing efficient workflow processes are vital to improved and profitable business operations, returning some control in a struggling climate.
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