Getech rubbing its hands as oil prices rise
High oil prices may be an enduring pain for motorists but they are proving a boon to Getech, the oil services business specialising in the provision of exploration data and petroleum systems studies and evaluations.
High oil prices may be an enduring pain for motorists but they are proving a boon to Getech, the oil services business specialising in the provision of exploration data and petroleum systems studies and evaluations.
"Continued high oil prices have led to companies expanding their international exploration efforts, and hence to the increased requirements for our products," revealed Getech's non-executive Chairman, Stuart Paton.
"In particular, the development of Globe, which utilises our key skills in integration of data, has been embraced by industry. The roll out of Globe, with nine sponsors now signed up to the programme, is transformational for the company both in terms of revenue growth and visibility of future income," Paton claimed.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The group saw profit before tax surge to £1.25m in the year ended July 31st from £0.67m the year before, on turnover that rose to £6.44m from £5.33m.
Diluted earnings per share rose to 2.97p from last year's 1.84p, and just over a third of those earnings will be paid out in the form of dividends, with the 0.8p final dividend supplementing the 0.2p interim dividend paid earlier this year.
"We are pleased to report that we have made a solid start to 2012-13. As reported, we have already signed up four further sponsors for Globe since the period end. One of these sponsors has committed to a €1m call-off contract for a range of services including the core Globe products," Paton revealed.
JH
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Review: Eden Roc Cap Cana – fun, sun and golf in the Caribbean
Travel Eden Roc Cap Cana in the Dominican Republic offers everything from relaxing by the pool to a world-class golf course
-
Reeves delays cash ISA reform, but savers are not out of the woods yet
The chancellor has reportedly delayed plans to cut the cash ISA limit, which were set to be announced at Mansion House on 15 July, and will take more time to consult with the industry