Global energy industry may be on the path to recovery
There are indications that the global energy industry may be entering a recovery mode, according to the EIC Monitor. Tentative improvement in the renewable and power sectors are noted in the new quarterly report from the EIC, the leading trade association for UK companies that supply capital goods and services to the energy industries worldwide.
The EIC Monitor also shows the downstream sector has reached a plateau while the midstream and upstream sectors are still showing signs of economic volatility.
EIC Monitor tracks more than 7,000 projects in the global energy industry and provides an industry barometer, broken down into downstream, midstream, upstream, power and the renewables sectors. Data is analyzed by the number, value and, where appropriate, capacity of new active and proposed projects recorded by the EIC each quarter.
Key highlights of the Q2 2009 (April 1 - June 30, 2009) report include: