Related Articles
Forward article link
Share PDF with colleagues

Letter from Houston: OFSE gears up for the challenge

The sector is transforming towards a more digital, lower-carbon energy future

The oilfield services and equipment (OFSE) sector has, like most of the world, been in turmoil this year because of the triple impact of the oil price war, Covid-driven demand reduction and the resultant oversupply. These factors combined to bring cuts in production, capex and employment. New research of the economic activities of OFSE companies, which include oil and gas extraction, construction and manufacturing, by the Petroleum Equipment & Services Association (Pesa) shows OFSE employment in August was down by 121,000 jobs from the same month in 2019. Our analysis shows that 103,000 of those lost jobs are attributable to the pandemic. In Texas, OFSE employment is down by 59,000 year



{{ error }}
{{ comment.comment.Name }} • {{ comment.timeAgo }}
{{ comment.comment.Text }}
Also in this section
Gulf renewables giants power into Central Asia
10 May 2021
Riyadh and Abu Dhabi are exploiting existing ties to corner the region’s burgeoning clean energy sector
Entropy’s low-cost modular CCS technology
7 May 2021
Post-combustion modular technology allows capture of emissions from most common sources of industrial process rather than just largest single source
Batteries, hydrogen and CCS key to transition
7 May 2021
Reaching net-zero emissions will require widespread deployment of all three technologies
Sign Up For Our Newsletter
Project Data
PE Store
Social Links
Social Feeds
Featured Video