EnergyWatch

John Fredriksen is racing against time to save his empire

A multiple year boom could be coming to an end for the colorful Norwegian shipping magnate John Fredriksen's crown jewel, Seadrill, as the company has turned out to be USD 14 billion in debt. A race against time and unsatisfied bondholders has begun.

Only rarely is a former executive colleague this publicly and so directly criticized – or to say it as it is, completely dissed by his partner of many years in the executive group.

But this was what happened when the controversial Norwegian shipping magnate John Fredriksen, backed by Seadrill CEO Per Wulff, took to the media a few days ago and placed full responsibility for the drilling company's spectacular downfall on one man, the former colleague Tor Olav Trøim.

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