Oilfield services' LatAm growth to struggle this year, Credit Suisse says


Latin America contributes a significant part to U.S.-based oil services and equipment companies (OIH), which will struggle to achieve growth in the region during 2014 as a slowdown in Mexico and Brazil will be worse than expected, Credit Suisse says.

Halliburton (HAL) is in one of the most difficult positions because of its relatively high exposure to Mexico and Brazil, and its relatively low exposure to other Latin American markets will prevent it from mobilizing operations to more robust areas.

Schlumberger (SLB) and Weatherford (WFT) have relatively high exposure to the two countries, but have the possibility of offsetting losses by moving business to other LatiAm countries.

The firm says Baker Hughes (BHI) has the lowest exposure, with only 4% of its revenue from Mexico and Brazil.

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