Service frms: Price spikes signal tough transition

摘要

The energy crisis in Europe and Asia-Pacifc is further evidence that the road towards a lower-carbon future will not be smooth, according to some of the biggest oil feld service companies. High oil and surging natural gas prices are underpinning service-sector expectations of a strengthening recovery in their oil and gas businesses. “As we are witnessing now and saw in the third quarter, the world requires a greater supply of oil and gas,” Halliburton chief executive Jef Miller says.