Industry Downturn…

[Anonymous]

How many of you guys/girls out there,can see there being a big downturn in the ROV industry in 2009 due to the economic recessions in nearly every country and the downward price of oil.Alot of companies in other industries are laying people off left,right and centre.What do you all think,will companies cancel or put off upcoming projects or will the price of oil change course and keep increasing.I know this is a bit of a Crystal ball type of question.Just wondered what you all thought??

[mind-when-this-was-fields]

No difference in 2009 as contracts are signed long before that.
Should be ok in 2010 but after that there could be a knock on effect from the price of oil just now.
Really need to see the price of a barrel rise and quick…….

[James McLauchlan]

I’m not sure 2010 will be that good. I would look to the end of 2009 when you may start seeing a lack of announcements for contract awards for 2010

The reality of this is that 2009 may well be the last year of this so called ‘boom’ because the oil co’s will be seeing the writing on the wall already and starting to scale back on further development.

Inspection will be the name of the game after then.

best regards

James Mc

[Savante]

http://news.bbc.co.uk/2/hi/business/7749582.stm

this was inevitable.

[Anonymous]

OPEC cuts down on output to keep oil prices artificially up as this is 50% of their income, not good for the consumer but if oil companies can finance their projects due to this than this might prevent a further energy crisis. Economical rise needs energy and with that skilled labour and prices will skyrocket again!

And with economical downturn no investments in renewable energy which isn’t about hugging trees but job creation and making us less reliable to unstable oil producing countries (Iraq, Venezuela, Nigeria…) and wasting money on expensive oil.

[Savante]

hay-men to that bru !! 😆

[pipetracker]

I’m not sure 2010 will be that good. I would look to the end of 2009 when you may start seeing a lack of announcements for contract awards for 2010

The reality of this is that 2009 may well be the last year of this so called ‘boom’ because the oil co’s will be seeing the writing on the wall already and starting to scale back on further development.

Inspection will be the name of the game after then.

best regards

James Mc

IRM SOWs will be the first to suffer. Don’t do this year what can be put off till next.

[Scott Beveridge]

OPEC cuts down on output to keep oil prices artificially up as this is 50% of their income, not good for the consumer but if oil companies can finance their projects due to this than this might prevent a further energy crisis. Economical rise needs energy and with that skilled labour and prices will skyrocket again!

And with economical downturn no investments in renewable energy which isn’t about hugging trees but job creation and making us less reliable to unstable oil producing countries (Iraq, Venezuela, Nigeria…) and wasting money on expensive oil.

Don’t forget how much money the last (outgoing) US admin has made as well…

[Author]

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