Halliburton loss deepens as oil and gas pricing pressure continues

By Kasia Patel
Published: Wednesday, 20 July 2016

Major oilfield services provider Halliburton attributed its net loss to declining prices and activity in oil and gas, a major industrial mineral-consuming sector. However, the company noted the recent uptick in rig count, indicating operator confidence in stabilising commodity prices.

US-based Halliburton Inc., the second largest provider of oilfield services, has reported a loss of $3bn from continuing operations for the second quarter of 2016 as lower activity and pricing pressure continues in the global oil and gas market.

The loss represents a sequential decline of 33%, with the company...

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