Photo: Illustration; Source: SP Mac

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Oil & gas sanctioning in the gutter, industry waiting for business to pick up

Global oil and gas project sanctioning in 2020 made a colossal drop in comparison to 2019 levels with Norway, and somewhat Russia, attempting to increase the total sanctioning value.

It appears that 2020 will pan out to be the “before and after” kind of year. There is a high probability that we will look back on the period up to 2020 as the “before the pandemic” and 2021 onwards as the “after the pandemic” in pretty much all facets of life. That means that 2020 will just be the time we don’t speak of – ever.

The oil and gas industry has already had some previous years it tried to forget as quickly as possible.

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