Normal fluctuations in the oil market

Aker Solutions have been quick to comment on the recent challenges in the Norwegian oil industry. 

After 1,500 contract staff here let go in egersund, Aker Solutions have been downplaying the news. They state that these events are down to normal fluctuuations in a cyclic oil industry. 

 

"The oil industry is a cyclical sector with substantial fluctuations in activity levels. We adapt our own capactiy as correctly as possible in relation to periods with lower activity by using contracted labour to deal with the peaks. All such contracts are time-limited and the horizon normally varies, but the most common one is 12 months. This is also the practise in a strong market," head of press Anne Cecilie Lund-Andersen at Aker Solutions writes in a text.

 

The recent fluctuations has seen oil prices dip to their lowest levels in four years. This has caused several companies to evaluate their expenses and overheads. 

Read more here.

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