Aker BP reports solid profit for third quarter

Higher oil and gas prices provided some much-needed stability for Aker BP in Q3, with Norwegian tax rebates slightly boosting the bottom line as well.

Photo: PR/Aker BP

Norway's Aker BP had already prepared for a financial storm such as the one comprised by the oil price war and Covid-19 in 2020.

A heavy loss of USD 335 million, an impairment by USD 654 million and a hitherto unheard of reduction in 2020 dividends from USD 850 million to USD 283 million were the dire main numbers in Aker BP's first quarter financials this year.

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

Employee at Bunker Holding subsidiary charged for alleged corruption

A trader at KPI Oceanconnect, a subsidiary of Bunker Holding, has been charged with alleged corruption totaling at least USD 191,250 as rewards for nominating Straits for the supply of bunker fuel to KPI's customers. The employee has been suspended and his contract terminated, the company informs ShippingWatch.

Freight rates for furniture eat up almost entire profit

The price of shipping a 40-foot container with assembled furniture from Asia to the US West Coast is currently so high that freight rates make up almost 100 percent of the furniture's retail value, according to Sea-Intelligence.

Wallem Group appoints new CEO

Wallem Group appoints interim CEO since January 2021 as the new chief executive officer of the ship management company.

Further reading

Related articles

Trial banner

Latest news

See all jobs