Oil & Gas

The global oil and gas market is currently going through an unprecedented transformation, triggered by efforts to reduce carbon emissions and rely on more renewable and environmentally friendly energy sources. The digitalization and automation of processes accompanying this shift represent enormous opportunities, and the market is poised to witness...

Technological and digital trends are transforming the oil and gas industry. Main players commonly choose operational technologies (OTs) to carry out the automation of their oil and gas processes; however, newer technologies, such as AI, IoT, and robotics are starting to gain more relevance in the industry. Oil and gas companies adopted automati...

The global refining market is characterised by a high demand for petrochemicals and fuels for automobiles, which will keep the market growing for the next decade. Expanding population, increasing affordability, higher automobile penetration, lower oil prices, and increasing investments by companies in the developing regions of the world will aid in...

The oil and gas industry has seen by many as major source of pollution in the world. Chemicals such as carbon dioxide and methane have been released to the atmosphere. The cumulative volume of both gasses, along with other harmful substances are massive. Decades of harmful emission has led to serious consequence, particularly on the deteriorating a...

Blockchain is predicted to disrupt majority, if not all, of industries in the medium term. At the moment, the development of blockchain technology is already gaining momentum and it is already advancing in number of industries, oil and gas included. The core technology that blockchain can provide, which is distributed ledger, is seen as medium to i...

This study is an overview of future technological trends in oil & gas completions design. Whether for an operator, a contractor, or a start-up, Frost & Sullivan believes that open collaboration and idea sharing will drive business opportunities and progress in the industry. To that end, this study has 3 goals: • Describe key areas of technolog...

Oil sludge is produced at various stages of the oil industry from exploration, production, transportation, processing, and storage. Majority of the sludge is produced at waste water treatment plants considering that large quantities of water are used at critical nodes of the refinery process including desalting, thermal cracking, distillation and c...

With unprecedented increase in the global population, dependency on primary resources including water, food and energy also increases. This has resulted in the rapid dwindling of resources at a greater rate which cannot meet the increasing demands of the rising global population. Therefore, it is necessary to promote sustainable technologies that s...

01 Feb 2018  |  Global

Impact of Low Oil Price on Oilfield Equipment and Service Market, 2017

The Oilfield Service and Equipment Market Experienced a Double-dip Negative Growth in 2015 and 2016, but is Expected to Rebound with the Recovery of Oil Prices

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Key Issues Addressed

The global oilfield services and equipment market is still recovering from the 2015 oil price crash, as oil companies are still trying to consolidate their position by reevaluating their capital expenditure. The oilfield services and equipment market has four main segments - drilling, completion, capital equipment, and production. While some segmen...