1- IEA Prediction - It is expected that Oil demand will rebound slowly in 2021 (Why - Slow recovery of aviation sector)
2- OPEC - Lowered its own forecasts for demand at the start of next year.
3- Capex by Oil & Gas Companies has fallen by 30-35% in 2020. With further cut in Capex, it might worsen the situation.
How to avoid crisis - Investment will have to rise over the next three years by at least 25% yearly from 2020 (An analysis by the IEF, in partnership with BCG). We at Shiva Engineering Specialize in tank designing and further engineering solution. Recently we have helped multiple Oil & Gas companies globally with
· Tank Design & Detail engineering
· Tank Isometric drawing and support engineering
· GA & Fabrication drawing
· Stress Analysis
· Process engineering & design vetting
· Feasibility study for upgradation
· Pre-bid engineering assistance.
· Conceptual Engineering & so on…
This has benefited them
1. Time to market - 20 – 25% reduction in timeline in execution
2. Cost Reduction - 20 - 25% Capex cost saving and Overall, 15 – 20% saving in operational expenses
3. Customer satisfaction - Unlimited access to Engineering support hrs (Tech Support) through our client service team
Let us know if you have any Capex plan, we will be more than happy to help you.