Brent crude is the most traded oil benchmark, and it is defined as crude primarily drilled from North Sea oilfields. This oil is commonly used because it is sweet and light, making it simple to convert into diesel fuel and gasoline. This, combined with the relative simplicity of transporting it due to its production at sea, explains why it is so widely trafficked.
Published in Chapter:
Investigating the Impact of COVID-19 on the Oil and Gas Supply Chain in the Middle East: A Case Study of Egypt
Amr Ekram (Arab Academy for Science, Technology, and Maritime Transport, Egypt),
Sara Hassan El-Gazzar (Arab Academy for Science, Technology, and Maritime Transport, Egypt), and
Hebatallah El Mesmary (Arab Academy for Science, Technology, and Maritime Transport, Egypt)
Copyright: © 2023
|Pages: 15
DOI: 10.4018/978-1-6684-4686-7.ch007
Abstract
The oil and gas supply chain (OGSC) significantly impacts numerous operations in multiple industries. However, lately, it encountered myriad disruptions like global oil supply and demand mismatch due to COVID-19. Therefore, the case studies the oil and gas supply chain in Egypt during COVID-19 as Egypt is Africa's largest oil exporter outside of the Organization of Petroleum Exporting Countries (OPEC) and the continent's third-largest natural gas exporter, and its economy is heavily reliant on the oil industry. The unique organizational structure that makes up the OGSC in Egypt is fully controlled by the Egyptian Ministry of Petroleum, which deals with all the disruptions that occur in the Egyptian petroleum sector differently. The case investigates the disruptions that OGSC faced in Egypt due to the pandemic and provides researchers with an understanding of the challenges in the sector and the proposed solutions by the sector in Egypt, in addition to the recommendations provided by experts in the sector.