Home / Sustainability / Energy / RAK Petroleum back in profit

RAK Petroleum back in profit

Ras Al Khaimah Petroleum, a UK-based company operating oil and gas concessions in the Middle East and Africa, said on Monday it had returned to profitability, posting a net profit of $54.8 million (Dh201 million) for the financial year 2017.
A year earlier, the company reported a net loss of $7.3m.

According to RAK Petroleum’s financial statements, the firm ended last year with a net cash position of $30m, compared with its net debt position at the end of 2016 of $139m.

Source: Gulf News

Total Page Visits: 223 - Today Page Visits: 1

Check Also

Sudanese cinema makes international strides, falters at home

Sudanese filmmakers who celebrated the end of stifling restrictions following the ouster of autocrat Omar …

Leave a Reply

Your email address will not be published. Required fields are marked *