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Adapt and Plan for a Comeback

 

Oil & Gas and the need to realign business as demand dampens, supply increases

Jan Erik Johansson

Advisor, Upstream COE, at Tata Consultancy Services’ Global Oil & Gas Practice

Oil & Gas and the need to realign business as demand dampens, supply increases

Given the span of the COVID-19 crisis, it is safe to assume the way of life and conducting business has and will continue to witness a dramatic change going forward. The anxiety, both human and economic, that has ensued has also meant the traditional business models are not prepared to swiftly switch gears. While the Novel Coronavirus has caused turmoil for businesses in general, the Oil & Gas industry was already facing some serious troubles of its own making even prior to the crisis with the supply and demand imbalance already in effect.