Norwegian oil group increases value by a third in first quarter

The oil sector's recovery has left a positive mark on the significant Aker group's parent company, Aker ASA, which in the first quarter increased its total value by 34.6 percent. The company's CEO emphasizes that overcapacity continues to plague the industry.

Photo: Aker BP ASA, Pressefoto

The Aker group's total value has increased by no less than a third during the first quarter of the year.

Its parent company, Aker ASA, specifically raised the net asset value (NAV) of its activities by 34.6 percent in the period to a total of NOK 56.2 billion (USD 6.4 billion), shows the company's interim report for the first quarter, published Friday. In December of 2018, NAV landed at NOK 41.7 billion.

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