Operating profit of offshore rig operators may jump 30% in FY25: Report, ET Auto
Crude price, which averaged at USD 55 a barrel between fiscals 2016 and 2021, increased to USD 86 a barrel on average since fiscal 2022. Higher crude prices have, in turn, incentivised increased capex in offshore exploration and production activities, driving up demand for offshore rigs.
Naveen Vaidyanathan Ankit Kedia Crude Prices Naveen Vaidyanathan Offshore Rig Operators Rig Operators
Source: indiatimes.com