Rystad Energy has revised its peak oil demand forecast to 2028
OFS
Posted inDRILLING & PRODUCTION
Collaboration is key: National energy companies should partner with suppliers to define new value creation avenues
BCG writes that NOCs must partner more closely with their supplier in the current economic downturn if they want to survive and thrive. Co-authored by • Arun Bruce, managing director and partner; Cristiano Rizzi, managing director and partner; Mayank Saxena, project leader
Posted inPeople
Weatherford appoints Girish Saligram as CEO
Prior to Exterran Corporation, Saligram spent 20 years with GE in positions of increasing responsibility as a functional and business leader in industry sectors across the globe
Posted inProducts & Services
SPARK and Kuwait’s NAPESCO plan $100 million investment in oil and gas facility
The facility will manufacture downhole tools, gyroscopes, and other oilfield equipment
Posted inProducts & Services
Covid-19 pushes OFS headcount to lowest level in over a decade, revenue per employee set to decline
Rystad Energy says revenue per employee is not likely to crash as hard as it did in the previous crisis
Posted inProducts & Services
Energy transition projects could replace up to 40% of the OFS industry’s lagging upstream revenue
In terms of market opportunities, most traditional oilfield service suppliers are looking to expand into low carbon segments
Posted inProducts & Services
Tendeka awarded five-year contract extension with Oman operator
The multi-million-dollar contract extends a long-term partnership originally established in 2002
Posted inProducts & Services
Global OFS demand set for 25% drop in 2020, slow recovery to start in 2021
The recovery will accelerate further in 2022 and 2023 but will not reach pre-coronavirus purchasing amounts
Posted inProducts & Services
Schlumberger announces technology license agreement with CNPC Logging
Agreement will enable co-manufacture of wireline downhole technology
Posted inProducts & Services
OFS stocks lost half their value since 2020 began
The best performers among services companies were in the EPCI sector