Houston Republic

As the coronavirus continues to spread, industry leaders are investigating what the virus’ impact will be to local economies. 

According to Click 2 Houston, the oil and gas industries of Greater Houston are attempting to make well-informed responses to the virus outbreak, which has now claimed more than 5,700 lives worldwide. 

"So much of our supply chain is located in China, and I think that a crisis like this gives pause where companies are having to re-establish their risk management plans and diversify geographically what they do with suppliers and with their production facilities," Margaret Kidd, University of Houston Supply Chain & Logistics Technology program director, said. 

The Centers for Disease Control and Prevention made an announcement late February – warning of the upcoming outbreak of the virus in the U.S. – that triggered a number of significant stock market dips. Additional markets in Europe and Asia were impacted after the severity of the virus was announced. 

In response to the virus, companies such as ExxonMobile and Chevron announced they are taking a number of actions to ensure the disease is controlled as much as possible. For example, ExxonMobile has enacted restrictions on China travel and has a 14-day work-from-home policy for those who are returning from the mainland of China. 

“Our focus right now is on ensuring the safety and health of our entire workforce and to do our part to limit the spread of the novel coronavirus in the community,” ExxonMobil said in a statement.

Similarly, Chevron has decided to monitor the virus and is prioritizing the health and well-being of their employees, as well as taking precautionary action when it is merited. 

The Houston Health Department’s Health Authority, David Persse, explained that many companies are moving toward remote operations, such as teleconferencing, in order to limit face-to-face exposure to individuals who might otherwise be at risk of catching or spreading the disease.