One such event was the COVID-19 pandemic. The pandemic disrupted global supply chains and caused a sharp drop in oil demand, resulting in a historic price collapse. As a result, many oil and gas companies had to reduce their operations, resulting in a decline in demand for products and services provided by oilfield supply centres.

The pandemic also led to supply chain disruptions and reduced access to critical materials and equipment. This impacted oilfield supply centres by delaying shipments and increasing costs due to supply shortages. For example, a report by McKinsey & Company stated that 75% of oil and gas supply chain professionals experienced disruptions due to the pandemic.

Another significant event that affected oilfield supply centres was the severe winter storm that hit Texas in February 2021. The storm caused widespread power outages and disrupted natural gas production, resulting in a spike in natural gas prices. This event affected the supply centres by delaying shipments, disrupting operations, and increasing costs due to supply shortages and transportation challenges.

On a more positive note, the global push towards renewable energy has opened up new opportunities for oilfield supply centres. As renewable energy sources such as wind and solar gain popularity, oilfield supply centres are adapting their operations and investing in these technologies. For example, oilfield supply centres are providing equipment and services for wind turbine construction and installation.

In conclusion, global events have a significant impact on oilfield supply centres, with the COVID-19 pandemic and severe winter storm in Texas being recent examples. These events have caused disruptions to supply chains, delays in shipments, and increased costs due to supply shortages. However, the shift towards renewable energy sources presents an opportunity for supply centres to diversify their operations and invest in new technologies. Despite the challenges, oilfield supply centres remain a critical component of the oil and gas industry, and they will continue to adapt and evolve in response to global events.

At SOSC we have a strong network of suppliers to mitigate any risks associated with global events. We ensure we adapt and develop in order to serve our customers in the best way possible.