If you can answer “no” to these questions, you can skip this blog post. Your supply chain is already a smooth-running machine. But if you answer “yes” to any of them, you may be making common supply chain errors that can dramatically increase transportation spending. Whether you are in exploration and production, transfer and storage, or refining, purifying, and marketing crude oil and natural gas products, here are some of the best places to look for your savings.
Identify Cost Savings in Your Oil & Gas Supply Chain
Global demand for oil is down, and the price of oil continues to destabilize. The U.S. shale boom and the global pursuit for oil and gas in strategic geographies have produced a saturated oil market, leading to significant industry changes. Despite changing demand, the Organization of Petroleum Exporting Countries (OPEC) recently decided to maintain the production of oil at 30 million barrels per day rather than cut production. This sent oil prices even lower, created additional marketplace uncertainty, and increased pressure on oil and gas organizations to adjust and reduce transportation spending. » Read More