On the 14th of May, 2020, the CEO of SpringRock Group, Eke U. Eke was interviewed by The Year Energy, on the steps SpringRock has taken as a company to protect its personnel and ensure business continuity during the pandemic, as well as the best timing for Nigeria to begin pursuing renewables.
The interview also covered the impact of the Covid-19 pandemic on businesses, highlighting how Oil and Gas operators can cope with the reduction in oil price, production volumes, opportunities for industry stakeholders to focus on Research and Development, Africa’s energy transformation, and lots more.
Mr. Eke also gave his take on best practices that local industry players should look at in cost reduction, he however also stated that, “any rate adjustments being made now should be time limited. Once the oil price gets back into a reasonable zone, rates should also go back up to wherever they were prior to the crisis. It is important that these adjustments are brought back up based on the behaviour of the oil price.” He further outlined other areas of cost reduction which may have more significant impact.
This is following the demand-sapping corona virus pandemic and a global oil price drop due to the pandemic that rocked the industry in the first quarter of 2020.
Click HERE to read full interview.