Oil & Gas Industry
Oil & Gas Industry
Oil & Gas Industry organizations are rewriting their futures with digital—and opening the door to new services, customer touchpoints and operational efficiencies. NUVISION help companies change the way that they do business in Oil & Gas Industry :
- Midstream Operations
In this shifting and uncertain environment, corporate strategies must consider both current and future profitability. The fundamental question: How can your business generate the most value?Define the Organization’s Value Streams
Value streams connect business goals to the organization’s value realization activities. They enable an organization to create and capture value in the market place by engaging in a set of interconnected activities.VALUE STREAM DESCRIPTIONS FOR UPSTREAM OIL & GAS :
With NUVISION, we help clients to diagnose issues and design holistic programs to achieve best-in-class operating performance. We help our clients coordinate functions across the entire value chain to improve outcomes across the business, with a focus on organization-wide value & focus on business performance management as per stakeholder requirements.
Midstream segment in the oil and gas supply chain, includes operations that connect the upstream and downstream participants and companies. Four major groups of services are characteristic for the midstream segment are:
The more detailed services that fall within the midstream sector can be seen in this list:
- Diversified Midstream Pipeline and Storage
- Crude Oil and Refined Products Pipeline and Storage of Excess
- Marine Shipping and Transportation
- Natural Gas Gathering and Processing
- Natural Gas Pipeline and Storage
- Oil Field Services
Capturing the opportunities of digitalization in midstream segments
Digitalization can differentiate the companies that deploy it successfully and quickly, while increasing competitive pressure on refiners that fall behind.
- Digital asset life cycle management. New digital technologies combined with data-driven insights can transform operations, boosting agility and strategic decision-making, and resulting in new operating models.
- Circular collaborative ecosystem. Applying integrated digital platforms enhances collaboration among ecosystem participants, helping to fast-track innovation, reduce costs and provide operational transparency.
NUVISIONS experienced team of senior consultants have established expertise in troubleshooting, high-level analysis and problem solving for mid-stream operations, petroleum, petrochemicals and refined fuels.
The main business characteristics about the downstream sector is that it is margin business, which has high complexity, companies should always have the global perspective in mind and it includes working with marketing and delivery of final products to retailers and end users. When discussing about the downstream being a margin business, it defines the margin as the difference between the price of the products from the crude oil and the cost of the crude oil that is delivered to a refinery. The complexity of this chain segments is due to the inclusion of different range of activities such as petrochemicals, distribution, wholesale and retail marketing.
The fuel retailing industry has technologically become more advanced and it has incorporated technological assistance and applications in as many areas as necessary, for example- the number of smartphones and tablets have risen rapidly in Europe and they have been to an effective use, as one such use which is highly efficient is the mobile payments through apps. With this trend in use at the maximum level, the retailers have been re-evaluating their approach and incorporation of technological assistance to maximize their revenue and customer base. The reason many retailers are taking the technological path is because of the new way to differentiate themselves from competitors and also by creating a brand loyalty amongst their customers. The features and benefits of the technology that has been incorporated in the fuel retailing industry are listed in the following list:
- New way to interact with consumer to build loyalty.
- Develop and increase the use of mobile technology to help the consumer to have the options of multiple choices.
- Development of apps for smartphone and tablets that stand out from competitors for carefully identifying their different styles and uses.
- Planning of future strategies by intricately examining the benefits and potential risks of adopting mobile payments and eventually increased app usage.
Instead of customers driving to petrol stations, digital services, such as hyperlocal mobile fuel offerings, aim to bring the fuel station to the customer. Additional services, including tyre pumps and maintenance check-ups, can be bundled with the mobile fuel station to enhance safety and raise vehicle mileage for customers. While Oil and Gas incumbents have yet to embrace this business model, several start-ups (e.g. WeFuel, Filld, Mobile Fuel, Yoshi) have already begun to operate in this way.
- Innovative engagement models that provide personalized experiences and flexibility for customers can drive new revenues for Oil and Gas operators. Market volatility, fluctuating fuel prices, the invention of mobile apps for fuel delivery and growing interest in electric cars are all calling into question the future of traditional petrol stations. As conventional fuel retail changes, retailers need to evolve to keep pace with these developments. During the past 25 years, the fuel retailing sector has undergone a major shake-up, with the number of forecourts in the United States declining from 202,800 in 1994 to just 150,000 in 2015.
- In the current digitally connected on-demand economy, petrol stations must work harder than ever to attract customers, as price and location have always been more important than brand loyalty. Connected customers are more demanding ones, using their electronic devices to quickly and easily fin.
- Our Oil and Gas experts can help clients evaluate potential business to unlock within your downstream organizations.