Thread regarding Weatherford International Ltd. layoffs

Weatherford in discussions over expanding the business in the Middle East

Discussions are on the way between Weatherford and a few Middle Eastern national oil companies to form drilling business joint operations in that region. When this news is combined with the fact that Weatherford is expanding manufacturing infrastructure in Saudi Arabia, it becomes evident that Weatherford is trying to widen its footprint in the Middle East. Personally think this is a good move, as every company in the business that focused recently on markets outside the US ( especially on the Middle East region) gained benefits from that strategy.

https://www.thenational.ae/business/energy/exclusive-weatherford-eyes-tie-ups-manufacturing-expansion-in-the-middle-east-1.787597

by Anonymous
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Post ID: @OP+VYhIimT
Comment! It's anonymous!

4 replies (most recent on top)

Open your eyes people. Obviously they are trying to make Huntsville a SuperCenter. Everyone knows they don’t have the capacity or the intelligence to do this. They couldn’t even pass a KOC Audit. Their Quality hasn’t the knowledge to even know where to begin with the product lines coming from Houma. Much less the machining of these products. They are being set up for failure. It doesn’t surprise me Weatherford is grabbing straws for air with the Middle East. They may think that’s their life saver, but people fail to forget they were the ones that got Weatherford in trouble with Trade Compliance and their “ Food for Oil” selling to sanction countries. Costing the company millions in fines. And I’m sure Mr. C is looking for the next scapegoat he can email the company corporates about being a whistleblower so they can jump ship before sh—t goes down.

by Anonymous
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Post ID: @4hmc+VYhIimT

Can’t see KSA having any interest. They’ve already got their ducks in a row some time back. The only hope is KOC and why would they bother when they can pick anything they wanted from WFT soon for pennies.

by PFS
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Post ID: @1ixw+VYhIimT

How did that other JV go that WFT got into? Oh ya, they got the short end.

by Anonymous
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Post ID: @xki+VYhIimT

this is a sign of selling another asset... to recoup money to pay down debt... any joint venture that was done got that piece of asset sold.

by Anonymous
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Post ID: @dnh+VYhIimT

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