2016-07-29 19:05:00
GLOBAL PROFITS & CASH FLOW DOWN
According to EIA:
- Brent crude oil prices averaged at the lowest level since 2004, significantly reducing profits and cash flow for energy companies.
- Production increased from year-ago levels, but growth is decelerating as companies reduced capital expenditure.
- Many companies were able to balance their capital expenditure with cash from operations.
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Earlier:
BAKER HUGHES NET LOSS $911 MLN
SCHLUMBERGER NET LOSS $2.16 BLN