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Pain ahead for oil and gas contractors

Oil services companies are bracing themselves for pain as a result of the dramatic fall in the oil price, with analysts warning contractors and suppliers are set to come under significant pressure.

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Oil services companies are bracing themselves for pain as a result of the dramatic fall in the oil price, with analysts warning contractors and suppliers are set to come under significant pressure as producers seek to slash costs and delay investments.

MMA Offshore Limited managing director Jeffrey Weber said the oil services sector is grappling with uncertainty about how low oil prices might fall and for how long.

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    Original URL: https://www.afr.com/companies/pain-ahead-for-oil-and-gas-contractors-20150112-12m3io