Schlumberger, Rockwell Form Automation JV
Industrial automation and information company Rockwell Automation and oilfield services provider Schlumberger have teamed up to create what they're calling the first fully integrated digital oilfield automation solutions provider.The new Houston based joint venture, Sensia, is expected to begin serving customers in the summer of 2019, subject to regulatory approvals and other customary conditions.“Oilfield operators strive to maximize the value of their investments by safely reducing the time from drilling to production, optimizing output of conventional and unconventional wells and extending well life,” said Blake Moret, Chairman and CEO, Rockwell Automation.
Low Oil Prices Spark Caution for Diverse US Manufacturers
The shaky global economy already has pressured shares of diversified U.S. manufacturers, and many of these industrial companies face another worry: the drop in oil prices. The concern for these manufacturers is that oil and gas customers will reduce their capital spending because of fears of a lack of return with energy prices low. Two manufacturers with significant exposure to oil markets, General Electric Co and Honeywell International Inc , said in interviews they did not see any short-term impact, but that sustained lower prices could alter the picture.
