Upstream oil skills are transferrable to wind sector
Oil and gas services firms pivot to renewables
Companies respond to safeguard their businesses following the outperformance of renewables during the pandemic
Firms involved in the renewables supply chain suffered less during the Covid-19 pandemic than those in the oil and gas sector, according to two sets of figures released on Thursday. And this is prompting some leading oil and gas service companies to adjust their strategies. The wind and solar PV sector saw an 18pc growth in revenue in 2020 compared with the previous year, whereas firms in the oil and gas sector saw a 23pc revenue drop over the same period, according to analysis of 170 suppliers by research firm Rystad Energy. Revenues from firms exposed to the upstream oil and gas sector have been particularly hard hit; well services firms experienced year-on-year revenue falls of 35pc while
Also in this section
19 May 2025
The two Gulf states are combining fossil fuel production with ambitions to become leaders in low-carbon energy
14 May 2025
Deal with Calpine shows oil and gas major ExxonMobil has no intention of curbing its CCS ambitions, despite US policy risks and broader scepticism over the energy transition
13 May 2025
Volatile tariffs add new risks for a sector already struggling to achieve economies of scale
30 April 2025
State administrations are using a flawed metric to justify green energy projects
