International oil services firms’ revenue continues to grow worldwide, with significant assistance from Middle East operations - most notably in Saudi Arabia - despite the current turmoil in Iraq.
The three firms to have reported results for the second quarter - Halliburton, Schlumberger and Baker Hughes – built on strong first quarter growth (MEES, 25 April) to each post first half revenue numbers up between 7-9% on a year earlier. All reported even stronger double-digit growth figures for their ‘Middle East and Asia’ operations (see table). (CONTINUED - 558 WORDS)
