During challenging times such as these, it is even more important than ever to ensure companies within the terminal industry are allocating resources correctly and optimizing their performance.
Formed at the beginning of 2020 in Houston, Noon Advisory is an advisory and consulting practice dedicated to the energy, midstream, and chemicals industries worldwide. The company works with terminals, equipment suppliers and EPC providers to look for new opportunities as well as pinpointing areas they can increase profit and improve safety.
Noon Advisory Group is founded by Joe Nassif, who has over 10 years of experience at BASF as well as industry knowledge from working at Emerson, Odfjell, Kinder Morgan and NuStar Energy.
‘In the current scenario where tanks are full due to low oil demand & oversupply,’ Nassif explains, ‘throughput levels are reduced, which has an impact on profits. Noon Advisory can help identify and reduce bottlenecks to increase revenues.
‘We can also look at performance-based contracts for example to reduce the amount terminals spend on maintenance costs & capital projects and result in greater reliability and profitability from their service providers.’
When it comes to digital transformation, Nassif understands that the right automation can increase a terminal’s profitability by double digit figures. ‘Digitalisation plays a role in improving repetitive tasks as well as in high risk areas,’ he explains. ‘this can reduce labour costs significantly.’
Nassif also specialises in highlighting technologies that terminals may not be aware of to optimise processes.
Noon Advisory can provide project management training where required as well as expertise on M&As, due diligence and dispute investigation.
‘The current situation with Covid-19 is likely to accelerate the pace at which companies explore the energy transition and sustainability,’ Nassif explains. ‘It’s inevitable that the whole industry will eventually migrate towards more sustainable alternatives such as LNG, hydrogen and wind & solar, as these become more cost-effective.
‘We are able to provide advice on the best sustainability measures. There’s a lot of talk about installing solar panels on terminals at the moment,’ for example. ‘However this limits the tank to holding products that don’t require heating, so it might not be the best solution for everyone.
‘There are still many questions in the near term, he explains. ‘Will oil companies be bailed out? What is the long term outlook for the US shale industry? We don’t have all the answers, but we can certainly help companies with their investment, optimization and project management needs.’
For more information visit: www.noonadvisory.com