By Tom Hals Feb 28 (Reuters) - A subsea and offshore contractor affiliate of Ezra Holdings Ltd, a struggling Singaporean oilfield services firm, filed for U.S. bankruptcy as it ran short of cash due to a lingering downturn in the oil-and-gas industry. The affiliate, Emas Chiyoda Subsea Ltd, said in court papers filed in Houston that the company was suffering from weak … [Read more...]
Rebound in Singapore’s Ezra Holdings Seen to Be Fleeting Amid Oil Industry Woes
By Jonathan Burgos (Bloomberg) -- Ezra Holdings Ltd. is leading a rebound among Singapore oil-services providers this month, after bearish bets pushed the company’s shares to all-time lows. The rally will be short-lived amid deepening financial distress in the industry, analysts say. Ezra has surged more than 40 percent in September, and oil-related companies … [Read more...]