Smedegaard: Giving up hopes of Brazilian oil success
Maersk's attempts at landing solid profits from the Brazilian oil sector have now been given up for good. After many years and several attempts Maersk Oil has opted to divest, make a major impairment and let go of its ambitions for future growth in the country.
BY RITZAU FINANS
A.P. Moeller-Maersk is now definitively giving up hopes of a successful Brazilian oil business. After many years and several attempts Maersk Oil has opted to divest, perform a major impairment and let go of its ambitions for future growth in the country, says A.P. Moeller-Maersk CEO Nils Smedegaard Andersen after the company on Tuesday performed a USD 1.7 billion impairment on its fields in the country, describing the development as "regrettable."
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