5th May 2022 12:31
Nostrum Oil & Gas PLC - Amsterdam-headquartered oil and gas company with operations in Kazakhstan - Increases annual revenue despite producing less oil. Revenue in 2021 rises to USD195.3 million from USD175.9 million in 2020. Net cash flows from operations is up at USD117.4 million from USD82.7 million. Oil production falls to 17,032 barrels of oil equivalent per day from 22,337 in 2020.
Firm swings to a pretax profit of USD5.6 million versus a loss of USD401.8 million in 2020, and posts a post-tax loss of USD26.1 million, narrowed from USD364.4 million a year ago.
Oil prices in 2021 rose by over USD20 per barrel to USD75 per barrel by the end of the year, Nostrum explains. Prices have been volatile since the Russian invasion of Ukraine, reaching over USD130 per barrel at one point, the oil company adds.
Current stock price: 5.50 pence, up 8.3% on Thursday
12-month change: down 58%
By Tom Budszus; [email protected]
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