The short and long term impacts of the low oil price environment on FPSO contractors
Compared to just one year ago, oil prices have plummeted more than fifty percent, which is pressuring both FPSO contractors and end users to focus on reducing capex and implement cost cutting measures. However the effects of the low oil price on the industry are far greater than they may first appear, particularly for contractors, having repercussions through every part of the business from contracting, to operations and even talent.
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