(FILES) This August 21, 2013 file photo shows an oil well near Tioga, North Dakota. Crude oil prices fell August 17, 2015, deepening a long slide as traders expect US production will remain strong, adding to abundant global supplies. AFP PHOTO / Karen BLEIER / FILES
THE near-demise of Singapore-listed oilfield services company Swiber Holdings Ltd has cast a large shadow on its Malaysian peers who are facing similar mounting debts, a lack of new tenders and a depleting cash pile.
With oil prices still in a bear market for the second year running, smaller offshore services firms may continue to underperform as high debt obligations will continue to eat up existing cash reserves, say analysts.
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