Ensuring continuity on oil & gas is a must for several companies working in such a crucial field. We are talking, of course, about the effects of the Covid-19 pandemic that is affecting the whole world. Two valuable examples come from MOL Group and JCB.
As for the Hungarian MOL Group, a primary brand indeed as for oil and gas exploration with production assets in 13 countries and beyond 26,000 people employed worldwide, operations and production continue uninterrupted, with optimized operations schedule and volumes wherever necessary. The company is focusing on protecting the health and safety of its employees, adjusting operations to minimize the spread of Covid-19 and adapting its production volumes to the altered market demand.
Continuity in oil & gas: the actions taken by MOL Group
Covid-19 emergency measures by governments in MOL’s countries of operations have resulted in partial or full lockdown, significantly slowing down economic activity in the company’s core CEE countries. In order to remain resilient, MOL Group has updated its financial and operational guidance.
Due to the uncertainty about the duration and impact of the coronavirus pandemic, the extreme volatility of the external environment, and the unpredictability of demand across the businesses, MOL is withdrawing its EBITDA guidance for 2020.
MOL Group’s Chairman-CEO Zsolt Hernádi commented: «The world is facing an unprecedented challenge. Our life has changed completely in the last few weeks. The energy industry, while better positioned to weather the economic hardships than some others, enters a period of uncertainty it has probably never faced before, with scenarios ranging to extremes, which were impossible to imagine even a few weeks ago».
A project involving JCB in Italy
Very different company, same high attention for the oil & gas sector. JCB, in fact, is working in Italy, and precisely in the Abruzzo region, by selling four excavators intended to operate within a methane pipeline construction site. The buyer is Alma C.I.S. and the project, more into details, is about a 7.7 km methane pipeline.
The machines purchased are four JCB JS220 NLC hydraulic tracked excavators, powered by JCB Power Systems Ecomax. These are among the most versatile machines for earth moving applications, capable to combine excavation as well as lifting high quality.