News Oil & Gas Exploration Credit Crunch May Block 20% of Deep Oil Rigs, Slow Petrobras
Credit Crunch May Block 20% of Deep Oil Rigs, Slow Petrobras PDF Print E-mail
Submit Credit Crunch May Block 20% of Deep Oil Rigs, Slow Petrobras in Delicious Submit Credit Crunch May Block 20% of Deep Oil Rigs, Slow Petrobras in Digg Submit Credit Crunch May Block 20% of Deep Oil Rigs, Slow Petrobras in FaceBook Submit Credit Crunch May Block 20% of Deep Oil Rigs, Slow Petrobras in Google Bookmarks Submit Credit Crunch May Block 20% of Deep Oil Rigs, Slow Petrobras in Stumbleupon Submit Credit Crunch May Block 20% of Deep Oil Rigs, Slow Petrobras in Technorati Submit Credit Crunch May Block 20% of Deep Oil Rigs, Slow Petrobras in Twitter Submit Credit Crunch May Block 20% of Deep Oil Rigs, Slow Petrobras in Twitter

As many as 20 of the 100 deepwater oil rigs on order worldwide may be delayed or canceled as loan availability erodes, possibly slowing developments including the biggest petroleum discovery in the Americas in three decades.

About half of the 20 rigs in question are rented for when they're completed in two to three years -- no longer enough to ensure financing for units that can cost $800 million to build, said Brian Uhlmer, an analyst at Pritchard Capital Partners in Houston.

Source: Bloomberg

View Full Article

 

 

 
 

Industry Headlines
Valve Magazine is published by the Valve Manufacturers Association of America. © - All Rights Reserved

RocketTheme Joomla Templates
..