IOEC and Iran’s Black Gold

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Iran’s international relations and trade is heavily centered around two products: oil and gas. Its natural resources have kept the Middle East country in a dispute with its largest buyers, the U.S. and Europe.

The  Iranian Offshore Engineering and Construction Company (IOEC) is at the middle of this discord. It is the Iranian leader oil and gas contractor. Given that Iran boasts the fourth largest oil reserves in the world, IOEC has a role of global significance.

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What can a construction company like Group Five do for the environment?

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Currently, between 40 and 50 percent of global energy resources are used in the construction, maintenance and operation of buildings.

I propose that we turn off that light that we are not using and read about how the construction industry has organized itself to improve its impact on the ecosystem.

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BP Oil: How to recover from Disaster- Answer 2

Self_verification_SOR_audit_375xDevelop a Safety and Operations Risk Function

BP created a Safety and Operations Risk function (S&OR) that could quantify that amount of risk that the company was taking throughout its operations.  The function sets clear requirements, maintains and independent view of operating risk, provides deep technical support for the operating business, and intervenes when necessary to cause corrective action. Continue reading

Turner Construction’s Formula for Success

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How can you successfully optimize processes in a company with 5000 employees and 1,200 active projects? Is there a formula to make all the challenges solve favourably?

Turner Construction International LLC can claim to have found the recipe to make business strategy an exact science.

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BP Oil: How to Recover from Disaster

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On May 20, 2010 the Macondo Prospect exploded in the Gulf of Mexico, taking 11 lives as well as opening a sea floor oil gusher that would spew toxic oil into the ocean for the next 87 days.  In total, it is estimated that 4.9 million barrels of oil flowed into the Gulf of Mexico, causing devastating consequences for the ecosystem.  Who was responsible for this disaster?

After various investigations it was found that faulty operations within British Petroleum were the primary cause of the explosion and the subsequent oil spill.  This unprecedented disaster did not slip by the public-eye unnoticed, and the spill made headlines throughout its 87 day lifespan.

As a result, BPs public image was destroyed and there share price dropped from 528.80 to 298 from May 20 to June 29.  Although there was this extreme drop in company share price, today the company remains as one of the largest, strongest and powerful in the world.  So how did BP recover from this catastrophe?

 In my 4 subsequent posts I hope to answer this question.

– BP Oil: How to Recover From Disaster- Answer 1

– BP Oil: How to Recover From Disaster- Answer 2

– BP Oil: How to Recover from Disaster- Answer 3

– BP Oil: How to Recover from Disaster- Answer 4