Veolia May Raise Revenue From Oil Sector Five-Fold: CEO
This article is for subscribers only.
Veolia Environnement SA, Europe’s biggest water company, may boost revenue from oil and gas operations five-fold to as much as 5 billion euros ($6.4 billion) in four years, aided by shale drilling and the dismantling of aging offshore platforms.
The hydrocarbon business is “rapidly growing and rich,” Chief Executive Officer Antoine Frerot said today at a news conference where he detailed plans to take the utility into areas more closely linked to industry. “Profit margins are attractive.”