Oslo Børs åpner ned

Oslo Børs opened lower on Monday, with the main index falling by 0.25 percent. Oil prices have dropped since the previous week. Brent crude oil is trading at $92.8 per barrel, down around $1.1 from that day's rate. Internationally, there was a moderate performance on Wall Street late Friday, while most Asian exchanges saw a slight decline on Monday morning.

BW Offshore, a company with oil-producing vessels for offshore fields, reported delays in the practical completion of the BW Opal vessel. Technical issues while increasing production have postponed the practical completion to the second quarter of 2027. As a result, BW Offshore has written off $125 million, equivalent to around 1.16 billion kroner at the current exchange rate.

The management lowers its annual targets due to the situation, expecting a net profit (EBITDA) of $250-280 million, down from the previous estimate of $310-340 million. The quarterly report for the second quarter shows revenues increasing to $163.1 million, and EBITDA rising to $62.5 million. However, the write-off led to a significant net loss of $89.9 million before taxes.

There have been few other slips and news from Oslo Børs companies at the start of the week. Later in the week, there will be quarterly results from companies such as salmon farmers Salmar and Grieg Seafood, and shipping companies like BW LPG, Hafnia, MPC Container Ships CMB.Tech, and Klaveness Combination Carriers.