ShippingWatch

BW Energy reports profit for second quarter

BW Energy, which is listed on the Oslo Stock Exchange, booked a slight profit for the second quarter despite a challenging oil market. The company scaled back its investment program significantly earlier this year.

BW Energy CEO Carl K. Arnet. | Photo: PR / BW Energy

Oil company BW Energy delivers a small profit on its bottom line for the second quarter.

Compared to the first quarter of the year, BW Energy's operating income grew by USD 10 million in the second quarter, to USD 32 million, while the operating result, EBITDA, came to USD 21.8 million, against USD 14.8 million in the first quarter, which according to the company reflects "increased oil sales and realised oil price".

Read the whole article

Get 14 days free access.
No credit card required.

An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Oil service firm loses nearly USD 60 million in three months

Norway's PGS still suffers under the Covid-19-stricken oil market, delivering yet another financial report with enormous red figures on the bottom line. The deficit is smaller than in Q3 2020, however, when PGS lost more than a quarter billion dollars.

IKEA sustainability manager: Green solutions should not cost more

As a starting point, furniture giant Ikea won't accept that green solutions become more expensive than polluting solutions, says Elisabeth Munck af Rosenschöld, Global Sustainability Manager for Supply Chain Operations, to ShippingWatch. Ikea is part of an alliance of global companies that calls for green shipping by 2040.

Further reading

Related articles

Trial banner

Latest news

See all jobs