Summary
OIL and gas services firms are coming under pressure as the fall in oil prices since last year and the slowdown in the economy take their toll, sector leaders warned.
Alistair Birnie, chief executive of the Subsea UK trade body, said sector players were being hit hard as a result of operators of oil and gas assets reducing activity and trying to cut the cost of those services that they still use.See the full content of this document
Extract
Tougher Times Ahead, Says Subsea Chief
"Reductions in activity are persisting, backlog build is lessening a...
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