January 2021

Trends and Resources

Business Trends: Case EPC-2020: Increasing competitiveness and profits

Prior to the hardships faced during the global pandemic, the engineering, procurement and construction (EPC) industry was already facing several challenges.

Before the challenges of the COVID-19 pandemic, there were already issues within the energy market (especially in the oil and gas industry) that exposed challenges in the engineering, procurement and construction (EPC) sector. Low-cost competition by EPC firms from Asia was already putting margins under stress. Apart from the alarmingly low quarterly results from many publicly traded EPC firms, several articles pointed at fundamental problems—one of them being productivity. The gap in global energy consumption and low oil prices has decimated investments. An anticipated stream of projects in LNG liquefaction and other areas has dried up. It has been argued that Western EPC firms need to cre

Log in to view this article.

Not Yet A Subscriber? Here are Your Options.

1) Start a FREE TRIAL SUBSCRIPTION and gain access to all articles in the current issue of Hydrocarbon Processing magazine.

2) SUBSCRIBE to Hydrocarbon Processing magazine in print or digital format and gain ACCESS to the current issue as well as to 3 articles from the HP archives per month. $409 for an annual subscription*.

3) Start a FULL ACCESS PLAN SUBSCRIPTION and regain ACCESS to this article, the current issue, all past issues in the HP Archive, the HP Process Handbooks, HP Market Data, and more. $1,995 for an annual subscription.  For information about group rates or multi-year terms, contact email Peter Ramsay or call +44 20 3409 2240*.

*Access will be granted the next business day.

Related Articles

From the Archive



{{ error }}
{{ comment.comment.Name }} • {{ comment.timeAgo }}
{{ comment.comment.Text }}