EnergyWatch

Solstad Offshore ends Q2 with deficit despite record operating result

Losses on debt in US dollars have turned a record operating result into a devastating deficit for Solstad Offshore during Q2. However, the company leadership expects better prospects for oil, gas and renewable energy later this year.

Photo: Solstad Offshore

Despite a significant advancement in terms of its returns and operating result, Solstad Offshore ended Q2 with a deficit due to the company’s debt in US dollars.

According to the firm’s quarterly report, revenues totaled NOK 1.75bn (USD 178.9m) in Q2, 2022 compared to NOK 1.26bn during the same quarter of the preceding year.

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