Our Reporter
Stakeholders in the global energy market need to work more to shore up the market’s resilience, Chief Operating Officer, Sahara Energy Resources DMCC, Dubai, Andrew Laven, has said.
Laven explored some of the key lessons from the COVID-19 pandemic for the energy market in an article for leading trade publication, Energy Voice, under the title “Finding the new norms in the post-COVID supply chin”.
Sahara Energy Resources DMCC, Dubai is an affiliate of energy conglomerate, Sahara Group, which has operations in Africa, Asia, Europe and the Middle East.
Laven said: “The path to recovery is likely to be bumpy and everywhere will be moving at a different pace, so more of a wide U-shape than a quick V.
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Whatever the path, oil will be a critical element of the recovery. Even though there is not much we can do to stimulate demand, the sector must prepare for recovery: positioning all aspects of the value chain to supply energy to countries, communities and individuals.”
According to Laven, the market needs to brace for a shift in consumption, following the disruptions caused by the pandemic.
“A shift in consumption – for example more driving, less flying – will see demand for products change. Refineries may need to change the way they operate and produce different proportions of each fuel, which may see some refineries unable to operate economically and being forced to close.
Where things change, though, there are also opportunities for new energies – when demand starts to pick up maybe the world will use it as an opportunity to take a step towards cleaner energies,” he said.
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