Discounts in downturn ‘steeper’ than in 2008

摘要

Houston-Pricing discounts given to oilfield services by their upstream customers appear “much steeper” in the current downturn than in the 2008-2009 recession, a top executive for the world’s largest oilfield service company said Tuesday. “We are already very close to the pricing trough of the 2008-2009 downcycle, with more reductions possible,” Patrick Shorn, president of operations and integration for Schlumberger, told the Credit Suisse annual energy summit in Vail, Colorado.