These Once Forbidden Markets May Become Very Lucrative for Halliburton and Schlumberger

The national oil companies of Iran, Iraq, Mexico, Algeria, and Libya are among those asking Western oil companies for technical help.

Jun 23, 2014 at 2:05PM

So much for not needing companies like Halliburton (NYSE:HAL) and Schlumberger (NYSE:SLB). After years and years of trying to produce oil and gas all by themselves, several national oil companies around the world are starting to realize they can't do it alone. Sure, they could continue to do it without help, but that would involve leaving billions of dollars of potential revenue in the ground. But with so much of these nations' livelihoods based on the amount of oil they can sell, they need the help of technology that companies like Halliburton and Schlumberger possess. 

Find out more about why the silent giants like PEMEX and PDVSA are extending olive branches and what it could mean for the prospects of Western oil companies down the road by tuning into the video below. 

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Joel South owns shares of Schlumberger. Tyler Crowe has no position in any stocks mentioned. You can follow them both on Twitter @TMFEnergy and @TylerCroweFool, respectively.

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