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
At first she agreed that I use her real name, that she had no problems with that at all. After all, living with HIV had driven her to help others – as a workshop facilitator giving talks and conducting seminars, or as a volunteer for local AIDS Service Organizations like Acción Solidaria (Solidary Action) and Mujeres Unidas por la Salud (Women United for Health, or Musa), a support group network for HIV-positive women. But when we were well into the interview, the realization that she might lose her private health insurance coverage made her change her mind.