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
As late as Tuesday, February 25, there was some visible response from Gabriela Ramírez's office. Representatives of the Office of the Ombudswoman would visit independent human rights watch groups to find what happened in connection with repression of protests. That day, they visited NGO Provea. The next day, they met with the attorneys of NGO Venezuelan Criminal Forum. They pursued specific data because -they argued- no claims of human rights violations of demonstrators had been filed with the Office of the Ombudswoman.