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Recession and Plummeting Oil Prices Stall New Contracts

Publication Date: 12/23/2009
Author: Housley Carr
Format: HTML

Description:
The market for designing and building oil- and natural gas-related projects around the world did not collapse in 2009 as some had feared. But neither did the market expand. While many construction-industry firms working in the petrolem sector experienced booms through most of the past decade, the pace of new-contract signing slowed significantly in late 2008 and the first half of 2009 as economies around the world staggered and oil and gas prices tumbled.

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