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
12 December 2025
The federal government is working with Alberta to improve the country’s access to Asian markets and reduce dependence on the US, but there are challenges to their plans
12 December 2025
The latest edition of our annual Outlook publication, titled 'The shape of energy to come: Creating unique pathways and managing shifting alliances', is available now
11 December 2025
The removal of the ban on oil and gas exploration and an overhaul of the system sends all the right messages for energy security, affordability and sustainability
10 December 2025
The economic and environmental cost of the seven-year exploration ban will be felt long after its removal
