The third quarter statistics of Saipem, an oil company, may have forced investors to step back with their decisions to work with the company.
They experienced a serious fall in the metrics. It does not end there. The company even reported that they will have to face the same circumstances come the fourth quarter up until the year 2015. This is already the lowest range that they have met so far.
The problem comes from the generation of new contracts. The head of the company said that they are struggling with the conditions of the market. Lower numbers of overall contracts are produced year in year out.
In the past months, there have been several drops oil prices and this has greatly affected the sales of their contracts. This has caused a lot of investors to get back their shares in the market. Also, the huge project in Kazakhstan called the Kashagan oilfield has diverted a lot of money from the other possible contracts.
In numbers, the drop at the shares of Sapiem was recorded at nine percent. It was stopped right there and there to protect further damages. However the situation may look like, the company is still looking positive that this is not a disaster. It is just a warning for them to build better profit.
