Directors' Issue Interim Statement
The increase in the price of oil has shown signs of resilience and the market may be entering a more stable period when compared to the recent past.
Rig repair and maintenance - Medserv Energy
Rig repair and maintenance - Medserv Energy

Directors' Interim Report

22 May 2017
 
The increase in the price of oil has shown signs of resilience and the market may be entering a more stable period when compared to the recent past. This has allowed the major international oil companies (IOCs) to return to greater profitability as evidenced by recent first quarter results. This turnaround was greatly helped by the agreement reached by OPEC and others to reduce output levels, as well as by a painful restructuring process. These two actions addressed the new industry reality and could usher in a period of stability. The Company expects this to have a knock-on effect on the service company sector which should benefit the Company in the near term.
 
RELATED
ARTICLES
12 Jun 2017
Novel energy storage system to be tested in Grand Harbour
A small-scale prototype of a novel concept for large-scale storing of renewable energy offshore will be tested in Grand Harbour later this y... read more>

08 Jun 2017
Medserv employee participates in The Grid event
Medserv employee Ian Wallace who forms part of the Malta HSSEQ Team took part in The Grid event held on the 3rd June. ... read more>

06 Jun 2017
Saipem: New offshore drilling contracts in Mozambique, the Mediterranean and the Black Sea for a total value of $230 Million
Saipem is one of the world leaders in drilling services, as well as in the engineering, procurement, construction and installation of pipeli... read more>

Cyprus   /   Our Services   /   Sicily