Banks reaffirm decision to blacklist oil despite offshore upswing

It will still be difficult for drilling companies to secure bank loans, even though the market reports increasing rates and activity following a years-long downturn.

The oil price plunge of 2014 pushed the drilling sector into a crisis, in which activity decreased and rigs were decommissioned. | Photo: Andrea De Silva/Reuters/Ritzau Scanpix

Going to the bank remains a challenge for drilling companies, even though the industry has recently seen a considerable increase in activity again following a downturn spanning years.

Although several drilling firms report increased activity in the sector, improved results and rapidly climbing rates, the industry still has some way to go.

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