There was both bad and good news for petroleum contractors this summer. The bad news was a pall of uncertainty currently shrouding petro markets as major oil-spill disasters—Gulf of Mexico rig explosions and a Michigan pipeline leak so far this year—ratcheted up scrutiny, opposition, delays and cancellations of new projects. But if there is good news for petro contractors, it is the fact that America’s monstrous thirst for oil remains unabated, and contractors know it’s only a matter of time before the carbon-based infrastructure market comes roaring back to life. Photo: Courtesy of SAIC SAIC has three contracts for hydrocracker
The market is generally healthy and steadily growing, and margins are up for large specialty contractors. Further, advances in design tools and owner demand for collaboration are giving subcontractors a seat at the table early on in projects.