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WorldPosted at: Sep 8 2020 4:15PM


Russian oilfield services market could halve by 2022 unless supported - Energy Minister

Moscow, Sep 8 (Sputnik) Russian oilfield service market could halve in 2020 and 2021, compared to 2019, unless it is supported, Energy Minister Alexander Novak said Tuesday.
"As for the situation in the Russian companies, the oilfield services market could decline by almost half in 2020 and 2021, compared to 2019," Novak said in an article for "Energeticheskaya Politika" (Energy policy) magazine.
Smaller market would lead to tougher competition, which could create problems for some of the companies, the minister wrote.
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