Oil services firm Aker Solutions raises 2023 sales outlook

Jutal Offshore Oil Services

13/07/2023 07:40

OSLO, July 13 (Reuters) - Norwegian oil services firm
Aker Solutions  AKSOA.OL  on Thursday raised its full-year sales
guidance on the back of high tender activity and increased
spending from oil companies.
    It said it now expected revenues to increase by around 30%,
up from guidance given in May for "more than 15%". It reiterated
guidance for an improved operating profit margin before
depreciation and amortisation.
    "The overall market outlook remains positive despite
industry cost inflation and supply chain constraints," CEO
Kjetel Digre said in a statement. 
    The group said it expected market activity to increase
across the energy sector. "This supports Aker Solutions' view of
multiple years of spending growth from the company's customers."
     Oil and gas companies, flush with cash after record profits
from the fossil fuel price surge driven by the Ukraine war, have
intensified the hunt for new deposits. 
    The International Energy Agency forecasts global upstream
oil and gas investments will increase by around 11% to $528
billion in 2023, the highest level since 2015.
    

 (Reporting by Victoria Klesty, editing by Anna Ringstrom)
 ((victoria.klesty@thomsonreuters.com; +47 2331 6592; Reuters
Messaging: victoria.klesty.thomsonreuters.com@reuters.net))