The world's oil majors have an iron grip on oil service companies

Although the oil price is on the rise, oil majors keep suppliers' price clamped down. This also impacts Welltec, which is now fighting back. 
Photo: Pilar Olivares / Reuters / Ritzau Scanpix
Photo: Pilar Olivares / Reuters / Ritzau Scanpix
BY LEONORA BECK

An intense price pressure weighs down Danish technology company Welltec, which supplies equipment to the oil industry.

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