PE Live: OFSE sector being reshaped by downturn
Oilfield services and equipment companies that survive the era of low prices are likely to emerge leaner, more innovative and with a greater focus on green energy
The dramatic fall in demand and prices for oil and gas due to the Covid-19 pandemic is forcing oilfield services and equipment (OFSE) companies to reinvent their business models, participants in the fourth PE Live webcast heard today. “In more than 20 years, I cannot remember fundamentals deteriorating so quickly. And there is still plenty of uncertainty to how markets will develop, whether demand will ever go back to pre-crisis levels and what it all means for the OFSE sector,” says Celine Delacroix, global head of oilfield services at professional services firm EY. This OFSE sector was still recovering from the 2014-15 oil price crash when the pandemic started but “it is sad to say that th
Also in this section
17 February 2026
The 25th WPC Energy Congress, taking place in Riyadh, Saudi Arabia from 26–30 April 2026, will bring together leaders from the political, industrial, financial and technology sectors under the unifying theme “Pathways to an Energy Future for All”
17 February 2026
Siemens Energy has been active in the Kingdom for nearly a century, evolving over that time from a project-based foreign supplier to a locally operating multi-national company with its own domestic supply chain and workforce
17 February 2026
Eni’s chief operating officer for global natural resources, Guido Brusco, takes stock of the company’s key achievements over the past year, and what differentiates its strategy from those of its peers in the LNG sector and beyond
16 February 2026
As the third wave of global LNG arrives, Wood Mackenzie’s director for Europe gas and LNG, Tom Marzec-Manser, discusses with Petroleum Economist the outlook for Europe’s gas market in 2026
