EnergyWatch

Kvaerner: The oil industry has hit rock bottom

In the company's first quarter interim report released Monday, Norwegian Kvaerner eyes signs of a shift in the oil industry after a crisis of several years.

Norwegian yard and offshore group Kvaerner believes that the oil industry has now bottomed out since the oil price plunge in 2014 caused oil companies to stop new projects.

This is according to management in relation to the publication of Kvaerner's first quarter interim report 2017. The order intake came to NOK 6.6 billion (USD 764 million) which brought the total orderbook up to NOK 10.8 billion.

Read the whole article

Get 14 days free access.
No credit card required.

An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from EnergyWatch

GE implements 3D printing for making component molds

Developing the world's largest 3D printer will enable the OEM to make molds for nacelle components of up to 9.5 meters in diameter and weighing more than 60 tonnes by means of additive manufacturing. Initial testing is set to begin in early 2022.

Further reading

Related articles

Trial banner

Latest News

See all jobs