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
28 April 2026
The key energy player faces balancing regional routes, political complexities, and creating a clear strategic vision for energy security
24 April 2026
The European Commission’s response to the Middle East crisis is to double down on its transition strategy, with plans for a new target on electrification
24 April 2026
A major new discovery by Eni and BP that can likely be fast-tracked to production is welcome news for Egypt as it scrambles to plug a widening supply gap and deal with rising import risks
24 April 2026
Countries in the region are turning to the cleaner-burning fuel for power generation, driving demand for imports
