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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Forget petroleum-based asphalt: a Scottish company transforms 684,000 plastic bottles into one kilometer of road that is 60% more resistant and up to 10 times more durable, and the technology has already started replacing traditional asphalt in more than 30 countries.

A British company has installed in the middle of the ocean the world’s first floating platform that generates electricity 24 hours a day from the temperature difference between the surface and the depths of the Atlantic, without relying on wind or sun.

Austrian engineers have developed an inflatable concrete technology that transforms flat slabs into domes using only air pressure, eliminating scaffolding and temporary forms, and potentially changing the way bridges, tunnels, and curved roofs are constructed worldwide.

A robot named Walter does the work of five bricklayers per hour and can save the construction industry, where the average age of professionals is 46 years and almost no one wants to learn the trade anymore, in the United Kingdom.

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