Oilfield Service Giants Are Betting Big On ‘New Energy’ Tech

The biggest oilfield services providers are looking to take advantage of the soaring investments in clean energy to generate revenues from the energy transition and prepare for whenever oil demand peaks.   Current revenues from new energy businesses for the top oilfield firms are in the hundreds of millions of dollars.

Companies expect those revenues to jump to single-digit billions by the end of the decade.  The subsurface, offshore drilling, and digital technology expertise of the oilfield services industry will help it in project…