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Schlumberger Sees Drop in Industry E&P Spending

2015-03-23 22:25:36| Energy - Topix.net

Schlumberger Ltd, the world's No.1 oilfield services provider, said it expects the oil and gas industry's spending internationally on exploration and production to drop by 10-15 percent in 2015. A 50 percent drop in global oil prices since June has prompted oil and gas producers to cut back spending and shore up dwindling cash reserves.

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