Thursday February 20, 2020

PetroNeft first-half net loss shrinks to $2.7m

Russian-focused Irish oil exploration company PetroNeft has reported a narrower first-half loss, despite a drop to $17.5 million in overall revenue.

26th September, 2014
PetroNeft recorded a net loss after tax of $2.7 million during the first half of the year

Russian-focused Irish oil exploration company PetroNeft has reported a narrower first-half loss, despite a drop to $17.5 million in overall revenue.

The company registered a net loss after tax of $2.7 million for the first half of the year — an improvement on the loss of $10.5 million registered during the same period last year.

Production during the first half dropped by 12 per cent compared to the same six months last year. The company said the decrease...

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