ijra — Live news map of the Middle East, Sudan and Pakistan

Reuters cites officials: oil services companies face heavy cost pressures due to Iran war

Abu Dhabi, United Arab Emirates ·

Executives speaking at a conference in Abu Dhabi said higher costs for shipping, fuel and insurance are leading firms to raise their project cost estimates, which affects their contracts across the Middle East. The war has damaged infrastructure and forced staff evacuations in several countries.

Oil services companies supply drilling, equipment and engineering to the oil and gas industry, and the Gulf is a major hub for this activity.

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