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'Squeezing the Green': How to Cut Petroleum Downstream Costs and Optimize Processing Efficiencies with Enterprise Project Portfolio Management SolutionsDownstream companies must grapple with new compliance constraints, permitting hurdles, and risk-reduction measures in an ever-evolving regulatory environment. Adding to the urgency is the uncertainty over future regulatory regimes, which complicates planning and budgeting for both long and short-term projects. Combine that regulatory uncertainty with a still-recovering global economy and the traditional volatility of an industry whose fortunes are tied to commodity price movements, and you have a daunting mix of challenges for managing refinery and petrochemical projects throughout their life spans. Project lifecycle management solutions, such as enterprise project and portfolio management (EPPM) solutions from Oracle, enable executive and project leaders at downstream companies to successfully manage costs and reduce risk in such a volatile climate. This paper will address key management issues facing the downstream petroleum industry from an enterprise project and portfolio lifecycle perspective and then show how EPPM solutions can help minimize risk and cut costs.
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