Pemex's Exit From `Drill, Baby, Drill' May Hurt Cicsa, Tenaris
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‘Domino Effect’
Weatherford, which operates Chicontepec’s Presidente Aleman field lab, sees Mexico as one of its revenue drivers for the coming 18 months, Chief Executive Officer Bernard Duroc-Danner told investors Sept. 15 at a conference in New York.
The strategy shift will also affect oil equipment suppliers such as Tenaris SA, the world’s largest maker of steel pipes for the oil and gas industry, said George Baker, a Houston-based energy consultant.
Reduced drilling “will create a domino effect that will impact companies ranging from big suppliers to tortilla shops,” Baker, who publishes the Mexico Energy Intelligence newsletter, said in an interview from Houston.
Tenaris shares have fallen 7.2 percent in the past six months.
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http://www.bloomberg.com/news/2010-10-1 ... naris.html