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Annual Report 2010 (PDF, 5.2MB) - Panalpina Annual Report 2012

Annual Report 2010 (PDF, 5.2MB) - Panalpina Annual Report 2012

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44<br />

Oil and Gas<br />

Despite a remarkably stable oil price in <strong>2010</strong>, the impact<br />

of the severe economic downswing in 2009 continued<br />

to be felt in this sector into <strong>2010</strong>. The events in the Gulf of<br />

Mexico in early <strong>2010</strong> had a negative impact on oilfield<br />

service companies (OFS) and rig operators this year but<br />

as a result, additional investments in equipment and<br />

resources to improve safety and reliability of offshore and<br />

onshore operations are now being made with a positive<br />

effect on equipment manufacturing and supply.<br />

position is built on strong pillars that include a strong commitment<br />

to the industry, a global network covering the<br />

horizontal industry axis (Houston, Aberdeen, Singapore),<br />

a presence in all major oil and gas exploration and production<br />

sites of the world, a dedicated management structure<br />

with profound industry and materials know-how,<br />

logistic solutions that comply with the industry high HSE<br />

and compliance standards, and of course customer<br />

recognition among them the industry’s best of the best.<br />

With over four decades’ experience in the oil and gas<br />

industry, <strong>Panalpina</strong> is perfectly positioned to support<br />

the industry in its recovery. <strong>Panalpina</strong>’s leading market<br />

<strong>Panalpina</strong> <strong>Annual</strong> <strong>Report</strong> <strong>2010</strong>

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