The Changing Landscape of Procurement in Oil and Gas Companies

The Oil and Gas companies around the world are destined to face the massive impact of climate change and regulatory changes that follow. There is already a shift in the global demand pattern due to the push for emission reduction and higher adoption of renewable energy sources. According to a recent survey by Accenture and the World Economic Forum, 56% of the millennials are interested in investing in solar panels and this shift to renewables along with the emergence of electric cars could lead to profits of USD 65-70 billion migrating from oil and gas companies to the broader energy ecosystem.

However, all is not lost for Oil and Gas companies in this global push for environmental solidarity. Digitization and procurement, in general, can act as enablers that can provide organizations with new avenues to tackle these challenges, keep a check on their profitability and provide value to all its stakeholders. Tune in to this latest podcast “ The Changing Landscape of Procurement in Oil and Companies” by Mr.Lalit Dhamija to understand –

• How the procurement practices in Oil and Gas industry different from those of other prominent industries
• What are the issues that organizations need to address in term of evolving their procurement practices
• What opportunities does digitization in procurement present to Oil and Gas procurement fraternity
• What are the challenges experienced by procurement leaders in Oil and Gas industry in leveraging the opportunities that digitization in procurement present

About Author –

Mr Lalit Dhamija is a fellow of the Chartered Institute of Procurement and Supply (CIPS). He is an experienced supply chain practitioner in Oil and Gas industry with over 38 years’ of experience. He is also an executive Chairman of CIPS UAE Branch Committees and regularly contributes to the procurement body of knowledge through active participation in events, seminars, and conferences. Lalit previously worked for Abu Dhabi National Oil Company (ADNOC) group as a ‘Procedure and Process Assurance Manager’ for 28 years till the end of 2017. He is currently active as a corporate procurement and supply chain trainer and consultant and travels globally for training and coaching C-Suite executives of MNCs. For more information visit his website – www.lalitdhamija.com