Independent journal on economy and transport policy
08:34 GMT+2
Kvaerner to write down $48m due to accounting error
(The Straits Times)
January 22, 2002
The Norwegian oil rigbuilder puts theblame on a procedural error by the accounting team at its oil and gas unit
OSLO - Kvaerner, the Norwegian oil rigbuilder that almost went bust, said it will have to write down 230 million kroner (S$47.6 million) at its oil and gas unit tied to an accounting error in the years from 1998 to 2000.
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