For Investors: More Evidence Oil Service Companies May Be Preferable to Major Oil Companies

Link here.

Halliburton discusses prospects for global production.

This was near the end of the story:

Much of the work is being ordered by national oil companies, who are less likely than they have been in the past to share their resources with international oil companies, instead turning to service companies to help them extract their reserves, Lesar said. Four of Halliburton's top ten customers are now national oil companies, he said.

"National" oil companies refers to the "foreign" country's own national oil company, such as China's CNOOC -- in the future national companies like CNOOC will partner less with major oil companies like XOM, CVX, and COP, and more often with SLB, HAL, and BHI.