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Service Companies Consolidation
Tuesday 8th March 2011 (17:20 GMT)
Like many industries the oil industry has historically gone through periods of consolidation. Exploration companies have been bought by larger companies only for that company to be bought by an even larger company. Little fish eaten by bigger fish, eaten by large fish all swallowed by whales. Names join, merge or disappear altogether.
Service companies are projected to be the next sector of the oil industry to go through a period of consolidation. Aberdeen based Wood Group has sold a large part of it's business. The company may sell other departments as it looks to diversify it's interests in new sectors and areas of the world. More acquisitions, takeovers and mergers will follow.
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