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
Alarmed because of the emotional breakdown suffered by his ally and his destiny; Fidel Castro requested asylum for deceased Venezuelan President Hugo Chávez in Madrid back on April 11, 2002. "The story had been much darker and more entangled than what some people's imagination has wanted to believe in and disclose," former Spain's President, José María Aznar, upholds in his autograph book published by late 2013.