Oilfield Services Procurement Research – Market Trends and Spend Analysis by SpendEdge
Global procurement intelligence advisory firm, SpendEdge,
has announced the release of their ‘Oilfield
Services Market Procurement Research Report.’ The insights and
data in this report provide a strategic analysis of the supply markets,
factors influencing purchasing decisions, procurement best practices,
pricing models, supplier landscape, and an analysis of the supplier
capability matrix for the chemicals
industry. This report breaks down the data and analysis behind
the procurement of oilfield services and acts as an all-inclusive guide
for making smart purchasing decisions.
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https://www.businesswire.com/news/home/20180430005129/en/
Oilfield Services Procurement Report. (Graphic: Business Wire)
“A gradual recovery in global oil and gas prices will be one of the
major factors contributing to the growth of the OFS industry,” says
SpendEdge procurement analyst Anil Seth. “North America is considered as
the largest market for OFS owing to the demand for OFS from the shale
industry in the region,” added Anil.
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Procurement analysts at SpendEdge highlight the following top three
market trends that are contributing to the growth of the Global Oilfield
Services Market:
-
Growth in exploration of unconventional oil and gas reserves
-
M&A among OFS providers
-
Rise in OFS costs for buyers
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Growth in exploration of unconventional oil and gas reserves
In recent years, oil and gas exploration from unconventional reserves is
gaining popularity, which is motivating countries to explore the
commercial viability of their unconventional sources.
M&A among OFS providers
Globally, OFS companies are engaging in M&A activities to expand their
service portfolio. This will help the suppliers gain a better bargaining
power over their buyers. Also, the buyers can rely on integrated service
providers for the entire spectrum of OFS requirements.
Rise in OFS costs for buyers
In the oilfield services market, the prices of oil and gas are
stabilizing, which will increase the cost of their services. Also, the
rise in OFS costs will affect the profit margins of IOCs. However, it
will provide a better opportunity to the IOCs to negotiate on the
quality of products and services offered.
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About SpendEdge
SpendEdge shares your passion for driving sourcing and procurement
excellence. We are a preferred procurement market intelligence partner
for Fortune 500 firms and other leading companies across numerous
industries. Our strength lies in delivering robust, real-time
procurement market intelligence that helps sourcing and procurement
professionals make informed decisions. These innovative procurement
solutions help enterprises transform structural capabilities, improve
execution efficiency, and fast-track time to savings.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180430005129/en/
Copyright Business Wire 2018
Source: Business Wire
(April 30, 2018 - 3:15 PM EDT)
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