LONDON--(BUSINESS WIRE)--#energyindustry--Infiniti Research is the world's leading independent provider of strategic market intelligence solutions. Our market intelligence services are designed to connect your organization’s goals with global opportunities. Infiniti Research has announced the completion of its latest article on spearheading transformations in the oil and gas supply chain.
As the supply chain spending by operators has been cut back due to crumbling crude prices, the Oil Field Services and Equipment companies (OFSE) have been losing business. To cope with the changing market conditions, companies in the oil and gas industry have cut down costs and, in some cases, made changes to their business models to thrive. Players in the oil and gas industry are confronting significant strategic challenges and complex decision-making due to volatile market conditions. Request a free proposal to know more about how we can help oil and gas companies formulate sustainable business strategies.
According to experts at Infiniti Research, here are some critical considerations for the C-suite in the oil and gas sector to stabilize revenues and cope with market transformations:
Cost-cutting
The oil and gas industry has grown exponentially over the years, owing to soaring crude prices in both domestic and international markets. However, the current oil and gas industry landscape and the recurring need to cut down prices have come as a big blow for oil and gas companies. Operators are now rediscovering the spirit of efficiency to overcome these challenging times. Tactical initiatives such as project postponements, expenditure cuts, and staff reductions are increasingly being given importance, and OFSE firms are responding by cutting back on their own service and manufacturing footprint to cope with less activity, lowering their costs for solutions delivered.
In the past 15 years, we have undertaken 500+ projects across all major regions and industry sectors, helping clients plan and execute the strategies required to sustain and grow. Get in touch with our experts for more insights on our market intelligence solutions and how it can help your organization.
New revenue models
New revenue models have emerged in the oil and gas sector, including performance-based contracts that combine equipment and services and participation in project financing. This allows oil and gas companies to give operators more flexibility by reducing their cost base and need for investment during challenging times.
Investment in new technologies
Investments in modern technologies are facilitating oil and gas companies to capture new growth and attain sustainability. Many OFSEs now are redesigning equipment using modular designs to drive out inefficiencies and achieve maximum cost reduction.
Our custom market intelligence solutions can help oil and gas companies to manage uncertainty and improve performance through analysis, insights, and benchmarking. To learn more, request for more information.
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