EnergyWatch

Welltec continues to battle sliding sales

Oil services company Welltec does not seem to be coping with the challenges that made 2016 such a crisis year. On the other hand, streamlining has boosted the company somewhat.

The fragmented market, plagued by uncertainty surrounding the oil price, continues to characterize the results at oil services company Welltec.

Revenue at the company landed at USD 40 million in the first quarter of 2017, an 11.5 percent decline relative to the same quarter of 2016.

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