Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
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 $195.3 million from $175.9 million in 2020. Net cash flows from operations is up at $117.4 million from $82.7 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 $5.6 million versus a loss of $401.8 million in 2020, and posts a post-tax loss of $26.1 million, narrowed from $364.4 million a year ago.
Oil prices in 2021 rose by over $20 per barrel to $75 per barrel by the end of the year, Nostrum explains. Prices have been volatile since the Russian invasion of Ukraine, reaching over $130 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%
Copyright 2022 Alliance News Limited. All Rights Reserved.