IN BRIEF: Pharos Energy revenue drops amid declining production
25th May 2023 11:36
Pharos Energy PLC - London-based oil and gas exploration and production company focused on South East Asia and the Middle East - Revenue falls 45% to USD49 million in the four months ended April 30, from USD89 million the year prior, with the company blaming the volatile macroeconomic environment in Egypt. Company production falls 18% to 6,805 barrels of oil equivalent per day from 8,921 boepd the year prior. The company expects Egypt production for the full-year between 1,350 boepd and 1,800 boepd, and Vietnam production between 4,700 boepd and 5,700 boepd. Read More