{"id":503681,"date":"2022-05-05T13:59:59","date_gmt":"2022-05-05T13:59:59","guid":{"rendered":"http:\/\/yorunoteiou.com\/?p=503681"},"modified":"2022-05-05T13:59:59","modified_gmt":"2022-05-05T13:59:59","slug":"schoeller-bleckmann-reports-4-3-fall-in-operating-profit","status":"publish","type":"post","link":"http:\/\/yorunoteiou.com\/?p=503681","title":{"rendered":"Schoeller-Bleckmann reports 4.3% fall in operating profit"},"content":{"rendered":"<p>VIENNA, Aug 22 (Reuters) <a href=\"https:\/\/hararonline.com\/?s=-%20Austrian\">&#8211; Austrian<\/a> oilfield equipment producer Schoeller-Bleckmann (SBO) on Thursday reported a 4.3% fall in second-quarter operating profit, reflecting weaker demand from North American exploration and <a href=\"https:\/\/www.renewableenergyworld.com\/?s=production%20companies\">production companies<\/a>.<\/p>\n<p>Operating profit fell to 17.7 million euros ($19.6 million) in the April-June quarter.Adjusted for restructuring measures the decline was 0.7%.<\/p>\n<p>SBO builds highly specialised oilfield exploration equipment, such as odd-angle drilling and fracking gear, for a range of energy companies.<\/p>\n<p>Rising exploration activity in the United States and Canada helped it recover from a downturn a few years ago, but exploration and production companies are becoming increasingly cautious and are strongly focusing on cost cutting, SBO said.<\/p>\n<p>&#8220;The high budget discipline of the exploration and production companies is reflected in the United States &#8230; in particular, where exploration and production spending is expected to drop by around 10%,&#8221; SBO said.<\/p>\n<p>It said demand was solid in South America, the Middle East, the North Sea region and East Asia.<\/p>\n<p>&#8220;We want to make even better use of this overall situation also for our well completion business and are preparing ourselves for growing internationalisation in this sector,&#8221; Chief Executive Gerald Grohmann said.<\/p>\n<p>Schoeller-Bleckmann said it will combine its well completion subsidiaries Downhole Technology and Resource Well Completion Technologies.The two sites in Houston, Texas and Calgary, Alberta, will remain in place.<\/p>\n<p>Group sales grew 8.7% to 115.1 million euros in the second quarter, buoyed by high demand for its repair and housings services for  <a href=\"https:\/\/sbotops.bet\/\">sbotop<\/a> tools and machines. It expects that demand to stay strong, especially outside North America.<\/p>\n<p>($1 = 0.9023 euros) (Reporting by Kirsti Knolle and Riham Alkousaa Editing by David Holmes)<\/p>\n<\/div>\n<p><!-- ad: website --><\/p>\n","protected":false},"excerpt":{"rendered":"<p>VIENNA, Aug 22 (Reuters) &#8211; Austrian oilfield equipment producer Schoeller-Bleckm\u2026","protected":false},"author":184024,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_s2mail":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"http:\/\/yorunoteiou.com\/index.php?rest_route=\/wp\/v2\/posts\/503681"}],"collection":[{"href":"http:\/\/yorunoteiou.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/yorunoteiou.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/yorunoteiou.com\/index.php?rest_route=\/wp\/v2\/users\/184024"}],"replies":[{"embeddable":true,"href":"http:\/\/yorunoteiou.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=503681"}],"version-history":[{"count":1,"href":"http:\/\/yorunoteiou.com\/index.php?rest_route=\/wp\/v2\/posts\/503681\/revisions"}],"predecessor-version":[{"id":503682,"href":"http:\/\/yorunoteiou.com\/index.php?rest_route=\/wp\/v2\/posts\/503681\/revisions\/503682"}],"wp:attachment":[{"href":"http:\/\/yorunoteiou.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=503681"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/yorunoteiou.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=503681"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/yorunoteiou.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=503681"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}