The COVID-19 pandemic has had far-reaching economic consequences beyond the spread of the disease itself and efforts to quarantine it. The responses to the pandemic have resulted in global social and economic disruption, including the largest global recession since the Great Depression. History shows that periods of crisis, disruptions, and the subsequent future uncertainties, are often the most forceful catalysts for structural changes.
For downstream companies, that have historically witnessed demand deviations within very narrow ranges, the emerging patterns and the long-term outlooks on energy demand are truly shape shifting. The permanent shifts in the industry's ecosystem mean the rules of the next normal will be arduous. Faced with these unprecedented challenges that threaten their financial and physical resilience, refining companies will need an entirely new DNA to prepare for the opportunities and threats in the new world that lies ahead once the immediate crisis is past. A knee-jerk reaction would only cause a multi-billion dollar error.
So how do refinery operators navigate the crisis, survive & thrive? How do they redesign their production profiles and reconfigure yields to meet unexpected demand changes? How do they prepare for the energy transition & create value in the next normal?
Themed “Future Downstream - Digital, Configurable & Sustainable”, the Global Refining & Petrochemicals Congress 2021 – India's flagship downstream industry forum, will bring together, face to face, hundreds of policy makers, asset owners, licensors, contractors, technology majors, research organisations & equipment suppliers during August 2021 to explore the post pandemic energy landscape, foster collaboration & help the industry find pathways for building the new downstream model. A model that is agile, innovative, digital-led & sustainable, potentially very different from today.
The time for visionary thinking and bold action is now. Join us to explore how the crisis is a catalytic moment presenting new opportunities & how flexibility will be the refiner's brahmastra!N. K. Bansal
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