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4 Tips to Managing Successful Joint Ventures

22nd August 2019
4 Tips to Managing Successful Joint Ventures

Estimated reading time: 6 minutes   Managing Joint Ventures in Oil and Gas   Due to increasing project complexity and customer demands, it is now commonplace for organisations to form alliances across industries. Organisations are moving towards joint ventures to tap on the partner’s strengths and diversify at a much lower risk. Joint ventures provide an entry point into strategic markets, making JVs an attractive option to get around regulatory issues. Joint ventures in US yield a 17% return on investment, compared with an industry average of 11%. Meanwhile, in a global survey of 253 companies that used joint ventures...

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Role of Human Factors in the BP Texas City Explosion

21st August 2019
Integrating Human Factors into Design & Operations Risk Framework

Estimated reading time: 5 minutes Integrating Human Factors into Design & Operations Risk Framework   On March 23, 2005, one of the worst industrial disasters in recent U.S. history occurred at the BP Texas City Refinery. The disaster that took 15 workers lives and injured 180 others, occurred as a result of an explosion and fire during the startup of a process unit. A distillation tower was overfilled and liquid and vapor hydrocarbons were released into the atmosphere. A vapor cloud formed, found an ignition source, and exploded. An investigation done by the U.S. Chemical Safety and Hazard Investigation Board...

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4 Steps To Start A Strategic Communication Strategy

16th August 2019
4 Steps To Start A Strategic Communication Strategy

Estimated reading time: 4 minutes Advanced Strategic Corporate Communication   What is a strategic communication strategy? A strategic communication strategy involves creation of plans to convey information to target audience through dedicated telecommunications that satisfies a long term strategic goal of an organization. The difference between a simple communications plan and a strategic communication strategy is the addition of advanced strategic planning for the latter.   Developing a strategic yet integrated communications plan in your organisation will be able to create value and enhance the work productivity of your employees. It is integral in its prevalence, given that all organizations...

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4 Common Mistakes of Maintenance Planning and Scheduling

15th August 2019

Estimated reading time: 5 minutes Planning and scheduling for day to day maintenance and turnarounds   One of the critical features of a plant operation, is its effective maintenance management in establishing conditions for safe operations, and in supporting the commercial success of the business.   Effective maintenance reduces overall company cost because production capacity is available when needed. The company makes a product with this capacity to sell at a profit. This explains the reliability-cost relationship: focus on overall cost reduction and reliability gets worse but focus on reliability improvement and overall cost goes down. Nevertheless, examining the cost...

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Implementation of a Succession Management Plan

15th August 2019
Implementation of a Succession Management Plan

Estimated reading time: 4 minutes Succession Planning 2019   Succession planning is the process of identifying and developing new leaders who are able to immediately replace old leaders when they leave or retire. Essentially, it is the planning for the continuity of leadership by developing internal people who have high potentials of filling up the key business leadership positions in a company.   More than just the traditional mentality of coming up with a list of names of potential leaders, succession planning involves management and comprises of an intensive and comprehensive method. It has been shown that organizations who source...

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3 Tips for A Successful HAZOP Study

14th August 2019
HAZOP Study

Estimated reading time: 5 minutes Advanced HAZOP Masterclass   What is HAZOP? A Hazard and Operability (HAZOP) study is a structured and systematic risk management technique for existing process or operation. It is used to identify and evaluate risks to personnel or equipment. HAZOP is often used as a technique for identifying potential design and engineering issues that may cause potential operability problems. The HAZOP team lists potential causes and consequences from these issues. If existing safeguards fail to meet the criteria, the team recommends the action be taken to reduce the risk. HAZOP’s meticulous approach is commonly used with...

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What is A Direct Fired Heater? All You Need to Know

8th August 2019
Direct Fired Heaters Design Operation

Estimated reading time: 4 minutes Direct Fired Heaters: Design & Operation   A direct-fired heater, or an industrial furnace, uses the hot gases of combustion to transfer the heat to the liquids flowing in the heat exchange coils. Direct-fired heaters can either be used in radiant or convection heat exchanges and adopt different configurations according to their applications. The types of configuration vary according to these factors: structural configuration, radiant tube coil configuration and burner arrangement. The different configurations vary accordingly:  Structural configuration  Radiant-tube coil configuration  Burner arrangements Cylindrical Vertical Up-fired Box Horizontal Down-fired Cabin Helical Wall-fired Sidewall Endwall Multilevel...

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How Companies Should Keep Up with the Changing Oil and Gas Landscape

8th August 2019
How Companies Should Keep Up with the Changing Oil and Gas Landscape

Estimated reading time: 4 minutes 4 Day MBA for Oil and Gas Executives   The oil and gas industry has always been a turbulent industry, with many factors easily affecting the demand and supply for oil and thus, shaking up the oil prices. Since the oil shock in late 2014 which had led to a 30% decrease in oil prices due to oversupply of oil but sudden reductions in global demand, many companies aim to avoid undergoing the same crisis again. Yet, it is hard for oil and gas companies to venture far from its niche and diversify its business...

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5 Things to Consider Before Submitting a Tender

6th August 2019
Writing Contract Agreement Signing

Estimated reading time: 4 minutes Bid Management & Tender Evaluation   The tendering process is a highly competitive process, where many businesses offer their services and bid for the contracts and projects they seek. For example, government tender requests attract small, medium and large businesses across a wide range of sectors – from office supplies to major construction projects. Bids submitted include a description on how the business can meet the project requirements through the service provide and/or supply the goods requested. They will also need to provide a competitive price for this work. Utilising a well-structured and thought out,...

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Tips to Properly Manage the Corporate Training Budget

6th August 2019
Training Discussion Workplace

Estimated reading time: 3 minutes   Though corporate training has been deemed as essential and vital for development and growth, a constraint in corporate training budget is actually one of the most commonly faced challenges for organizations. This perennial problem of limited budget has led to many organizations not investing enough in corporate training, leading to limited performance of employees. The results of an annual survey has shown that SMEs are less likely to invest in training partly due to their lack of resources.   Here are some tips that you can follow to ensure there’s enough budget for corporate...

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