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Kvaerner sees signs of stronger second quarter

The second quarter looks set to be better than feared for Norwegian oil service company Kvaerner. Despite a big drop in the oil price during the spring, the company now expects a "significant improvement" in results.

Photo: Kværner

Norwegian oil service company Kvaerner takes a more positive view of the second quarter, which has otherwise been severely impacted by the coronavirus crisis and sliding oil prices.

However, the period has developed positively for Kvaerner's current projects and framework conditions, compared to the first quarter, writes the company in a press release Monday morning.

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