The petrochemicals segment contracts in Europe registered an increase of 300% with four contracts in May 2022, when compared with the previous month’s total of one contract, according to GlobalData’s oil and gas contracts database.

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A total of four contracts were registered in the petrochemicals segment of Europe during the month, when compared with the last 12-month moving average of five contracts.



Contract award activity in Europe’s petrochemicals segment during May 2022

In May 2022, Russia led the activity with two contracts and a 50% share of the petrochemicals oil and gas contracts in Europe. It saw an increase of 100% over the previous month’s total of one contract and a flat growth when compared with the last 12 month-average of two contracts in Russia.

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In second place was Belgium with one contract and a 25% share.

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Based on 12-month moving average of the contracts in the petrochemicals segment of Europe, Russia took the top spot with two contracts, followed by Norway and Poland with one contract each.

Contracts by scope of work in Europe’s petrochemicals segment during May 2022

During the month, the majority of petrochemicals segment contracts awarded in the Europe were in the procurement with four contracts, followed by construction and design & engineering with one contract each.

Methodology

All publicly announced contracts are included in this analysis, which is drawn from GlobalData’s oil and gas contracts database that provides insights into awarded and expired contracts globally.

More in-depth reports and analysis on all reported contracts are available for subscribers to GlobalData’s oil and gas database.