A new report by Cowen and Company’s Scott Kirkwood focuses on the offshore engineering and construction business and what Cowen sees ahead for the segment in coming months. In the report, Cowen discussed its positive outlook for the industry.

NOC/IOC Spending

When it comes to offshore engineering and construction companies, the primary demand for services comes from large national oil companies (NOCs) and international oil companies (IOCs). Despite Cowen’s forecast of a 40 percent reduction in E&P capex in 2015, the firm is predicting only a 20 percent reduction in capex for NOCs and IOCs this year.

Backlog Is Vital

Cowen is expecting…

Read the rest of this article (and all my other articles) for free on Benzinga by clicking here

Want to learn more about how to profit off the stock market? Or maybe you just want to be able to look sophisticated in front of your coworkers when they ask you what you are reading on your Kindle, and you’d prefer to tell them “Oh, I’m just reading a book about stock market analysis,” rather than the usual “Oh, I’m just looking at pics of my ex-girlfriend on Facebook.” For these reasons and more, check out my book, Beating Wall Street with Common Sense. I don’t have a degree in finance; I have a degree in neuroscience. You don’t have to predict what stocks will do if you can predict what traders will do and be one step ahead of them. I made a 400% return in the stock market over five years using only basic principles of psychology and common sense. Beating Wall Street with Common Sense is now available on Amazon, and tradingcommonsense.com is always available on your local internet!