We all know that crude oil continues to hover in the $30s per barrel. At the beginning of last week, it dropped below $35 per barrel, which hasn’t been seen since 2009! midstream Oil and Gas businesses are scrambling to figure out ways to maintain storage and transportation of crude oil without losing money. Companies are looking internally to cut costs and have laid off hundreds. In this economic climate it is difficult to avoid lay-offs altogether. However, as an alternative to releasing talent, businesses have an opportunity to improve operational efficiency and reallocate human resources to higher value positions. Here are a few ways midstream businesses can save money and headcount by addressing operational inefficiencies.

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Update - June 28, 2016 – StarBoard Solution Inc. operating out of San Diego, California is offering a full line of products under the new independent STARBOARD brand. Visit  http://starboard-solution.com to learn more. Customers can also call 800-615-9855 or email help@starboard-solution.com for sales and support.

Update - March 1, 2016 The transaction between Hitachi Solutions, Ltd. and ShenZhen iBoard Technology Co., Ltd. has been successfully completed. To purchase StarBoard products or receive support on existing StarBoard products, please call 800-615-9855 or email help@starboard-solution.com.

Tokyo Japan - December 11th, 2015 – Hitachi Solutions, Ltd., a leading global supplier of Interactive White Boards (“IWB”) sold under the “StarBoard” brand, today announced a change in its business strategy. As of February 1st, 2016, ShenZhen iBoard Technology Co., Ltd. (“iBoard”) will take over the “StarBoard” business for its global growth. Hitachi Solutions will maintain its focus on providing other various IT software, solutions and service to customers worldwide.

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We all know that midstream is a contract-based sector in Energy. Trading and logistics are all part of midstream commodity contract management. However, there are many contracts and requests that must be managed before commodities are transferred over to midstream businesses. Prior to any production many contracts such as concession, joint venture (JV), production sharing agreements (PSAs), and service contracts must be executed. Having an efficient contract management process is key. Let’s explore some best practices in contract management for Upstream Energy.

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