The price of oil continues to fluctuate widely with projections of $140 USD / barrel being revised down to as low as $40 USD / barrel no more than 6 months later.
The energy mix continues to evolve – while fossil fuels are anticipated to be our dominant source through 2035 the share of renewables and unconventional fossil fuels such as gas, continue to grow.
As yields from established sources decrease or become increasingly expensive to extract exploration efforts push further and further afield, creating extended supply chains and logistical challenges.
These are just some of a long list of challenges our Petrochemical clients are facing.
However, even in this dynamic environment some things have remain unchanged – Upstream or Downstream profitability depends on operating efficiency, perhaps now more than ever. These efficiencies can only be achieved through high level of asset reliability and this requires regular and timely maintenance.
Longer Supply Chains, new technology and greater margin pressure hasn’t made things easier but the fundamental objectives remain.
Whether it be provisioning a new site, establishing item stocking priorities or developing ordering values to insulate operations from supply chain volatility or identifying ways to reduce your committed working capital – we are here to help.
Contact us for an introduction to our inventory management products and services.