Energy consulting sector growth

Energy consulting sector growth in 2014

Despite slumping oil prices, a new report from consultancy firm Source Information Services has found the global energy and resources consulting market grew 6 per cent to $14.7bn in 2014.

The UK market mirrored the global picture, growing 6.1 per cent to $816m on the strength of efficiency projects in the North Sea, the report said. Long planning cycles also helped to keep consulting work on an even keel, it said.

Alison Huntington, a senior analyst from Source said: “A key question - that’s very hard to answer - is how long energy clients will carry on spending on consulting. Work in this sector tends to be capital intensive and long-running, but once current programmes come to an end, will cash-strapped clients shell out again on major investments?”

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