Offshore

Fredriksen's well company books major loss due to weak krone

A weak Norwegian krone hits well company Archer with a foreign exchange loss of USD 23.4 million. The bottom line also reveals a major deficit for the company, which is controlled by John Fredriksen.
Photo: PR / Archer
Photo: PR / Archer
by NIKLAS KRIGSLUND

John Fredriksen's well company Archer has seen a major foreign exchange rate loss due to the Norwegian krone's current weakness compared to the US dollar.

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