Welltec: Hard work withstanding plunge in oil price
Welltec's annual report shows no signs of the sliding oil price that has affected the industry since autumn. Hard and preemptive work are the main reason that the price drop is not visible in the numbers, says CFO, Jesper Helmuth Larsen, in an interview with ShippingWatch.
BY LOUISE VOGDRUP-SCHMIDT
The end of 2014 affected the entire oil industry due to the drastic plunge in oil prices and the subsequent impairments and budget cuts among several of the biggest oil companies, operators and suppliers. But the development, which now in the middle of the season for annual reports is reflected in a number of companies' 2014 results, is not visible anywhere in the report from Danish oil service company Welltec.
Already a subscriber?Log in here
Read the whole article
Get access for 14 days for free. No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.
With your free trial you get:
- Access all locked articles
- Receive our daily newsletters
- Access our app
Get full access for you and your coworkers
Start a free company trial todayRelated articles:
Welltec defies oil industry downturn
For subscribers
Welltec could soon be hit by declining oil
For subscribers
Welltec maintains strong growth
For subscribers
.jpg)
.jpg&w=384&q=75)
