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Last Updated: January 25, 2018
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Business Trends
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DAVOS (Bloomberg) -- The world’s largest energy companies plan to significantly widen a two-year effort to standardize the kit they use to pump oil and gas, hoping they can deliver significant cost savings, said people familiar with the matter.


The discussions, scheduled on Wednesday for a closed-door meeting at the World Economic Forum in Davos, are the latest sign companies are seeking to tighten their belts permanently even as oil prices recover. Bespoke equipment designed on a project-by-project basis was common during the decade-long boom in crude prices, but looks less affordable after the industry’s worst downturn in a generation.

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