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SBM Offshore: Oil companies still hesitating

Although oil companies have cut down costs and it has become cheaper to produce oil from several fields, the industry continues to hesitate on investing, says offshore supplier SBM Offshore in its second quarter report.

Oil companies are still holding back from making decisions about new investments, says Dutch offshore company SBM Offshore in the report for the first half of the year.

The situation has improved during the six months, but still far from enough.

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