PetroDiAC

  While most managers, would stick to their strategy, prefer to stay in the firefighting mode and offer little room for change, few leaders can stop for a moment and ask that little question “Where Are We Going?”. That realization question can help organizations to rethink their Vision, Mission, Strategy Development & Delivery. Mature organizations do not stagnate and have the Continuous Development mechanism embedded into its culture and processes. Shifting a bad strategy into a good strategy involves a few key steps that focus on clarity, focus, and coherence. Here is the roadmap for transforming a flawed strategy into one that is more actionable, realistic, and likely to succeed: 1. Diagnose the Problem   Identify the Core Issues: A good strategy starts with a clear understanding of the vision, challenges or real problems facing the organization. Begin by assessing the current strategy’s weaknesses. Is it too vague, over-ambitious, or lacking a focus on critical i...

  When Corporates, teams or even individuals says that, we have clear objective and we identified what are we going to do about it, it is more often a bunch of aspirations and goals that are dreamy and falls down in the future of 5+ years and the main aim is to buy more time until executives could figure out what are they going to do or sometimes it is to buy more waiting time until something big happen. There is absolutely nothing wrong with aspirations, however it doesn’t equate to an actionable strategy unless they are backed by a roadmap that considers practical, achievable steps.   A clever strategist, would certainly need to have the capability & experience to identify what is a good strategy and bad strategy, in another word identify the difference between what will work and what won’t. This caliber in fact is missing around the world as more than 70% of strategies do not achieve any of its goals.   In Good Strategy Bad Strategy book by Richard Rum...

  The relationship between the US Dollar and oil prices historically has been complex and multifaceted, influenced by various economic, geopolitical, and market factors. Generally, there tends to be an inverse relationship between the USD and oil prices. When the value of the USD strengthens against other currencies or the Dollar index, it often leads to a decrease in the price of oil, and vice versa. This relationship is partly due to the fact that oil is priced in USD on the global market. Oil traders and economists know exactly how the Oil price moves when the index moves. However this is not trues in some cases, when oil price and USD appreciates together or vice versa. Here are some key points to consider when examining this relationship and cases where the relationship is not a direct one: 1. Global Economic Growth : In periods of robust global economic growth, both oil prices and the value of the USD can rise together. Strong economic expansion can lead to increased demand f...

    Technology companies are always searching for new technologies to add to their portfolios and add to their abilities to solve real industrial issue to save money to their   customers. However on the other side, the competition between these technology companies in the AI field, already fierce,  and is likely to intensify in 2024 and beyond, driven by several factors: Competition landscape: Industrial Automation Companies: They are investing heavily in AI research and development, aiming to dominate the market with comprehensive solutions and deep knowledge of the process industry. Mega Technology Companies: While they pioneer in deploying several AI based projects, yet they are working hard to add more deeper knowledge  and increase their footprint in the process industry. Startups: Nimble and innovative, they are bringing specialized solutions to niche areas within the process industries. Industry incumbents: Traditio...

  Episode 7: Introduction Among the key parameters of Operational Excellence, "Quality & Reliability" stands as a cornerstone for ensuring efficiency, safety, and profitability in operations. They refer to the ability of a business to consistently produce and deliver products or services that meet or exceed customer expectations. In this article, we will delve into the significance of quality and reliability in the industry.   Quality: Quality is defined as the degree to which a product or service meets or exceeds customer expectations, adherence to industry standards, specifications, and best practices. It can be measured in a variety of ways, such as: Customer satisfaction surveys Number of returns or complaints Product or service failure rates Process defects Examples of Quality Measures: Precision in Drilling Operations : Ensuring precise drilling techniques through advanced technologies like directional drillin...

  After addressing various aspects of Operational Excellence, including potential misconceptions and the correlation with ISO and other quality standards, it's essential to delve into the parameters that form the core of any operational excellence initiative. These parameters may be implemented selectively based on strategic objectives and timelines, taking different forms across divisions, locations, departments, or functions within a corporation. Each parameter undergoes decomposition into sub-parameters, and then further into smaller initiatives, projects, and tasks. The first parameter to discuss is a crucial parameter in this Operational Excellence pursuit which is “Cost Management”. This parameter plays a pivotal role in ensuring that companies not only remain competitive but also thrive in an ever-evolving market. Cost Management: A Cornerstone of Operational Excellence Cost Management involves optimizing expenses while maintaining or enhancing the quality of products and ...

  In the business dynamic and challenging landscape, companies are striving to achieve their objectives while maintaining healthy and streamlined operations. Central to this pursuit are operational excellence targets and many standards that they need to follow some of them are crucial for their operational like ISO. This article aims to illuminate the critical distinctions and parallels between these approaches, emphasizing how their synergistic implementation can propel organizations toward achieving their goals. It is very crucial for companies' middle management to differentiate how any opportunity that may arise in their operations can be addressed, studied and quantify the benefits using the right tools and reference practice.   ISO Standards: Anchoring Corporate Practices  T he International Organization for Standardization (ISO) stands as the global authority for developing and endorsing international standards across industries. For the Oil & Gas sector,...