Orsted said on Monday that it expects to record an operating profit of 24.8 billion Danish kroner (US$3.4b) for 2024, a slight uptick on 2023, despite being hit with a hefty US impairment bill.
Ørsted has announced plans to alter its organisational structure as part of efforts to strengthen its ability to tap into new markets and better serve customers.
ByTrevor Borthwick, Bob Palmer and Devi Shah of Mayer Brown
Whether dealing with failure of a major project, reacting to crises at counterparties or weighed down by oil price weakness, many companies in the oil sector will have to undertake financial restructuring in 2021.
A wave of restructuring will wash through the North Sea oil industry as firms battle to make themselves “fit” for the new reality, a top accountant has said.
Offshore drilling contractor Seadrill said yesterday that it could file for chapter 11 bankruptcy proceedings if it cannot reach an agreement on its restructuring.
Elk Petroleum said the closing of the Grieve CO2 enhanced oil recovery project joint venture restructure as well as a $58million loan facility will occur in the next few weeks.