Oil-related firms feel impact of credit curbs

ITS Tubular Services (Holdings) says that economic conditions and the fall in available credit facilities have had a major impact on operators

They add in their annual report for 2008, which has just been released by Companies House, that the near-term outlook is difficult to assess given the state of credit markets.

They say that activity in North America continues to be depressed and although international markets have seen a less pronounced fall, future activity levels are difficult to predict.

Press and Journal