by Tina Olivero

    NOIA: Addresses Oil Industry Under Pressure

    The oil industry is under as much pressure as the oil they take out of the ground.  Industry is responding in new and creative ways. The Newfoundland Oil Industry Association (NOIA) in St. John’s, this week held it’s annual conference but it had a distinctly different conversation.

    The NOIA conference was less about vision, exploration and future projects and more about addressing the challenges of the day – “oil price”.

    Presentations focused on cost savings, efficiencies and maintaining profitability in an industry under pressure. Speakers included industry professionals, government, and organization who had a common theme in their message. It’s a time of adjustment, a time of innovation and a time of exponential change.

    And why wouldn’t it be about the price of oil and its impact? In the last 18 months the price of oil has been cut in half. Think about that in personal terms. Your paycheck has just been cut in half. How do you live? What do you do? What cutbacks to you take? What are your priorities? How do you simplify and modify? What do you keep and what do you eliminate? That’s the challenge of oil companies, major contractors, and suppliers in the oil base today.

    For the oil industry dealing with half of their revenue base has led to hundreds of thousands of jobs in the energy industry, being cut worldwide. There are drastic reductions in spending, transport, logistics, exploration, production, sales, and future projects. Times are tough around the globe. Many call it a time of crisis.

    But is all lost?

    The oil and gas industry presenting at the NOIA conference thinks not. After all, the world’s leading commodity is oil and gas and it attracts the greatest minds in the world. Rather than being defeated they’ve strategically channeled those great minds into an entirely new way of operating. 
With resiliency and creativity, the people of the oil and gas sector now have a new level of industry conversations that transform and recreate. It’s actually a time of rebirth through efficiency, business process, operational overview, collaboration, standardization, simplification and a reduction of operational costs.

    This is a time of cultural and behavioral change. That means the vision, focus, and conversations that make business work have been catapulted to an entirely new level. Leadership is now more about being the facilitators of new regimens of efficiency and powerful innovation. Concepts of integrity, transparency, sharing, collaboration and industry partnership are not just “key” they are now non-negotiable.

    Esteemed speakers on the topic of oil and gas innovation and efficiency included:
    Naheed Nenshi, The Mayor of Calgary
    Paul Fulton, President of Statoil Canada
    Stephen Marcos Jones, Director of Business Excellence, with Oil & Gas UK
    Hakon Skretting, Regional Director, TSOK, The Norwegian Oil & Gas Partners
    Knut Boe, President, North Sea Canada, Technip

    The conversations of the morning rang in similar fashion.  Embracing rapid change and moving forward is a navigational challenge in which they all had similar plans. We can expect to see three main operational themes emerging:

    1. Simplification
    2. Standardization
    3. Industry collaboration

    Each of these variables will emerge with the advancement of technology and new global communication systems. Resource allocation will be aligned with all that elevates these three themes and supports them in coming to fruition.

    All that brings adversity also brings us together and today’s adversity will foster intricate industry networks that will lead to new solutions and results. Given we are on the cusp of  globalization this can only be a good thing.  I have the sneaking suspicion that it’s getting us ready for the new energy world that’s about to emerge.

    Business is nothing more than a network of conversations

    New operational efficiencies in the oil and gas industry will include systems that prove themselves in reducing cost and increasing profitability. Some of the trends include access to global virtual resources, detailed and shared inventories, sharing expertise and past experience, virtual hiring, the internet of things, big data, operations in the cloud, more efficient software and hardware, and advanced communication systems.

    At the heart of each of these modifications and adjustments is “new conversations”.

    So what we really have is a communications challenge. The goal now becomes more about enhancing the networks of conversations and the number of conversations we have that can strategically and succinctly lead us to a new world order. All of this bodes well for the world that’s globalizing and streamlining simultaneously. It seems that these new operational models will be the foundation for what’s to come and therefore are a necessary course of correction that will result in a sustainable new energy future.

    Crisis forces change and it’s a good thing because people have conversations they wouldn’t have in the past. So rather than slashing costs by putting pressure on the supply base of the oil and gas industry, it’s a time to look at the big picture and optimize the entire offering where project durations are reduced, simplicity offers direct cost reduction, waste is eliminated, optimized efficiencies are implemented and technology ensures communication and operations effective overall.

    The game of lean operations ensures we architect business with what we “need” rather than what we “want”. The model ensures a foundation for success in the midst of fluctuating market costs, emerging global markets and unpredictable variables. How we modify and move forward will inevitably provide us with the much-needed foundation for the new energy, globalized world of tomorrow

    Tina Olivero

    Tina Olivero

    Would you appreciate knowing more about how strategic content can vastly support your marketing and sales?

    Fill out this request and we will have a product & service expert get in touch with you.

      Name (required)

      Email (required)

      Phone (required)

      Tina Olivero

      30 years ago, Tina Olivero looked into the future and saw an opportunity to make a difference for her province and people. That difference came in the form of the oil and gas sector. Six years before there was even a drop of oil brought to the shores of Newfoundland, she founded The Oil and Gas Magazine (THE OGM) from a back room in her home on Signal Hill Road, in St. John’s, Newfoundland. A single mother, no financing, no previous journalism or oil and gas experience, she forged ahead, with a creative vision and one heck of a heaping dose of sheer determination. With her pioneering spirit, Ms. Olivero developed a magazine that would educate, inspire, motivate and entertain oil and gas readers around the world — She prides herself in marketing and promoting our province and resources in unprecedented ways. The OGM is a magazine that focuses on our projects, our people, our opportunities and ultimately becomes the bridge to new energy outcomes and a sustainable new energy world. Now diversifying into the communications realms, a natural progression from the Magazine, The OGM now offers an entirely new division - Oil & Gas Media. Today, The Oil and Gas Magazine is a global phenomenon that operates not only in Newfoundland, but also in Calgary and is read by oil and gas enthusiasts in Norway, Aberdeen, across the US and as far reaching as Abu Dhabi, in the Middle East. Believing that Energy is everyone’s business, Ms. Olivero has combined energy + culture to embrace the worlds commitment to a balance of work and home life as well as fostering a foundation for health and well being. In this era of growth and development business and lifestyle are an eloquent mix, there is no beginning or end. Partnering with over 90 oil and gas exhibitions and conferences around the world, Ms. Olivero's role as a Global Visionary is to embrace communication in a way that fosters oil and gas business and industry growth in new and creative ways.

        Would you like to know more about this story?

        Let us know who you are and how we can assist you.

        First Name *required

        Last Name



        Email *required

        Mobile required

        What are you interested In?

        Learning more about this story?Contacting the company in this story?Marketing for your company?Business Development for your company?

        I am interested in...

        Did you enjoy this article?

        Get Media Kit

        OGM - Our Great Minds