Aker Solutions, Oilfield Services Provider, Sees Profit Increase Despite Lower Revenues

Written by Roberta Souza

Published on 28/10/2020 at 14:36

Empresa Aker Solutions

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Due To The Pandemic, Oil And Gas Operators Reduced Their Activity Levels, But Aker Solutions Sees Profits Increasing

Aker Solutions, a global provider of engineering, design, production systems, and services for the oil and gas industry, was affected by the pandemic just like other oil and gas operators, who reduced their levels of activity. Despite this, the oilfield services provider has noticed an increase in profits even with a decline in revenues.

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The company announced today that it had a total profit of US$ 13 million in the third quarter, showing an increase compared to the same period last year. However, the company’s revenue fell to US$ 513 million in the third quarter, whereas in the same period the previous year, it was US$ 775 million.

According to the company, this occurs because the Covid-19 pandemic and lower oil prices reduced the activity level of the operators.

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Aker Solutions, Oilfield Services Provider, Sees Profit Increase Despite Lower Revenues

Due To The Pandemic, Oil And Gas Operators Reduced Their Activity Levels, But Aker Solutions Sees Profits Increasing

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Aker Solutions, Oilfield Services Provider, Sees Profit Increase Despite Lower Revenues

Due To The Pandemic, Oil And Gas Operators Reduced Their Activity Levels, But Aker Solutions Sees Profits Increasing

See Other News Of The Day:

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While the U.S. still faces limitations in deep space, China is developing unprecedented technology with strategic satellites that maintain communication with the far side of the Moon and aims for dominance by 2030.

In Botswana, a salt flat of up to 16,000 km² that was once an African megalake spends months as an absolute white desert, but during the rainy season it transforms into a shallow sea that reappears from nowhere and can be seen from space in the middle of southern Africa.

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