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Journal of Electrical Power & Energy Systems

ISSN Print: 2576-0521 Downloads: 19506 Total View: 258960
Frequency: semi-annually ISSN Online: 2576-053X CODEN: JEPEEG
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Article http://dx.doi.org/10.26855/jepes.2024.06.003

Sustainability and Resilience in the Oil and Gas Industry: Post-COVID-19 Strategies and Innovations

Ogochukwu C. Nweke1,2,*, Emmanuel Kweku Amoako Appiah3

1School of Business, Leadership and Legal Studies (SBLL), Regent University College of Science and Technology, Accra, Ghana.

2Faculty of Law, Governance and International Relations, Kings University College (KUC), Accra, Ghana.

3Customs Division, Ghana Revenue Authority, Accra, Ghana.

*Corresponding author: Ogochukwu C. Nweke

Published: July 12,2024

Abstract

The COVID-19 pandemic has profoundly impacted the oil and gas industry, disrupting supply chains, reducing demand, and exposing vulnerabilities within the sector. This document explores the multifaceted effects of the pandemic on the industry, examining key areas such as operational disruptions, oil price volatility, employment challenges, and financial risks. The study highlights the importance of digital transformation, renewable energy integration, workforce development, and sustainability practices as critical strategies for navigating the post-pandemic landscape. References were made to leading companies like Shell and Equinor to illustrate successful adaptations and innovations that have enhanced resilience and positioned these companies for long-term success. Additionally, the document reviews relevant legal cases, including Scottish Power UK Plc v BP Exploration Operating Co Ltd [2015] EWHC 2658 and DHL Project & Chartering Limited v Gemini Ocean Shipping Co Ltd [2022] EWHC 181 (Comm), which underscore the necessity of robust contractual provisions and credit risk management. The recommendations provided aim to guide the industry towards a more sustainable and resilient future, balancing short-term recovery with long-term strategic goals.

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How to cite this paper

Sustainability and Resilience in the Oil and Gas Industry: Post-COVID-19 Strategies and Innovations

How to cite this paper: Ogochukwu C. Nweke, Emmanuel Kweku Amoako Appiah. (2024) Sustainability and Resilience in the Oil and Gas Industry: Post-COVID-19 Strategies and Innovations. Journal of Electrical Power & Energy Systems8(1), 13-21.

DOI: https://dx.doi.org/10.26855/jepes.2024.06.003