Kvaerner Sees Rising Revenues, Better Margins in 4Q
OSLO, Feb 14 (Reuters) - Norwegian industrial group Kvaerner, which builds heavy equipment like oil platforms, posted fourth-quarter earnings a touch ahead of expectations on Friday and said it expects revenues to rise this year even as competition remains intense.
Kvaerner's fourth-quarter operating profit rose 60 percent to 162 million Norwegian crowns, a touch ahead of expectations for 156 million crowns.
In 2014, it expects revenues to rise to between 15 and 16 billion crowns from last year's 12.96 billion crowns and expects "gradual margin improvements".
(Reporting by Balazs Koranyi)
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
- Weatherford CEO's Rebound Plan Relies On Getting Smaller
- Iran Says Oil Market Is Too Tight For US Zero Exports Target
- China's Squeezed 'Teapots' Eye Petchem Path To Riches
- Baker Hughes: US Drillers Add Oil Rigs For Second Week In Three
- Venezuela Hands China More Oil Presence, But No Mention Of New Funds
- Further OPEC+ Production Cuts Are Still on the Table
- USA Steel Major Taps ExxonMobil for Carbon Capture
- Aramco Holds Talks with Turkish Firms on $50B Planned Projects
- India to Boost Renewables Capacity, Avoid New Coal Plants
- QatarEnergy to Supply Bangladesh with LNG under 15-Year Deal
- Chevron to Have Wastewater Pipeline for Permian Operation
- Kinder Morgan to Expand Gas Capacity at Texas Gulf Coast Facility
- Woodside Awards Contracts for Decommissioning of Australia Fields
- ADNOC Drilling Beefs Up Hybrid Land Rig Fleet
- Increasing Refinery Runs Should Tighten Direct Crude Balances
- Is There a Danger That Oil and Gas Runs out of Financing?
- Which Generation Is Most in Demand in Oil, Gas Right Now?
- North America Rig Count Reduction Rumbles On
- Top Headlines: What Will World Oil Demand Be in 2023?
- Exxon and Chevron Shareholders Reject Toughening Climate Goals
- Will the World Hit Net Zero by 2050?
- Analyst Flags USA-Made Oil, Gas Field Machinery Order Trend
- Kenya Airways Becomes First African Airline to Fly on Eni's SAF
- Canada Gas Output Rebounds as Wildfires Subside: S&P Global
- ConocoPhillips Preempts TotalEnergies' Sale of Surmont
- Who Is the Most Prolific Private Oil and Gas Producer in the USA?
- USA EIA Slashes 2023 and 2024 Brent Oil Price Forecasts
- BMI Reveals Latest Brent Oil Price Forecasts
- OPEC+ Has Lots of Dry Powder for Further Cuts
- Could the Oil Price Crash in 2023?
- Is There a Danger That Oil and Gas Runs out of Financing?
- Invictus Strikes Oil, Gas in Zimbabwe
- BMI Projects Gasoline Price Through to 2026
- What Will World Oil Demand Be in 2023?
- What Does a 2023 USA Recession Mean for Oil and Gas in the Country?