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KrisEnergy narrows FY17 losses to US$139 mil on lower expenses

Stanislaus Jude Chan
Stanislaus Jude Chan3/1/2018 08:15 AM GMT+08  • 2 min read
KrisEnergy narrows FY17 losses to US$139 mil on lower expenses
SINGAPORE (Mar 1): Upstream oil and gas company KrisEnergy posted full-year losses of US$139.2 million ($183.7 million) for the FY17 ended December on the back of lower expenses, improving from losses of US$235.3 million a year ago.
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SINGAPORE (Mar 1): Upstream oil and gas company KrisEnergy posted full-year losses of US$139.2 million ($183.7 million) for the FY17 ended December on the back of lower expenses, improving from losses of US$235.3 million a year ago.

A 59.0% increase in the annual average realised crude oil price to US$49.26 per barrel bolstered revenue to US$140.7 million in FY17, relatively flat to year-ago levels of US$142.8 million.

The group’s oil and gas production saw a 21.0% decrease in to 12,745 barrels of oil equivalent per day (boepd).

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