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Halliburton in a tight spot
May 02:
Halliburton's Indian operations seem to be in a bit of spot of late.
8There has been a quick change of personnel, and people at the helm in India seem to lack the contacts and experience to swing deals.
8The company has become risk averse after Halliburton lost money in a few key contracts with Cairn India and ONGC.
8A subsequent blacklisting by ONGC did not help either.
8"They would rather err on the side of caution than take the risk of an adverse appraisal or a job loss in case they bid too low," an industry insider said, after the company was found quoting as much as 30% more against its traditional competitor Schlumberger in a recent deal.
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8There has been a quick change of personnel, and people at the helm in India seem to lack the contacts and experience to swing deals.
8The company has become risk averse after Halliburton lost money in a few key contracts with Cairn India and ONGC.
8A subsequent blacklisting by ONGC did not help either.
8"They would rather err on the side of caution than take the risk of an adverse appraisal or a job loss in case they bid too low," an industry insider said, after the company was found quoting as much as 30% more against its traditional competitor Schlumberger in a recent deal.
Click on Details for more
