Maurel & Prom: returns to profit in 2017
(CercleFinance.com) - Maurel & Prom has published a net profit of seven million euros for 2017, compared to a loss of 50 million euros in 2016, with EBITDA that is up 19% at 168 million euros.
The rise in prices enabled the group to announce revenues of 355 million euros, up 12%, despite an 8% decline in oil production in Gabon.
Concerning 2018, Maurel & Prom will focus its efforts on ramping up production in Gabon, thanks to the deployment of its development program, which has been suspended for nearly three years due to the fall in the price of oil.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The rise in prices enabled the group to announce revenues of 355 million euros, up 12%, despite an 8% decline in oil production in Gabon.
Concerning 2018, Maurel & Prom will focus its efforts on ramping up production in Gabon, thanks to the deployment of its development program, which has been suspended for nearly three years due to the fall in the price of oil.
Copyright (c) 2018 CercleFinance.com. All rights reserved.