Industry experts are optimistic that the oil and gas storage space industry in some key global markets is positioned for significant increase driven by strong oil need, vivid logistics activity in the oil and gas, and durable global and residential trade activities. The international oil storage space sector is predicted to rise at a compound yearly development price of 4.2 percent from 2017 to 2023 according to the report of the Allied Market Research firm.
Southeast Asia is one of the leading global markets with considerable development potential. According to the report by Aruvians Study titled 'Analyzing the Global Oil & Gas Storage Industry,' the lack of storage space framework in significant oil-consuming states such as China is one of the major aspects behind the increasing regional oil storage space industry.
Among the background of the booming oil storage space market in the region, Renish Group, a fast-growing company in the oil storage area, has revealed the visit of Rakesh Mehra as its new Chief Executive Officer for Southeast Asia. Mehra has been appointed as the Group's Director - Strategy and Planning in the UAE too. He now leads the Group's total development and key operations in Southeast Asia, while concurrently pioneering the development and execution of its calculated business plans in the Emirates.
Mehra has built a strong record in the field of oil and gas. He has led multidisciplinary teams and demonstrated efficiency in managing varied teams and calculated vision for the management of modification and advancement within organisations. An inspirational leader that has actually regularly provided exemplary results, he is recognized for plainly defining goal and goals; effectively aligning individuals and resources as required; and successfully managing quick network development, infrastructure development, and strategic preparation programs.
Mehra, post his super-annuation from Bharat Oil Corporation Ltd. (BPCL), functioned as tactical advisor and specialist for numerous companies in Mumbai, India. In his significant six years stint as BPCL's Head of International Trade, he looked after the import of nearly 28 million tons of crude oil, import-export of oil products, and asset hedging. His effective handling of International Trade led to a considerable boost in the corporation’s profitability.
Hitesh Mehta, Managing Director, Renish Group, said: "Rakesh's appointment forms part of the Group's basic initiatives aimed at enhancing its connections with its customers and suppliers in Southeast Asia, among our most important markets, and various other components of the world. Besides being at the leading edge of establishing durable ties with our local partners in the region, he is also going to be hands on in developing Renish Group's critical plans. His beneficial contributions and abilities will certainly be instrumental in our bid to further attain a more lasting growth and advancement and provide high quality service to our international clients."
"I accept my new responsibilities in the organization with even more enthusiasm and passion and even greater willpower and dedication to the Group's general growth agenda during the ever-evolving industry. I expect carefully collaborating with my staff member to much better strategize and establish new frameworks that will allow us to profit from chances and confront new difficulties head-on," Mehra commented.
Renish Group's vision is to be a varied, transnational, integrated power trading company, with regional management and strong conscience for the setting. It plays an important duty in responsibly attaching products throughout individuals by exploring the supply chain worth.
Included in 2006 by Mehta, it is now a USD 600-million company with operations spread out globally. The Group runs workplaces in Dubai, India, and Singapore. Renish Group is including new storage capability storage tank in Hamriyah Free Area in the UAE to satisfy the ever-growing needs of its customers.