Downstream Digitalisation 2020

October 22, 2020

An online conference focusing on the latest developments and innovations driving the digitalisation of the hydrocarbon processing industry

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Aveva

Pivot to Profitability in O&G in Four Steps

In this session, AVEVA will cover four steps to pivot to profitability in O&G. Amid all the tactical decisions to keep your company afloat, it is crucial to take a step back and think about your long-term strategy.

The oil & gas industry has faced similar downturns in the past, and the current one is unlikely to be the last. Therefore, refineries should take this opportunity during the slow-down to future-proof their operations so that they are in a better position to survive the next downturn.

It is crucial that all departments and different teams across the value chain collaborate on a journey that will provide significant impact to the overall business. While each downturn will have its own characteristics, there are things that can be done to help your company survive and thrive.

Following these four steps will help you survive and thrive the next downturn:

  1. Unify your supply chain.
  2. Increase efficiency in your operations.
  3. Optimise your process.
  4. Holistic approach to your value chain.

It is quite common that organisations operate in silos, with limited visibility and communication problems across different teams, resulting in reduced efficiency and value leaks for the enterprise.

It is in this regard that digitalising business processes can lead to better collaboration, more agility and an optimised value chain.

A digital transformation strategy of the end-to-end value chain tackles different functional areas and incremental benefits can be realised on each of them, which in total can boost profitability by US$50 to US$300 million per year for a typical oil refinery.

 

Speaker

Joseph McMullen

Joseph McMullen
Value Chain Optimisation Marketing, Aveva

Joe leverages his chemical engineering degree and his experience to understand customer problems to position potential solutions. Joe is passionate about technology, the digital transformation of industry, IIoT, SaaS, marketing, and solving customer problems.

Joe has a Bachelor’s degree in Chemical Engineering and an MBA from Villanova University. Joe has worked for AVEVA since 2001 with positions in technical support, product management, and various marketing leadership roles.