Dip in oil prices may prevent merged mega company from raising charges
Halliburton/Baker Hughes deal is far from closed, and it is anyone's guess where oil prices will be when the two actually begin to operate as one
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
New York
LOW oil prices that threaten producers' profits may be a boon in one way, as they force service companies to keep prices low for the drill bits, cement and piping for oil extraction, even if two of the largest providers of such products merge.
Halliburton Co, said on Monday that it will buy Baker Hughes Inc, in a US$35 billion deal that would create an oilfield services company to take on global oil services leader Schlumberger NV.
Copyright SPH Media. All rights reserved.
TRENDING NOW
From 1MDB to ‘corporate mafia’: Is Malaysia facing a new governance test?
Middle East-linked energy supply shocks put Asean Power Grid back in focus
Beijing’s calculated silence on the Iran war
DPM Gan warns of 3 structural shifts to the global system that will bring greater challenges – and opportunities
