In its ninth year, EIC’s Survive and Thrive initiative continues to research the 15 most popular growth strategies used by the world’s energy supply chain in challenging market conditions. New and important findings have been revealed, such as the trend for businesses and skilled works to relocate in their droves to the Middle East, in response to short term and inconsistent energy policies and project delays in many other parts of the world, attracted by the longer term and all-energy technology polices, and the much higher supply chain growth rates in the Middle East.
The report featured 139 success stories and insights from 138 EIC member companies and underscored the need for all regions to learn the lessons of the Middle East.
Exporting to new markets remained the least used growth strategy due to excessive risks, cost, and time to market. Companies called for more government support and funding with market access. The #1 growth strategy was to develop client-facing solutions and services, with 82% of these companies working directly with operators and Tier 1 EPCs.
The World Energy Supply Chain Awards aims to recognise excellence from all companies and organisations across the energy industries globally. In their business cases featured in the Survive & Thrive Report, the EIC member companies can demonstrate how they faced a specific challenge and introduced a new business solution or any initiative that drove successful result.
The EIC has held its traditional National Dinner in London since 1955. The event has been the must-go-to occasion to celebrate the energy industry and network in a fun and memorable social setting.
In 2005 the EIC included the Awards ceremony in the National Dinner schedule. More recently, the EIC Awards programme has grown globally, and now its ceremonies are held in London, Dubai, Kuala Lumpur, Houston and Rio.