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Productivity at the core: How COOs deliver strategy

McKinsey

percent in the decade between 2012 and 2022. Operations leaders can also find new approaches to increase asset reliability, including through refined preventive and predictive maintenance  programs and enhanced root-cause problem-solving capabilities. Even before the crisis, advanced economies’ productivity growth receded from 2.2

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VC Summer Nuclear Station in South Carolina Gets 20-Year Extension

Rigzone

Summer had been licensed to operate from 1982 to 2022. Summer’s longevity, Dominion Energy regularly performs maintenance and conducts upgrades at the station, including recently replacing the main transformer”, the Richmond, Virginia-based utility said. A renewal awarded 2004 extended its life for 20 years to 2042.

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Diesel's Supply Crunch Leaves Market Crying Out for Barrels

Rigzone

In northwest Europe, the premium for more immediate supplies over the following month surged to $44 a ton on Friday; excluding the often volatile days when futures contracts expire, that’s the strongest since late-2022. “European inventories may not build in July, which leaves them in a very fragile position.

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US will not complete oil deliveries into its reserve until year-end

Oil & Gas 360º

will not complete scheduled deliveries of crude oil into the Strategic Petroleum Reserve until the end of the year due to maintenance, as much as seven months behind schedule, the Department of Energy said on Thursday. billion for purchases and SPR maintenance. (BOE Report) – The U.S. So far this year only 8.8

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EnerMech secures two-year cranes extension in North Sea

Oilfield Technology

The current agreement, which began in August 2022, will now run until at least August 2027. This latest agreement underscores EnerMech’s growing reputation as a trusted partner in offshore lifting operations and maintenance, reinforcing its long-term commitment to supporting safe and efficient production in the North Sea.

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Trump’s flip-flop on emergency oil reserves has its merits: Bousso

Oil & Gas 360º

SPR levels dropped to a 40-year low of 347 million barrels in July 2023 after Trump’s predecessor Joe Biden carried out several SPR sales to ease rising oil prices, including releasing 180 million barrels in 2022 after Russia’s invasion of Ukraine sparked concerns about a global energy shortage. crude prices and take years to accomplish.

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The European asset management industry: Navigating volatile times

McKinsey

Lower profitability and increased volatility in asset management The European asset management industry began to recover in 2023 following a severe decline in 2022, according to McKinsey research. But European profit pools haven’t recovered from the challenging years of 2022 and 2023. percent flow effect, compared with 0.9