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Seadrill sees operating profit slide in first quarter

The operating profit at John Fredriksen's Seadrill declined 26 percent in the first quarter of 2016 compared to the same period last year. However, the company notes significant progress against the last months of 2015.

Drilling company Seadrill booked a reduced operating profit in the first three months of the year.

The first quarter interim report, published Thursday, shows a 26 percent setback in the company's operating profit compared to the same period 2015, as the operating result before one-off items (ebitda) declined to USD 528 million from USD 715 million last year.

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