O&G service industry ripe for consolidation with bottoming out of oil prices


Dateline 2017-01-26, Borneo Post:

Despite the global uncertainty brought about by recent events such as Brexit and policy direction of the Trump’s administration, the outlook for energy and environment markets in 2017 is largely viewed to be balanced with a slight positive inclination.

This follows a period of downward revisions to the economic growth forecasts and volatility in financial and commodities markets globally, impacted by the slowdown from China and oil prices slump over a two year period.

The Conference of Parties (COP22) discussions in Marrakech were clouded by Trump’s threat to pull the US out of the COP21 Paris climate change accord.

While it may be difficult for the US to unilaterally scuttle the accord, since most of the world countries have affirmed their commitment to de-carbonisation, the challenge lies in actually meeting the US$100 billion/year financial commitments and also agreement on the transparency of future climate monitoring.

 

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