Since late 2014, the oil industry has experienced a downturn which has impacted the oil and gas industry as a whole. Few would argue that this sector has been faced with a challenging market situation with a significantly lower world market price for oil. Combined with the uncertainty of what a full recovery will look like, now is not the time to be negative, it is the time to innovate and adapt. Forward-looking companies like Trelleborg are developing new solutions and using innovations to both help manage costs and increase efficiencies.
To say the least, it has been interesting to see how companies have coped during this time. At Trelleborg Offshore, we decided to continue to manage the challenging market situation while also preparing ourselves for the recovery through innovative solutions, using our engineering expertise to standardize and simplify our offering while also applying the right structure.
In our Perfect Adaptation Series, we take a deeper look at how we managed to implement both proactive and reactive measures to survive in the depressed oil and gas market, how these changes have positively impacted our company and how we managed the downturn as a market leader so that we are prepared to meet our global customer needs in the recovery.