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It is reflective of the larger economic environment of the world where secular growth has not returned to the markets post the global financial meltdown and the subsequent Eurozone slowdown.
We must not forget that our industry has faced numerous challenges in the past and has always come out stronger each time.
Despite the challenges of the business and its surrounding environment, your Company along with its group companies has registered yet another year of strong performance and made substantial progress on most of these priority areas.
In addition, performance in the other areas of business where your Company has significant interests also recorded important milestones.
Crude prices today are distinctly higher than they were in early 2016.
However, it would be prudent for oil and gas companies to remain wary as the recovery has not been as robust and stable as one would have liked it to be.