The Oil Consolidation

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The Oil Consolidation

Low oil prices seem to be pushing some of the big guys to decide they are going to team up, as the perception is that there are some value acquisitions out there to be had in light of low prices.  The assumption of course is that prices will rise again and value will return to this space, this giving all of us suppliers cause to stop holding our breath.

The best and most recent example of this is Schlumberger’s acquisition of Cameron.

See:  http://fortune.com/2015/09/08/big-oil-schlumberger/

As with all acquisitions, I’m sure Schlumberger will identify some redundancies in the combined workforce and there will be layoffs.  The hope is that once the two giant firms are integrated, there will be new projects to engage on and new opportunities for steel castings and iron castings sales.  This is a purely selfish concern of course.

For everyone’s sake, let’s hope this oil market stabilizes sooner rather than later.

2016-11-17T07:32:55+00:00 September 23rd, 2016|Tags: , , , , , |0 Comments

About the Author:

I am the president of a mid-size iron and steel castings company in Northeast Ohio. The foundry business is dirty, smoky, competitive, and not for the faint of heart. One must endure blistering heat, and go without seeing light for days, if not weeks or months at a time… Okay, that's a slight exaggeration. As a descendant of famed Siberian pathfinder Dmitri Zlatzutuov, I'm eager to carry on the family tradition of persevering no matter what obstacles lie ahead. Now that I'm done giving you the family history, I can tell you that I'm also an attorney and I volunteer a portion of my time to causes involving First Amendment litigation, as well as for Community Legal Services out of Akron, Ohio—for which I was recently recognized as ‘Volunteer Attorney of the Year.’ In addition to my normal day-to-day, I occasionally have works published in journals and magazines, though much less often lately, as running a company tends to fully occupy one's time.

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