As Covid-19 infections continue to increase around the world and the implications of the pandemic’s spread are acknowledged in key markets in the Americas and Asia, Rystad Energy is now changing its base case scenario for oil demand, incorporating a mild second wave effect.
Following the release of Schlumberger’s Q2 2020 earnings call;
Hit by the Covid-19 downturn, the oilfield service market is not likely to rebound to last year’s activity level until 2023 according to a Rystad Energy analysis. However, suppliers could diversify some oil and gas capabilities and replace up to 40% of 2019’s revenue by servicing the renewable markets.
Huntington Ingalls Industries’ (NYSE:HII) Technical Solutions division announced that it has completed a strategic equity investment in Sea Machines Robotics, Inc., a Boston-based autonomous technology company that specializes in advanced software for unmanned surface vessels (USVs).
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