Oil news
The Oil & Gas and Petrochemical market is surging on Q2 2021.
Along that year, the Covid and the mass communication about energy transition affected heavily projects investment decisions. So, that 2021 started in great uncertainty. But the demand was there. Therefore, we could observe a well loaded funnel of projects for sanction in 2021 and 2022.
In this period of social and economic confusion, Gas projects seem to benefit from an exceptional stability.
The level of investment for gas projects is equal in 2020 to 2019.
As part of the underlying Oil & Gas and Petrochemical market revolution, the business model for projects is changing.
In fact, the new business model is a return to the basic of ROI (Return on Investment) calculations.
Thus, the new business model aims to shorten project timeline while controlling costs. Delivering “Fast-track” projects in 2-3 years.
Surprisingly, the Oil & Gas and Petrochemical market stands robust on Q3 2020 by reaching 12 months 2019 capital expenditure.
Where do we stand 6 months in 2020?
we decided to investigate the reality of data and crunch our numbers from www.projectsmartexplorer.com to make an inventory halfway through the year.
Today trends on the market give us the forecast Capital Expenditures for 2020 should end-up at the same level or above compared to 2019. Previsions for 2021 are also high, fueled by projects postponed.
Medias have largely covered the last weeks Ups and Downs of the Oil & Gas and Petrochemical industry. Well, mostly the Downs in fact.
To figure out the reality, we crunched the numbers from our database www.projectsmartexplorer.com
In fact, the outlook of the Petroleum industry is rather different than what has been massively reported.
