The pace of oil-and-natural-gas-related engineering and construction work has been nothing short of frenetic over the past several years, with global engineering and construction giants scrambling to find qualified professionals to staff a slew of multibillion-dollar projects. But the combined effects of falling energy prices, a slumping global economy and the lingering credit crisis are raising doubts about whether the world’s largest energy companies will continue to keep their capital investments flowing in 2009 and 2010. Photo: Nancy Groce, Smithsonian Institution Projects in Alberta’s oil-sands fields are being scaled back. Related Links: 2008 Top Global Sourcebook The international market for
Last year, the big news in the international powerplant design and construction sector was the unprecedented boom in coal-fired plant work in China, India and other fast-growing, “emerging” economies.
Next year may turn out to be one of the toughest years in recent times for developers of new office, retail, hotel and other commercial projects. A variety of negative forces, including the economic slowdown, overbuilding and unavailable funding, are making it increasingly difficult for all but the most sure-thing projects to advance to financing and construction, according to developers, real estate investment trusts and industry analysts. Slide Show Forest City Enterprises The deal for an office building in Albuquerque was set up by Forest City before the meltdown. Related Links: The Complete Top Owners Sourcebook with Market Data and