Baker Hughes forecasts USD 25-million loss upon devaluation in Venezuela
The fall in the revenue of the oil services firm will represent some nine percent of the estimated average net income in the first quarter, Reuters reported
The fall in the revenue of the oil services firm will represent some nine percent of the estimated average net income in the first quarter, Reuters reported.
Last Friday, the Venezuelan Government announced it would devalue its currency to bring relief to public finances. The adjustment in the foreign exchange rate entered into force this Wednesday.
Additionally, Baker Hughes' major rival, Halliburton Co. estimated that devaluation in Venezuela would lead to exchange losses amounting to some USD 30 million, around 6% of the expected revenue in the first quarter.
Translated by Jhean Cabrera
The news marked an ominous beginning, health-wise, of the year 2015: the Cardiovascular Surgery Unit at Hospital Clínico Universitario, one of the country's largest teaching hospitals, was to close completely on January 5 due to lack of medicines and surgical supplies. All patients who were waiting to be operated on were sent home. More than 10 patients waiting for surgery reportedly died there from lack of basic medical supplies in the two months prior to the closure.