Petro Welt Technologies AG provided the earnings guidance for the fiscal year 2020. The oilfield service industry is currently suffering from a continuing change of customers' drilling and intensification programs on the reduction of production plans in accordance with OPEC+ commitments and expectations of further oil price volatility. In addition, restrictions related to COVID-19 remain as a constraining factor. This global trend is also affecting the markets with Petro Welt Technologies AG's presence. The company has reduced its forecast of the annual revenues of the fiscal year 2020 from EUR 275-282 million to EUR 265-270 million, depending on the exchange rate volatility at the end of 2020.