Corona virus affects oil and gas expensesgcadmin
– Why does the oil sector need to cut capital expenditures?
The oil expert engineer Abdelhamid Al-Awadi pointed out that the recent circumstances
and the corona crisis that the country and the whole world are experiencing,
has led to a lot of high economic risks due to the corona epidemic, which has significantly affected the decline in oil prices significantly, due to the cessation of global economic activity, and the decline in demand for oil.in this context, he pointed out that this requires the rationing of expenses to cope with the significant decline in demand and reduce the resulting loss temporarily, noting that this phase is temporary and linked to the improvement of health conditions in the country and the world, as well as the economic conditions that the world is experiencing.
Dr. Awad al-nasafi, deputy director of academic programs at American International College, said that the reduction of budgets and restructuring of expenses at this time, with the decline in world oil prices, is justified, especially if it relates to capital expenditures and the replacement costs of equipment and assets of the company.
He added that the importance of reducing costs and restructuring expenses resulting in a significant change in the Institute’s strategic plan in advance will also entail the re-calculation of income and expenses, as a result of the significant decline in oil prices, which is a routine procedure for companies to rethink their financial plans previously prepared.
– The role of the Gulf Center in the oil sector?
The current crisis is having a significant impact on Kuwait’s economy and the world as a whole; therefore, it was necessary to provide the world’s latest technology to protect the oil sector and help reduce capital costs and machine replacement costs by providing Metaline surface protection to all oil sector companies in Kuwait.
GC-Metaline Protection in the oil sector will help.
- reduce the costs of repair and replacement of industrial equipment protection from corrosion and damage resulting from a difficult environment, where wells of Petroleum.
- increase the efficiency and lifespan of equipment, reducing the cost of periodic replacement of equipment by more than one third.
- protection from holes, leaks, and reconstruction of damaged surfaces through non-stick insulator on surfaces; in order not to affect the weight and efficiency of the equipment.
Protection of Metaline in the oil sector includes on.
– When do you need to protect Metaline surfaces from the Gulf Center?
In the case of corrosion of surfaces, rust, and small holes.
You replace the machines over and over again during the operation period.
High depreciation costs for equipment.
Protect new equipment, increase its life, and protect it from corrosion.
Contact us now and get a free visit and field study activity you complete industrial solutions of appropriate
To provide the best protection at the lowest cost and the highest efficiency from Gulf Center United Industrial Equipment and Metaline.