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Analysis: Oil service companies could benefit from energy transition

The hard-pressed service companies making a living in the global oil industry might be able to recover up to 40 percent of their upstream revenue in the short term by booking projects in the renewable energy transition, assesses analyst firm Rystad Energy.

Photo: Magnus Holm/Politiken/Ritzau Scanpix

Every cloud has a silver lining.

Such is the motto that many of the world's struggling oil service companies might benefit from noting right now. Companies servicing the global oil industry have otherwise had a tougher start to the year than most with both the corona crisis and an oil price in free fall, forcing many of the largest operators to cut costs and external services.

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