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Tuesday, 31 January 2017

Oil Braces for Trump Ban Fallout as Halliburton Says Stay Put - Bloomberg

Oil Braces for Trump Ban Fallout as Halliburton Says Stay Put - Bloomberg:

"Oil-services giant Halliburton Co. told employees to stay put. Another global oil company is reconsidering whether to place a crude trader in Houston. And universities that train energy workers across the country estimated that hundreds of students may be affected. Of all the energy sectors that may feel the pain of President Donald Trump’s order to temporarily ban people from seven majority-Muslim countries, oil and natural gas companies -- industries he vowed to help during his election campaign -- stand to be hit the hardest. On Monday, energy companies led declines in the Standard & Poor’s 500 Index as investors weighed Trump’s first week in office. “Oil and gas is going to have the most heartburn from this,” Michael Webber, deputy director of the Energy Institute at University of Texas at Austin, said by phone Monday. “Other parts of the energy sector, like the electricity sector, are more domestically situated with its workforce and its assets.”"



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